Srinagar, May 15: A multi-crore loan fraud has surfaced in Bandipora district where over 100 people have been defrauded by the scamsters in the alleged connivance with the bank officials.
The scamsters have trapped mostly laborers and their spouses and even minors by using their Aadhaar details, photographs and signatures.
The alleged fraud dates back to 2022, with victims claiming that loans averaging around Rs 7 lakh per person were fraudulently secured in their names including their family members as well as minors, without their knowledge or informed consent.
Several villagers alleged that a man identified as Hilal Ahmad Wani, son of Ali Mohammad Wani of Sumbal, approached residents years ago, promising to arrange a scheme under which each beneficiary would receive Rs 70,000.
A police official said that Wani has confessed before the police that he has at least duped over 100 people in several villages of Sumbal in Bandipora district.
Farooq Ahmad Dar, a resident of Ganastan, in Sumbal area of Bandipora district alleged that villagers were asked to submit Aadhaar cards, bank passbooks, account details, and signatures as part of the process.
“He told us not to use thumb impressions and instead asked for signatures. We did not even know how to sign properly, but he still made us sign documents,” he alleged.
Dar claimed that he and several others later received Rs 70,000 in cash and remained unaware of any irregularities for nearly two to three years until banks began sending notices regarding loans allegedly issued in their names.
“We only received Rs 70,000, but later came to know that loans around Rs 7 lakh had been taken in our names,” he alleged.
According to Dar, when victims questioned the accused, they were assured that the matter would be handled. However, deductions from their bank accounts allegedly continued.
He further alleged that scholarship money meant for his children, Kisan assistance, gas subsidies, and disability benefits received by his wife were deducted without their knowledge.
“My children’s scholarship money and my wife’s disability assistance also got deducted. Recently, Rs 23,000 in scholarship money was deducted from the account,” he said.
Another resident, Shabir Ahmad Bhat of Ganastan, alleged that the accused had collected documents and signatures from villagers, including signatures on cheque books.
“Later, when we checked bank statements, no cheque withdrawals were shown,” Bhat said, alleging that transactions were instead carried out through mobile payment services linked to their accounts.
Bhat also alleged possible involvement of officials from two J&K Bank branches in Gadhkhud and Sumbal, claiming that money was transferred between accounts without account holders being informed.
Villagers further alleged that even a minor had been issued a loan despite being underage at the time.
“When we approached the bank, they admitted he was a minor then. So how was a loan issued in his name?” residents questioned.
Another alleged victim, Farooq Ahmad Mir of Rakh-e-Shilwat, claimed that loans amounting to nearly Rs 9 lakh were issued in both his and his son’s names.
“Normally, banks take months to verify and approve loans. We do not understand how such loans were sanctioned so easily,” he questioned.
Residents alleged that people from at least five to six villages may have been affected, with some claiming loans of Rs 7 lakh and others Rs 9 lakh were issued in their names without their knowledge or informed consent.
The villagers further claimed that the accused had provided one victim, Farooq Ahmad Dar, with an undertaking stating that he had taken over Dar’s PMEGP case worth Rs 7.50 lakh and would not claim the subsidy amount at any point.
According to the villagers, many affected persons continue to receive court summons related to the loans, while some alleged that the matter was being handled internally without adequate action.
The affected families have demanded a thorough investigation into the alleged fraud and the possible involvement of others linked to the scam.
Irfan Tramboo
