Three more accused arrested in Canara Bank financial fraud Case

Srinagar:  While continuing with its case FIR No 40/2017 registered at Police Station Maisuma regarding fraudulent and dishonest means employeed by some cheaters to siphon off the money amounting to few crores police has arrested three more accused in the instant case.

Police station Maisuma has arrested Syed Kaunsar Niayazi S O Syed Shareef ud Deen Neyaz R O Gowharpora, Chadoora running M/S Syeed Tours and Travels, Mudasir Nazeer Wani S O Nazeer Ahmad Wani R O Babapora, Habba Kadal running M/S Travel King and Mohamad Ashraf Dev S O Late Wali Mohammad Dev R O Sathsu, Baghat Kanipora running M / S Raf Raf Tour and Travels.

With their arrest total of five accused have been arrested so far and investigation is going on.

Earlier, according to police, Police Station Maisuma had received a complaint from Manager of Canara Bank regarding disbursement of loan worth Rs 10 Crores to 7 business units which failed to repay the loan amount. On receipt of this information a case FIR number 40/2017 under section 420 RPC was registered and investigation was set into motion.

“During investigation it surfaced that some cheaters hand in glove with the then Manager of Canara Bank dishonestly and fraudulently doctored documents to sanction loans for the business units which in  reality where non existing,” Police had said.

Police had earlier claimed to have arrested two cheaters namely Rayees Ahmad Khan son of Manzoor Ahmad Khan resident of Chanapora Housing Colony and Irfan Ahmad Darzi son of Manzoor Ahmad Darzi resident of Rose lane, Chanapora.