The Crime Branch of Jammu Kashmir Police on Friday arrested the main accused in a multi-crore loan scam in J&K Bank immediately after his bail application was denied by the court.
The arrested individual, identified as Rohit Taroch, is a former employee of the BC Road branch of the bank in Jammu. He was terminated from service following the unearthing of a loan scam amounting to ₹1.44 crore, officials said.
The arrest followed a written complaint from the then branch manager of the bank to the Crime Branch.
It was alleged that between 2018 and 2019, 14 borrowers approached the bank for personal consumption loans (PCL) under the bank’s Sahulat and Saral scheme for government employees.
The borrowers claimed to be employees of the military farmhouse in Jammu, administrative commandant station headquarters in Satwari, and station headquarters in Domana. They submitted purported salary certificates and other documents issued by these entities.
Based on these documents and guarantees provided by the accused, the branch sanctioned and disbursed loan facilities. However, subsequent investigations revealed that these individuals were not employed by these military units and the documents they submitted were fake, officials said.
This fraudulent activity resulted in a total loss of ₹144.53 lakh.
Senior Superintendent of Police (Crime), Jammu, Benam Tosh, confirmed the arrest of the main accused following the rejection of his bail plea.
The investigation into the case is ongoing, officials said. (PTI)