(MENAFN- Kashmir Observer) Srinagar- The Crime Branch of Jammu and Kashmir Police achieved a major success during multi-city raids with the recovery of a substantial amount of Rs 1.10 crore misappropriated by an employee of a private company in Jammu, officials on Tuesday said.
The accused, Sheraz Mir, who was then working as an accountant of Jamkash Vehicleades, was arrested after he committed criminal breach of trust and cheating by transferring a substantial amount of Rs 1.32 crore into his own bank accounts from the funds of the company, they said.
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The officials said that a case was registered on July 19, 2022, on the written complaint of the Executive Director of Jamkash Vehicleades and it came to be known that the accused used the transferred amount for online betting.
The accused, Mir, was arrested and about Rs 22 lakh misappropriated amount was recovered, the officials said, adding a preliminary charge sheet against the accused was filed by the Jammu Police in the court of law for judicial determination.
Following transfer of the case to the Crime Branch in July 2023, the teams of EOW conducted raids at several premises in Indore and Delhi, and succeeded in recovering the entire remaining misappropriated amount to the tune of Rs 1,10,00,000.00 which is a major breakthrough, they said.
Read Also 2 Held for Online Fraud in J&K's Kathua J&K Bank Manager Withdrew Rs 1.26 Cr from Dormant Accounts With this huge recovery made by the Crime Branch, the entire misappropriated amount of Jamkash Vehicleades has been recovered and further investigation is underway, the officials said.
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