Media reports say ACB has charged three people including Mohammad Shafi Dar former chairman of Jammu and Kashmir Cooperative Bank with giving a Rs 250 crore loan to River Jhelum Cooperative House Building Society, Srinagar a non-existent cooperative society.
The case has been registered against all the three under the prevention of corruption Act.
The inquiry revealed that ex- registrar and ex-deputy registrar of cooperative societies were also involved in hatching the conspiracy.
A source says a fake registration certificate of the society had been made by the accused.
