The Economic Offences Wing of Crime Branch Kashmir has registered a case into a Rs 3.09 crore loan fraud linked to Hatigam Multipurpose Cooperative Society (MPCS), Anantnag.
The probe follows a complaint from Anantnag Central Cooperative Bank. Loans were sanctioned in 2014 to 127 members; Rs 2.50 crore has been recovered, while Rs 1.21 crore remains unpaid.
A preliminary inquiry revealed loans issued in names of fictitious persons, allegedly siphoned by MPCS members and bank officials. An FIR has been filed; further investigation continues.