Rs.19 Lakh Fraud in J&K Grameen Bank, Bank Employee sent to 3 Years Jail

A former cashier-cum-clerk of Jammu and Kashmir Grameen Bank has been sentenced to three years in prison for committing a financial fraud. The convict, Javed Habib, who has now retired, was working at the bank’s Kupwara branch when he carried out the fraudulent activities between June 28, 2007, and December 31, 2010. During this period, he embezzled ₹19,12,500 by making fake credit and debit entries in the bank’s ledgers and documents for various accounts.

The court’s judgment specified that Habib would serve three years in prison under several sections of the Indian Penal Code (IPC) and the Jammu and Kashmir Prevention of Corruption Act. For each of the following offenses, Habib was sentenced to three years of simple imprisonment and a ₹10,000 fine:

1. Section 409 – Criminal breach of trust by a public servant
2. Section 420 – Cheating and dishonestly inducing delivery of property
3. Section 467 – Forgery of valuable security, will, etc.
4. Section 468 – Forgery for the purpose of cheating
5. Section 471 – Using a forged document
6. Section 477 – Falsification of accounts
7. Section 5(2) of the J&K Prevention of Corruption Act

The sentences for these offenses will run concurrently, meaning that Habib will serve the three-year sentence in total, rather than serving separate time for each offense.

If Habib fails to pay the fines imposed for each offense, he will have to serve an additional one month in prison for each fine that is unpaid. This additional imprisonment will begin only after his three-year sentence is completed.

The convicted former bank employee will be held at the Central Jail in Srinagar to serve his sentence. The time he has already spent in police or judicial custody will be deducted from his total sentence.