Rs.42 lakh provident fund fraud unearthed in Kashmir
Jammu and Kashmir Police Friday cracked a provident fund fraud in which the treasurer of a public school had swindled Rs.42 lakh from the accounts of school employees.
A police officer said: "Baramulla police arrested the treasurer of Saint Joseph School in north Kashmir's Baramulla town for fraudulently withdrawing Rs.42 lakh from the provident fund of employees of the school. A charge sheet was filed against the accused in court today (Friday)."
"On July 12, the principal of St Joseph School Baramulla had lodged a complaint alleging that while scrutinising account books pertaining to provident funds of staff members, huge discrepancies were found," police said.
"Preliminary investigations revealed that there had been huge withdrawals and transfers of money from the individual fund accounts of a number of school employees without their consent and knowledge," they added.
"An FIR was registered and investigations were initiated by a special investigation team. During the investigation, it came to light that funds were withdrawn by the treasurer of the school by forging signatures of the principal and staff members," police said.