SRINAGAR: The Central Bureau of Investigation (CBI) on Wednesday conducted searches in Kupwara in connection with the alleged embezzlement of funds to the tune of Rs 1.33 crore by an employee of the Jammu and Kashmir Grameen Bank, officials said.
The raids were carried out by CBI sleuths at the Jammu and Kashmir Grameen Bank in Khumriyal, Kupwara and the residence of bank assistant Shariq Hussain Khan following registration of a case against him, they said.
The officials said the CBI has started investigation of the case related to misappropriation of funds to the tune of Rs 1.33 crore by Khan, office assistant at the branch.
It is alleged that Khan misappropriated the amount by way of tampering, insertions and manipulation in the computer banking system.
The alleged fraud which started in January 2016 surfaced during an inspection in December 2019-January, 2020, they said.
The raiding party confiscated documents during the action, the officials said.