CJM Reasi dismisses bail plea of accused in Treasury Fraud case

01/05/2024

REASI, Apr 30: Mrs Archana Charak, CJM Reasi dismissed the bail application of accused Ali Hussain Shah S/O AzamHussain Shah R/O Village Chassana, Tehsil& District Reasi, Temporary Govt. Employee working in Treasury Office Dharmari in much famous 'Treasury Fraud Case'.
As per the police report, District Treasury Officer Reasi produced a written letter alongwith an enquiry report regarding financial irregularity in Treasury Office Dharmari. Complainant District Treasury Officer inspected the said Treasury and after scrutinizing the record found that fraudulent payments have been made from Treasury Office Dharmari to the accounts of beneficiary i.e. Ali Hussain Shah, MTS of the said Treasury on various occasions. He further noticed that the said accused has transferred an amount of Rs. 1,38,17,971/- from Sub Treasury Dharmarito his own account by manipulating the Treasury System for his own benefit. Upon this complaint FIR No. 19/2024 was registered U/S 409/420/477-A IPC at Police Station Arnas.
Further the investigation of instant case has been transferred from District Police Reasi to EOW, Crime Branch Jammu and Special Investigation Team has been constituted for conduct of the investigation into the matter.
The Ld. APP, Sh. Ashwani Kumar argued that the applicant alongwith other co-accused has misused his official position and has transferred an amount of Rs. 1,38,17,971/- from Sub-Treasury Dharmari to his own account by manipulating the Treasury System and accused is required to reveal many such transactions. Over 400 transactions in different banks all over the country have been done and the amount has been credited through UPI/NEFT/IMPS from the account of SBI Bank being operated by applicant/accused.
While deciding the bail application of accused court observed that the gravity of offence at hand revolves around a well organized racket of Public Servant and the act of accused constituted a form of cheating and fraud that not only victimizing the individuals but also erodes the public confidence in Public Servants such scams cost a long shadow of doubt and insecurity over the digital platform that are essential form of modern financial system and strike at the heart of nations Financial Stability. Further the Court recognized the urgent need not only to protect individuals from Financial harm but also to ensure the continued vitality of online financial system and by extension the broader economy. With these observations the Ld. CJM Reasi dismissed the bail application of the accused.

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