Fraudulent Activities Uncovered: Ex-Bank Manager Faces Legal Heat in J&K

Amit Gupta, a former bank manager in Jammu and Kashmir, faced legal action for financial misappropriation at Devika Urban Cooperative Bank. Investigations revealed fraudulent activities, including fictitious accounts and unauthorized loans. While most funds were recovered, ongoing inquiries aim to explore the involvement of other senior officials.

Amit Gupta, a former bank manager of Devika Urban Cooperative Bank in Jammu and Kashmir, is under legal siege for financial misconduct. On Wednesday, the Anti-Corruption Bureau (ACB) filed charges against him for gross misappropriation of funds.

The accusations extend to the creation of fictitious accounts and unauthorized withdrawals amounting to over Rs 1.76 crore during his tenure starting from 2014. While most of the funds have been restored, a significant amount remains unaccounted for.

Gupta has confessed to following orders from senior bank officials to improperly manage bank funds, including the misuse of overdraft products and inappropriate fixed deposits. The role of these officials is currently under investigation to uncover broader institutional malfeasance.

(With inputs from agencies.)