Daijiworld Media Network - Srinagar

Srinagar, Feb 18: Five employees of HDFC Bank have been arrested in connection with an alleged large-scale financial fraud in Jammu and Kashmir’s Shopian district.

The Economic Offences Wing (EOW) of the Crime Branch conducted searches in Shopian and Budgam districts on Wednesday as part of the ongoing investigation, an official spokesperson said.

The arrested employees have been identified as Adil Ayoub Ganai, Irfan Majeed Zargar, Mubashir Hussain Sheikh, Zaid Manzoor and Javaid Ahmad Bhat.

“Searches are currently under way at multiple locations in Shopian and Budgam to gather material evidence in the case,” the spokesperson said, adding that a written complaint had brought the alleged fraud at the bank branch to light.

Authorities, however, have not yet disclosed details regarding the nature of the alleged financial irregularities or the modus operandi adopted by the accused.

Further investigation is in progress.