Key Takeaways
- EOW Kashmir conducted raids at multiple locations in Srinagar in connection with an ongoing investment fraud case.
- The case was initiated after a complainant alleged that two individuals duped them by promising high returns on investments.
- The accused individuals were already taken into custody for further investigation.
Srinagar: The Economic Offences Wing formerly Crime Branch Kashmir today conducted searches at multiple locations in Srinagar district in connection with an ongoing investigation into a high-profile investment fraud case.
An FIR was registered this year under Sections 420, 467, 468, 471, and 120-B of the IPC at Police Station EOW-S (Crime Branch Kashmir).
These sections of the IPC deal with cheating, forgery, and other related offenses.
The case was initiated after the Crime Branch received an online complaint alleging that two individuals identified as Majid Nazir Najar, of Batamaloo, and Mubarak Ahmad Rather, of Gulshan Nagar, Gulposh Colony who had duped the complainant by promising high returns on investments.
The accused allegedly claimed to be authorized representatives of various financial institutions, including Adarsh Cooperative Society, SBI Life Insurance, and HDFC Insurance. They reportedly provided the complainant with deposit certificates as proof of investment.
However, EoW investigators said that these certificates were later found to be fake and forged.
A case was registered under relevant sections of law, and during the course of investigation, evidence confirmed the involvement of both the accused.
“Both individuals were already taken into custody for further investigation,” the EoW said in a statement.
The raids are being conducted at multiple locations linked to the accused individuals already arrested in the case as part of the ongoing investigation.
