Early Times Report
Jammu, Feb 3: The Crime Branch (CB) has registered a case against five top executives, including the CEO of a company, for allegedly duping ten residents of Jammu of Rs. 2.95 crores. The accused, who hail from Punjab, Haryana, and Himachal Pradesh, are accused of enticing the victims into an investment scheme under the name “NEW YORK LIVE TRADE BUSINESS PLAN.”
The victims, led by Parshotam Kumar from Satwari, Jammu, lodged a complaint with the CB, stating that the accused persons approached them with an investment opportunity promising huge profits through investments in Forex, Cryptos, Commodity Trading, and Share Trading. The accused assured the complainants that the company was registered with the Registrar of Companies in England and Wales and convinced them to invest money into the scheme.
Initially, the company appeared legitimate, with payouts and commissions being provided regularly. However, in 2023, the company’s website shut down, and the accused ceased all communication, with their phone numbers being switched off. Despite multiple attempts to contact the accused, the victims were unable to retrieve their investments.
The Crime Branch, after conducting a preliminary investigation, confirmed that the contents of the complaint and supporting evidence revealed a cognizable offence. An FIR (No. 11/2025) has been filed under Sections 420, 120-B IPC and 66-D of the IT Act for further investigation. The Senior Superintendent of Police, Crime Jammu, Benam Tosh, confirmed that a thorough investigation will be conducted into the matter. |
