Early Times Report
SRINAGAR, Aug 24: The Economic Offences Wing (EOW) Kashmir of Crime Branch J&K has arrested an accused in a Rs 2 crore investment fraud case from Bangalore, officials said The accused, identified as Junaid-Ul-Islam, son of Nazir Ahmad Baba, a resident of Alamdar Colony, Phase 1, Charar-e-Sharief, Budgam, was arrested from Mangammanapalya, Bangalore, in compliance with the directions of the Court of 4th Additional Munsiff Judicial Magistrate, Srinagar, which had issued a warrant against him.
The accused was wanted in FIR No. 07/2025, registered under Section 420 RPC at Police Station EOW Kashmir, and had allegedly been evading arrest for nearly a year.
According to the investigation agency, the case was registered following a preliminary inquiry that prima facie substantiated allegations of cheating and financial fraud against the accused.
The accused allegedly collected around Rs 2 crore from several individuals by portraying himself as an investor associated with an e-commerce compa n The accused allegedly collected around Rs 2 crore from several individuals by portraying himself as an investor associated with an e-commerce company and promising investors monthly returns of 10 percent.
n The investigation found that the money was allegedly received through multiple bank accounts, after which the accused reportedly failed to honour his commitments and became unresponsive to the investors.
n The EOW said the investigation prima facie established that the accused had dishonestly obtained substantial amounts of money on the promise of unusually high returns, disclosing the commission of an offence punishable under Section 420 IPC.
The investigation found that the money was allegedly received through multiple bank accounts, after which the accused reportedly failed to honour his commitments and became unresponsive to the investors.
The EOW said the investigation prima facie established that the accused had dishonestly obtained substantial amounts of money on the promise of unusually high returns, disclosing the commission of an offence punishable under Section 420 IPC.
Further investigation in the case is underway, officials said.
EOW Issues Public Advisory
The Economic Offences Wing has advised the general public to remain vigilant against fraudulent investment schemes offering unusually high or guaranteed returns.
Citizens have been urged to verify the credentials of individuals and companies before investing, avoid transferring money on the basis of unverified assurances and promptly report any suspected case of financial fraud or cheating to the concerned authorities | 