J&K police arrests one in financial fraud case

Srinagar, Dec 31 (PTI) The Jammu and Kashmir Police has arrested one person from Tamil Nadu in connection with a financial fraud case that came to light in the union territory last week.

“Based on the statement of victims, technical and digital evidence, the SIT identified six accused persons, all residents outside the UT of Jammu and Kashmir. Different Police teams were constituted to arrest the identified accused persons. One accused person has been arrested by the SIT from Tamil Nadu and is taken on police remand,” a police spokesman said on Sunday.

The spokesman said efforts were on to arrest the remaining accused persons also.

“The extent of financial loss to victims is being assessed by collection of related evidence and the statement of witnesses. All the company’s account numbers have been debit-frozen, and further investigation is ongoing. Involvement of employees and local contacts of the main accused persons is being investigated,” he said.

The spokesman said the social media influencers who promoted the company through various platforms were also examined and their involvement in crime is being investigated.

So far, Cyber Police Station Kashmir Zone Srinagar has received 27 complaints, he added.

On December 19, police received a complaint that a bogus company operating under the name ‘Curative Survey Private Limited’ had scammed and cheated the unsuspecting public through a fraudulent website by promising them significant returns on their investments.

The company had deceived the subscribers which persuaded them to invest their hard-earned money with fake promises of returns. After misrepresenting and cheating, the company became unresponsive, leaving subscribers in the dark and leading to chaos, anguish, and protests.

During the course of investigation, police discovered that the company had opened six offices in the Kashmir Valley and one regional office in Jammu in the month of January’?February 2023.

“All seven offices were subsequently searched, sealed and the incriminating evidence found in these offices was seized and sent to the FSL for analysis and expert opinion. Numerous employees of the company from across Jammu and Kashmir were identified, examined and their statements recorded,” the spokesman said.