Srinagar, Aug 24(GNS): The Economic Offences Wing (EOW) Kashmir of Crime Branch J&K has arrested an accused wanted in a Rs. 2 crore investment fraud case from Bangalore.
In a handout to GNS, the CBK said that the accused has been identified as Junaid-Ul-Islam, son of Nazir Ahmad Baba, resident of Alamdar Colony Phase 1, Charar-e-Sharief, Budgam. He was arrested from Mangammanapalya, Bangalore.
Officials said the arrest was made in compliance with orders of the Hon’ble Court of 4th Additional Munsiff Judicial Magistrate, Srinagar, which had issued a warrant against him. He was wanted in FIR No. 07/2025 under Section 420 RPC, Police Station EOW Kashmir, and had been evading arrest for the past one year.
As per EOW, a preliminary enquiry prima facie substantiated allegations of cheating and financial fraud against the accused. He allegedly collected approximately Rs. 2 crore from several individuals by projecting himself as an investor associated with an e-commerce company and promising monthly returns of 10 percent.
After receiving the money through multiple bank accounts, he failed to honour his commitments and became unresponsive. Investigation prima facie established that he dishonestly obtained substantial amounts on the promise of high returns, thereby disclosing commission of offence punishable under Section 420 IPC.
Further investigation in the case is underway.
Meanwhile, EOW Kashmir has advised general public to remain vigilant against fraudulent investment schemes promising unusually high or guaranteed returns, verify credentials of individuals and companies before investing money, and report any suspected financial fraud promptly to concerned authorities.(GNS)
