Srinagar, Oct 27 (JKNS): The Special Crime Wing Kashmir of Crime Branch J&K has filed a charge-sheet against a Uttar Pradesh resident accused of allegedly cheating 12 Kashmir residents of ₹16.78 lakh through a purported forex investment scheme promising lucrative returns within a short period.
As per news agency JKNS, The charge-sheet has been filed before the Court of Chief Judicial Magistrate, Srinagar, in connection with FIR No. 18/2022 registered at Police Station Special Crime Wing (SCW), Kashmir, against Sunil Singh, son of Arjun Singh, a resident of Pratap Vihar, Ghaziabad, Uttar Pradesh. He has been booked under Section 420 of the Indian Penal Code (IPC) and Section 5 read with Section 23 of the Banning of Unregulated Deposit Schemes Act, 2019.
The case originated from a complaint lodged by Abid Hussain Joo and 11 other Srinagar residents, who alleged that the accused had induced them to invest their hard-earned money in a purported forex investment venture operating under the name ‘Tronix Power & Capital Investment Programme, Delhi’, promising substantial returns within a short period.
During the preliminary enquiry, it allegedly emerged that the complainants had been persuaded to invest their money through assurances of lucrative returns and were subsequently cheated, leading to the registration of the case.
Investigation revealed that a total amount of ₹16,78,500 had been transferred by the complainants through banking channels into accounts linked to the accused. The Reserve Bank of India (RBI) also conveyed that the investment programme was not registered with it.
After completing the investigation and collecting evidence, the Special Crime Wing submitted the charge-sheet before the competent court for judicial consideration and further proceedings in accordance with the law.
The Special Crime Wing Kashmir has advised the public to exercise due diligence and verify the credentials and regulatory status of investment schemes with the competent authorities before investing their money.
People have also been urged to promptly report suspected investment fraud to the concerned authorities. (JKNS)
