Srinagar, Aug 24 (JKNS): The Economic Offences Wing (EOW) Kashmir of Crime Branch J&K has arrested an accused allegedly involved in a ₹2 crore investment fraud case, from Mangammanapalya in Bengaluru, officials said.
Spokesperson in a statement issued here to news agency JKNS said, EOW Kashmir of Crime Branch J&K has arrested accused Junaid Ul Islam, son of Nazir Ahmad Baba, resident of Alamdar Colony, Phase 1, Charar-e-Sharief, Budgam, from Mangammanapalya, Bangalore.
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 year.
This investigation agency registered a case under Section 420 IPC after preliminary inquiry prima facie substantiated allegations of cheating and financial fraud against the accused, Junaid-Ul-Islam.
The accused allegedly collected approximately Rs. 2 crore from several individuals by representing 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.
The investigation prima facie established that the accused had dishonestly obtained substantial amounts on the promise of high returns, thereby disclosing the commission of an offence punishable under Section 420 IPC. Further investigation in the case is underway.
The general public is advised to remain vigilant against fraudulent investment schemes promising unusually high or guaranteed returns. Citizens should verify the credentials of individuals and companies before investing money and avoid transferring funds on the basis of unverified assurances. Any suspected financial fraud or cheating should be promptly reported to the concerned authorities. (JKNS)
