Srinagar : The Economic Offences Wing (EOW) Kashmir of Crime Branch J&K has arrested an accused in connection with an alleged investment fraud involving approximately Rs 2 crore, officials said on Monday.
The accused, identified as Junaid Ul Islam, son of Nazir Ahmad Baba and a resident of Alamdar Colony, Phase 1, Charar-e-Sharief, Budgam, was arrested from Mangammanapalya in Bengaluru.
The arrest was carried out in compliance with the directions of the Court of the 4th Additional Munsiff Judicial Magistrate, Srinagar, which had issued a warrant against him.
Junaid Ul Islam 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 investigating 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, representing himself as an investor associated with an e-commerce company and promising investors monthly returns of 10 per cent.
The investigation found that the money was received through multiple bank accounts. However, the accused allegedly failed to honour the promised returns and subsequently became unresponsive to the investors.
The EOW said the investigation prima facie established that the accused had dishonestly obtained substantial amounts from individuals on the promise of high returns, thereby disclosing the commission of an offence punishable under Section 420.
Further investigation into the case is underway.
The Crime Branch has meanwhile advised the 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 money and to avoid transferring funds based on unverified assurances.
The public has also been advised to promptly report suspected cases of financial fraud or cheating to the concerned authorities.
