Srinagar 13 August :- The Economic Offences Wing (EOW) of the Crime Branch Kashmir conducted raids at various places in Srinagar on Wednesday in relation to an alleged investment scam. The raids are part of an on-going investigation in FIR No. 11/2025, which was registered under Sections 420 (cheating), 467 (forgery of valuable security), 468 (forgery for cheating), 471 (making use of forged documents), and 120-B (criminal conspiracy) of the Indian Penal Code.The case, as per an official communication, is based on a complaint lodged online with the Crime Branch Kashmir.
Two persons, namely Majid Nazir Najar of Batamaloo and Mubarak Ahmad Rather of Gulshan Nagar, it was alleged, had assured high returns on investments in Adarsh Cooperative Society, SBI Life Insurance, and HDFC Insurance. The accused have been said to have given the victim deposit certificates, which turned out to be fictitious during the investigation.The accused impersonated the agents of financial institutions, enticing the complainant to invest in investment scams, authorities said. The full scale of the scam and the other likely victims are still under investigation. The EOW has recently gone tough against financial scams in the area, appealing to the public to check into investment opportunities before sending in the money.
