Cautions people to verify credentials of online schemes before investing
Srinagar: The Jammu and Kashmir Police has carried out raids at five locations in Srinagar as part of a probe into a multi-crore investment fraud, officials said on Wednesday.
Electronic gadgets and documents were seized during the raids by the cyber wing of the Jammu and Kashmir Police on Tuesday night, they said.
As per police officials, the fraudsters set up a company named ‘Curative Survey’ in the Karan Nagar area and duped several people of at least Rs 59 crore under the pretext of doubling their investment within two weeks.
The officials, however, said the amount taken from the people might increase as the investigation is still in progress.
Initially, the company made good on its promise which brought in more investors and the scheme was promoted by at least two local YouTubers adding to its popularity.
Soon after, the owners of the company disappeared, officials said, adding that they found the Karan Nagar office locked.
One of the YouTubers, Idris Mir, said he could not be held responsible for the fraud as he had featured the company on his channel as a paid promotion.
“It was not only me who did it. There are others as well. We have our own checks to see whether the company is a legal entity. Only then we promote the company. This company was in operation for nearly one year with branches in Jammu, Srinagar, Pattan, and Sangrama. What was happening during all this time?” he told PTI.
Meanwhile, the Cyber Police Kashmir in a statement said that it received an information that a company, operating under the name “Curative Survey Private Limited” and through a fraudulent website, has allegedly scammed and cheated individuals.
The victims were deceived by the fraudulent company, enticing them to invest their hard-earned money with false promises of substantial returns.
The preliminary investigations revealed that the said company exhorted common public to register on its website and become a partner in surveys it was undertaking. The registered individuals were promised payment for undertaking those surveys, said the statement.
In last few days the said company allegedly stopped the due payment to person registered with it, and its promoters and directors absconded and were not reachable by their staff and registered individuals, the statement further said.
It said that taking cognizance of the matter, Cyber Police Kashmir registered a case, FIR No 39/2023, under the relevant sections of IPC and IT Act in Cyber PS Kashmir Zone, Srinagar.
Investigations and details from some victims indicate that the company had allegedly promised payments to person who were registering on their website and carrying out daily survey activities. The lure of easy money within a short time span attracted unsuspecting individuals to subscribe for this allegedly fake and fraudulent scheme.
In the initial stages of the investigation, Cyber Police Kashmir has frozen several identified accounts operated by the said company.
Search were conducted at multiple locations and registered offices of company and same stand sealed as well. During searches incriminating materials including electronic devices and documents were seized, said the statement.
It further said that the registered owner promoters of this company are being identified and being investigated.
“The general public is once again advised to be cautious of online scams and urged to verify the credentials of online schemes before investing their hard-earned money. Citizens affected by this scam are requested to share relevant information, if any, with the investigation agency,” added the statement.
