Srinagar: Police on Sunday said that six accused have been identified in the money-doubling scam which came to the fore earlier this month.
A police spokesman said that one of the accused has been held from Tamil Nadu while efforts are on to nab the others who have also been identified.
The scam came to light on December 19, 2023, when scores of victims found themselves deceived and the company – operating under the guise of ‘Curative Survey Private Limited’ – with which they had invested their money – having practically vanished in thin air, triggering chaos, anguish, and public protests.
Acting swiftly, a case (FIR No. 39/2023) was registered under Section 66D of the IT Act and Section 420 of the IPC at the Cyber Police Station in Kashmir Zone-Srinagar.
Recognizing the severity of the situation, a Special Investigation Team (SIT) was formed to delve into the matter, police said.
The investigation revealed that the fraudulent company had established six offices in the Kashmir Valley and one regional office in Jammu between January and February 2023. All seven offices were promptly searched, sealed, and incriminating evidence was confiscated for further analysis at the FSL.
Numerous employees associated with the company, spread across Jammu and Kashmir, were identified, examined, and their statements recorded.
Simultaneously, victims of the scam approached the SIT, providing crucial statements and aiding the ongoing investigation, police said.
The SIT, relying on victims’ statements, technical and digital evidence, identified six accused individuals, all residing outside the Union Territory of Jammu and Kashmir. Specialized police teams were mobilized to apprehend the identified culprits, resulting in the arrest of one suspect in Tamil Nadu, who is currently in police custody. Efforts are underway to apprehend the remaining accused persons.
The financial losses incurred by victims are being assessed through the collection of related evidence and witness statements. All bank accounts associated with the fraudulent company have been debit-frozen, and a comprehensive investigation is going on, police said.
It said the involvement of local employees and contacts of the main accused persons is also under scrutiny.
Additionally, the SIT is investigating the role of social media influencers who promoted the fraudulent company through various platforms. So far, the Cyber Police Station in Kashmir has received 27 complaints related to this scam, police informed.
