Srinagar, Aug 13
The Economic Offences Wing of the J&K Crime Branch on Wednesday carried out searches at multiple locations in Srinagar city in connection with a fake investment scam wherein high returns were promised to investors.
A statement by the crime branch said, “The Economic Offences Wing (Crime Branch Kashmir) today carried out searches at multiple locations in District Srinagar in connection with case FIR No. 11/2025 under Section 420, 467, 468, 471, 120-B IPC of P/S EOW-S (Crime Branch Kashmir).
“The brief facts of the case are that Crime Branch Kashmir received an online complaint, wherein it was alleged that the complainant has been duped/ cheated by two fraudsters namely Majid Nazir Najar, son of Nazir Ahmad Najar, resident of Batamaloo, and Mubarak Ahmad Rather, son of Nissar Ahmad Rather, resident of Gulshan Nagar, Gulposh Colony, who promised high returns on investment in Adarsh Cooperative Society, SBI Life insurance and HDFC Insurance companies and provided the complainant with deposit certificates," said offiicals.
However, during the investigation, the certificates were found to be fake and forged. The accused individuals projected themselves as authorised representatives and agents working with various financial institutions and lured the complainant to make investments in various deposit schemes.