Srinagar, July 23: The Economic Offences Wing (EOW) Kashmir of the Crime Branch has filed a chargesheet against four accused in connection with an alleged ₹2.50 crore shawl fraud case involving fraudulent business transactions, officials said on Wednesday.
The chargesheet in FIR No. 55/2022, registered under Sections 420, 120-B and 201 of the Ranbir Penal Code (RPC), was filed before the Court of the Sub Judge Small Causes, Srinagar, after completion of the investigation.
The accused have been identified as Arshid Ahmad Shora alias Bilal, Firdous Ahmad Mir, Firdous Ahmad Bhat and Aftab Ahmad Shah, all residents of Srinagar.
According to the investigation, the accused, allegedly led by Arshid Ahmad Shora alias Bilal, induced the complainant to supply high-value shawls worth over ₹2.50 crore by promising substantial financial returns. However, after taking possession of the consignment, they allegedly failed to make the agreed payments, causing significant financial loss to the complainant.
During the investigation, the EOW recovered 338 shawls valued at around ₹68 lakh. The recovered shawls were handed over to the complainant under the directions of the competent court.
With the investigation complete, the Crime Branch has initiated judicial proceedings by filing the chargesheet against the accused.
The Crime Branch has also urged the public to remain vigilant against economic frauds and financial scams. It advised citizens to report suspicious financial activities to the Senior Superintendent of Police, EOW Kashmir, and encouraged victims to lodge complaints through the wing’s official email address. (Agencies)
