Srinagar, Dec 20: Jammu and Kashmir Police on Wednesday carried out searches at multiple locations and registered offices of an investment company to probe multi-crore fraud in the Union Territory.
The police have already sealed the office of the company accused of duping the depositors.
During searches incriminating materials including electronic devices and documents were seized, police said.
The alleged fraud scam surfaced when the depositors alleged that a company, operating under the name “Curative Survey Private Limited” had deceived depositors of at least Rs 59 crore after promising to double their investment in 15 days.
“During the preliminary investigation it revealed that the said company exhorted the 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,” a police spokesman said.
In the last few days the said company allegedly stopped the due payment to persons registered with it, and its promoters and directors absconded and were not reachable by their staff and registered individuals.
Taking cognizance of the matter, Cyber Police Kashmir registered a case, under the relevant sections of Indian Penal Code and IT Act in Cyber Police Station 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,” police spokesman said.
In the initial stages of the investigation, Cyber Police Kashmir has frozen several identified accounts operated by the said company.
Police said the registered owner promoters of this company are being identified and being investigated. The role of local office staff and persons promoting the schemes on social media is also being investigated.
Kashmir's Divisional Commissioner Vijay Kumar Bidhuri said scammers who cheated people won't be spared.
“Police have taken strong cognisance of the money-doubling issue and the matter is under investigation. Those who cheated people won't go unpunished,” he said.
Meanwhile, the National Conference and Peoples Democratic Party have expressed concern about the scam.
