Srinagar, August 24, 2026 (Yes Punjab News)
The Economic Offences Wing (EOW) Kashmir of the J&K Crime Branch has arrested an accused from Bengaluru in connection with an alleged Rs 2 crore investment fraud case, officials said on Monday.
The accused, identified as Junaid-Ul-Islam, son of Nazir Ahmad Baba and a resident of Alamdar Colony, Phase 1, Charar-e-Sharief in Budgam, was arrested from Mangammanapalya in Bengaluru.
Officials said the arrest was carried out in compliance with a warrant issued by the Court of the 4th Additional Munsiff Judicial Magistrate, Srinagar. Junaid-Ul-Islam was wanted in FIR No. 07/2025 registered under Section 420 RPC at Police Station EOW Kashmir and had allegedly been evading arrest for nearly a year.
According to investigators, the case followed a preliminary inquiry that substantiated allegations of cheating and financial fraud. The accused allegedly collected around Rs 2 crore from several individuals by presenting himself as an investor associated with an e-commerce company and promising monthly returns of 10 per cent.
The investigation found that the money was transferred through multiple bank accounts. The accused allegedly failed to fulfil the promised commitments and subsequently stopped responding to investors.
The EOW said its investigation had prima facie established that substantial amounts were allegedly obtained dishonestly on the assurance of unusually high returns, indicating the commission of an offence punishable under Section 420 IPC.
Further investigation into the case is underway.
The EOW has advised the public to remain cautious about investment schemes promising unusually high or guaranteed returns. Citizens have been urged to verify the credentials of individuals and companies before investing, avoid transferring money based on unverified assurances and report suspected financial fraud or cheating to the authorities promptly.
The Economic Offences Wing of the J&K Crime Branch handles high-profile economic offences requiring specialised investigative capabilities, supported by technology and scientific expertise.
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