Examiner Bureau | Srinagar:
The Economic Offences Wing (EOW) Kashmir of the Crime Branch Jammu and Kashmir has arrested a man from Budgam who was allegedly evading arrest for nearly a year in connection with a suspected financial fraud involving around Rs 2 crore, officials said.
The accused, 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 in compliance with a warrant issued by the 4th Additional Munsiff Judicial Magistrate, Srinagar.
He was wanted in FIR No. 07/2025, registered at Police Station EOW Kashmir under Section 420 of the RPC, in connection with allegations of cheating and financial fraud.
According to the investigating agency, a preliminary inquiry prima facie substantiated allegations that Junaid Ul Islam had collected approximately Rs 2 crore from several individuals by allegedly portraying himself as an investor associated with an e-commerce company.
The accused reportedly promised investors monthly returns of 10 per cent, encouraging them to transfer funds through multiple bank accounts.
The agency alleged that after receiving the money, the accused failed to honour his commitments and subsequently became unresponsive to those who had invested their funds.
The investigation, according to the Crime Branch, prima facie indicated that substantial amounts had allegedly been obtained dishonestly on the assurance of unusually high returns, leading to the registration of the case under the relevant cheating provisions.
Officials said the accused had remained unavailable to the investigating agency for an extended period before being traced to Bengaluru.
His arrest was subsequently carried out in accordance with the warrant issued by the competent court.
The EOW Kashmir is continuing its investigation to establish the full extent of the alleged financial transactions, identify all persons who may have been affected and determine the precise flow of the funds.
Further investigation is underway, officials said.
The Crime Branch has meanwhile urged members of the public to exercise caution while considering investment opportunities that promise unusually high, assured or guaranteed returns.
The agency advised prospective investors to independently verify the credentials and registration status of individuals, companies and investment schemes before transferring money.
It also cautioned people against making financial decisions solely on the basis of promises of quick or exceptionally high returns.
The case highlights the risks associated with unverified investment schemes and underscores the importance of conducting proper due diligence before handing over funds to individuals or private entities.
