Fake deposit schemes uncovered; forged documents used to cheat investor
Diplomat Correspondent
Srinagar,(DD)The Economic Offences Wing (EOW) of Crime Branch Kashmir has arrested two individuals for their involvement in a financial fraud case, wherein they duped a complainant by promising high returns on fake investment schemes.
The accused—Majid Nazir Najar, son of Nazir Ahmad Najar, a resident of Batamaloo near Mehboob Public School Srinagar, and Mubarak Ahmad Rather, son of Nissar Ahmad Rather, a resident of Gulshan Nagar, Gulposh Colony—were arrested in connection with FIR No. 11/2025, registered under sections 420, 467, 468, 471, and 120-B of the Indian Penal Code at Police Station EOW, Crime Branch Kashmir.
As per the investigation, the duo falsely projected themselves as authorised agents of reputed financial institutions including Adarsh Cooperative Society, SBI Life Insurance, and HDFC Insurance. They lured the complainant into investing in various deposit schemes by promising high returns and issuing fake deposit certificates.
Upon verification, the certificates provided were found to be forged and fraudulent. Following the registration of the case, the investigation confirmed the accused’s involvement, leading to their arrest. Both individuals are currently in custody and are being further interrogated.
The Crime Branch Kashmir reaffirmed its commitment to combating economic offences and urged the public to remain vigilant, thoroughly verify investment offers, and confirm the credentials of agents before making any financial transactions(DD)