Excelsior Correspondent
Srinagar, Aug 8: The Crime Branch Kashmir (CBK) today chargesheeted four accused in a multi-crore online financial fraud case.
In a statement issued here, CBK said that it has filed a preliminary chargesheet in Case FIR No. 28/2025 of Police Station Kangan, transferred to the Economic Offences Wing, before the Court of Judicial Magistrate 1st Class, Kangan.
The chargesheet has been filed under Sections 318(4), 316(5) read with 61(2) of the Bharatiya Nyaya Sanhita (BNS), 2023.
As per CBK, the case originated from a complaint, wherein it was alleged that one Shahnawaz Ahmad Shah, son of Ghulam Nabi Shah, resident of Rather Mohalla, Kangan, working as Probationary Officer, J&K Bank, Branch Kangan, approached him with a “fraudulent investment proposal.”
“The complainant was lured into investing in a financial scheme promising lucrative returns through online trading,” it stated.
Following the registration of the case, CBK stated that the matter was transferred to it for in-depth investigation.
During the course of investigation, CBK stated, it came to light that the accused individuals — Shahnawaz Ahmad Shah, son of Gh. Nabi Shah; Gh. Nabi Shah, son of Late Gh. Mohammad Shah; Rumaisa Jan, daughter of Gh. Nabi Shah, all residents of Rather Mohalla, Kangan; and Amir Bashir Magray, son of Bashir Ahmad Magray, from Bonizal Haripora Kangan, District Ganderbal — “in connivance with one another, hatched a criminal conspiracy.”
These individuals, CBK said, cheated hundreds of innocent people to the tune of more than Rs 53 crore through “fraudulent” and “dishonest means”, under the pretext of online financial trading schemes.
“Accordingly, a preliminary charge-sheet in the matter has been submitted before the Court of Law for judicial determination.”
All the accused individuals have already been arrested in the matter, CBK said.
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