Excelsior Correspondent
SRINAGAR, Aug 6: The Economic Offences Wing (EOW) of the Crime Branch Kashmir has arrested two individuals for allegedly cheating a local resident on the pretext of high-return investments in bogus deposit schemes.
The arrested accused have been identified as Majid Nazir Najar, a resident of Batamaloo near Mehboob Public School and Mubarak Ahmad Rather, a resident of Gulshan Nagar, Gulposh Colony.
The duo is involved in case FIR number 11/2025 registered under sections 420, 467, 468, 471, and 120-B of the IPC at Police Station EOW (Crime Branch Kashmir).
According to officials, the two accused projected themselves as authorized agents of reputed financial institutions like Adarsh Cooperative Society, SBI Life Insurance, and HDFC Insurance.
“They lured the complainant by promising high returns on investments and handed over deposit certificates as proof,” they said.
“However, these certificates were later found to be fake and forged during verification,” officials said.
They said following the registration of the case and investigation, sufficient evidence emerged confirming the involvement of the accused.
Both were accordingly taken into custody and are currently being questioned, added the officials.
Meanwhile, in a statement, the Crime Branch Kashmir has urged the public to remain alert against such fraudulent schemes and always verify the credentials of individuals before making financial investments.
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