Freezes Several Identified Accounts, Urges Affected To Share Relevant Info

Srinagar: Police has carried out raids at multiple locations in Srinagar as part of a probe into a multi-crore investment fraud, officials said on Wednesday.
Electronic gadgets and documents were seized during the raids by the cyber wing of the Jammu and Kashmir Police on Tuesday night, they said.
Inspired by the Hindi film ‘Phir Hera Pheri’, the fraudsters set up a company named ‘Curative Survey limited’ in the Karan Nagar area and duped several people of at least Rs 59 crore under the pretext of doubling their investment within two weeks, officials said.
The officials, however, said the amount might increase as the investigation is still in progress.
Initially, the company made good on its promise which brought in more investors and the scheme was promoted by at least two local YouTubers adding to its popularity.
Soon after, the owners of the company disappeared, officials said, adding that they found the Karan Nagar office locked.
One of the YouTubers, Idris Mir, said he could not be held responsible for the fraud as he had featured the company on his channel as a paid promotion.
“It was not only me who did it. There are others as well. We have our own checks to see whether the company is a legal entity. Only then we promote the company. This company was in operation for nearly one year with branches in Jammu, Srinagar, Patton, and Sangrama. What was happening during all this time?” he asked.
What police says
Cyber Police Kashmir received an information that a company, operating under the name “Curative Survey Private Limited” and through a fraudulent website, has allegedly scammed and cheated individuals.
The victims were deceived by the fraudulent company, enticing them to invest their hard-earned money with false promises of substantial returns.
During the preliminary investigation it revealed that the said company exhorted common public to register on its website and become a partner in surveys it was undertaking. The registered individuals were promised payment for undertaking those surveys.
In last few days the company allegedly stopped the due payment to person registered with it, and its promoters and directors absconded and were not reachable by their staff and registered individuals.
Taking cognizance of the matter, Cyber Police Kashmir registered a case, FIR No 39/2023, under the relevant sections of IPC and IT Act in Cyber PS Kashmir Zone, Srinagar.
Investigations and details from some victims indicates that the company had allegedly promised payments to persons who were registering on their website and carrying out daily survey activities. The lure of easy money within a short time span attracted unsuspecting individuals to subscribe for this allegedly fake and fraudulent scheme.
In the initial stages of the investigation, Cyber Police Kashmir has frozen several identified accounts operated by the said company.
Search were conducted at multiple locations and registered offices of company and same stands sealed as well. During searches incriminating materials including electronic devices and documents were seized.
The registered owner promoters of this company are being identified and being investigated. The role of local office staff and persons promoting the schemes on social media is also being investigated.
The general public is once again advised to be cautious of online scams and urged to verify the credentials of online schemes before investing their hard-earned money. Citizens affected by this scam are requested to share relevant information, if any, with the investigation agency.
The investigation of the said case is being done expeditiously.

KR Desk