Haryana-based MBBS doctor among 9 held
Ganderbal: In one of the biggest crackdowns on cybercrime in the district, Ganderbal Police have dismantled a sophisticated transnational online investment racket that allegedly defrauded investors across the country of over ₹209 crore through phishing operations and fake trading platforms.
Addressing a press briefing, the Senior Superintendent of Police (SSP) Ganderbal said that the case was registered following a complaint lodged by Firdous Ahmad Mir, a resident of Safapora, Ganderbal. Acting swiftly, Police Station Ganderbal registered FIR No. 08/2026 under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act, launching a comprehensive investigation into allegations of identity theft and large-scale online financial fraud orchestrated by an organised cybercrime network.
Considering the magnitude and complexity of the case, SSP Ganderbal, Khalil Ahmad Poswal (JKPS), constituted a Special Investigation Team (SIT) comprising cybercrime experts and seasoned investigators to probe the matter.
During the investigation, police uncovered multiple fraudulent online investment websites, including paisavault.com, which were promoted aggressively through social media platforms and search engines. These fake portals lured unsuspecting victims by promising exceptionally high returns on cryptocurrency and coin trading investments.
Once victims deposited funds, the money was funnelled into numerous local bank accounts belonging to individuals from districts including Budgam, Srinagar, Ganderbal, Baramulla, and other parts of Kashmir. These accounts were allegedly arranged and controlled by local operatives acting in coordination with the main conspirators.
The funds were then rapidly transferred through multiple layers of transactions, both interstate and international, in a calculated attempt to conceal the money trail and evade detection by law enforcement agencies.
According to the SSP, investigators identified the alleged kingpin as Ekant Yogdutt, alias “Dr Morphine,” a resident of Hisar, Haryana. Police said he reportedly gained expertise in cyber fraud techniques during his MBBS studies in the Philippines and is suspected to have maintained links with certain Chinese nationals.
The accused is alleged to have established a network of regional heads and account mobilizers in Kashmir. They reportedly targeted economically weaker sections, particularly Below Poverty Line (BPL) account holders, persuading them to hand over their bank accounts and ATM cards in exchange for monthly payments ranging between ₹8,000 and ₹10,000.
The investigation further revealed the suspected involvement of certain bank officials who allegedly facilitated the operation by providing QR codes linked to these accounts. These QR codes were uploaded onto fake investment websites to receive deposits from investors across India.
The fraudsters also operated multiple Telegram channels and groups to circulate updated QR codes. Whenever cybercrime units froze suspicious accounts following complaints, the accused would immediately activate new accounts and upload fresh QR codes to continue the fraudulent activities without interruption.
So far, police have identified 835 bank accounts linked to the scam and verified transactions in 290 of them. Preliminary analysis has revealed deposits amounting to ₹209 crore from investors across the country. Authorities estimate that the total fraud amount could exceed ₹400 crore once complete verification of all accounts is carried out.
The prime accused, Ekant Yogdutt alias “Dr Morphine,” was arrested by Ganderbal Police at Delhi International Airport upon his return from China. Besides him, eight other accused persons from various parts of Kashmir have been apprehended in connection with the case.
Police officials stated that further investigation is underway to trace the complete money trail, identify additional accomplices and beneficiaries, and initiate proceedings for attachment of properties acquired through the proceeds of crime.
The SSP urged citizens to remain vigilant and avoid investing in online schemes that promise unrealistic or guaranteed high returns. The public has also been cautioned against renting out their bank accounts or sharing ATM cards and banking credentials for financial incentives, warning that such actions can attract serious legal consequences.
Victims of cyber fraud are advised to immediately report incidents through the National Cyber Crime Reporting Portal at cybercrime.gov.in or contact the toll-free helpline number 1930 for prompt assistance.
Further updates are awaited as the investigation progresses.