The Economic Offences Wing (EOW) of Jammu and Kashmir Police launched extensive searches across multiple locations in Srinagar on Wednesday, targeting a sophisticated fraud case involving fake investment schemes. The raids are part of an ongoing probe into a complaint filed earlier this year, accusing two individuals of duping victims with promises of high returns on investments in Adarsh Cooperative Society, SBI Life Insurance, and HDFC Insurance.

The accused, identified as Majid Nazir Najar of Batamaloo and Mubarak Ahmad Rather of Gulshan Nagar, allegedly posed as authorized representatives of these financial institutions, luring victims with forged deposit certificates. Investigations revealed the certificates were fake, confirming the duo’s involvement in the scam, which defrauded victims of significant sums. Both suspects were arrested on August 6 in connection with FIR No. 11/2025, registered under Sections 420, 467, 468, 471, and 120-B of the Indian Penal Code for cheating, forgery, and criminal conspiracy.

A police spokesperson stated that house searches are underway to uncover additional evidence linked to the accused. The EOW is urging the public to verify credentials before investing, emphasizing their commitment to combating economic crimes. The investigation continues as authorities aim to dismantle the fraudulent network and protect potential victims.

Also Read: Marathi activists detained for supporting pigeon feeding ban

Also Read: Trump’s “Soft Landing” for Ousted Loyalists