A fake online investment scam worth Rs 209 crore has been uncovered in Ganderbal district, Jammu and Kashmir. The Jammu and Kashmir Police arrested an MBBS doctor from Haryana, along with eight others from different parts of Kashmir, in connection with the scam. The scam was revealed following a complaint lodged by Firdous Ahmad Mir, leading to the registration of a case under various sections of the law.
SSP Ganderbal Khalil Ahmad Poswal formed a Special Investigation Team (SIT) to investigate the scam. The fraudsters were found to be operating fake online investment and trading platforms, which were promoted through social media and Google ads, including websites like paisavault.com. Victims were enticed with promises of high returns and were persuaded to invest in fake coin-trading platforms.
The main handler of the scam was identified as Ekant Yogdutt alias Dr Morphine, a resident of Hisar, who had learned cyber fraud techniques while studying in the Philippines. He was found to have connections with individuals from China. Local operatives were also involved in the scam, targeting below-poverty-line account holders and convincing them to share their bank accounts and ATM cards in exchange for monthly payments.
Investigations revealed the involvement of bank employees who allegedly provided QR codes of accounts for use on fake investment websites. The fraudsters operated Telegram channels and groups to facilitate their activities. The police have identified 835 bank accounts and verified transactions in 290 accounts, amounting to Rs 209 crore from investors across India.
Ekant Yogdutt was arrested at the Indira Gandhi International Airport upon his return from China, while the other eight accused were apprehended in various locations in Kashmir. The police have cautioned the public against falling for fake investment schemes and renting out bank accounts for monetary gain. Further investigations are ongoing to trace the money trail and seize the properties of the accused.
