Kashmir Investment Scam: Cyber Police Launches Probe as Investors Lose Millions

Kashmir Investment Scam: Cyber Police Launches Probe as Investors Lose Millions

Asif Iqbal | December 19, 2023 | 04:44 PM IST | Kashmir | Follow on Google News

Kashmir Investment Scam: Cyber Police Launches Probe as Investors Lose Millions.image/respersentional

Kashmir Investment Scam: Cyber Police Launches Probe as Investors Lose Millions

A significant fraud has come to light in the region of Kashmir, where investors claim to have been swindled out of large sums of money by a local private company. The Cyber Police in Kashmir has initiated an investigation into the matter following numerous complaints from affected individuals.

Protests erupted in Srinagar as disgruntled investors voiced their grievances, asserting that the private investment firm had duped them of their hard-earned funds. According to one protester, they were lured into investing by the company’s promises of doubling their investments within a mere 15 days. While the firm initially fulfilled these commitments, communication abruptly ceased, raising suspicions among investors.

A particular investor disclosed that she and her family had invested around Rs 5 lakh in the firm, influenced by a social media influencer who endorsed the company’s credibility through videos on his YouTube channel. “Efforts to reach out to the company and its staff have gone unanswered recently. We have become victims of this fraudulent enterprise, losing our savings. The company has deceived numerous people, resulting in losses amounting to crores,” she lamented.

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Simultaneously, local employees, unaware of the firm’s background, claimed to have fallen prey to the fraudulent scheme as well. These employees, operating under the guidance of administrators situated in Chennai and occasionally in Srinagar, encouraged customers and investors to participate in investment plans promising a doubling of their money within a 15-day period.

“In the initial stages, the promised doubled amounts were credited to customers’ bank accounts, prompting employees to invest their salaries in the firm. Unfortunately, they too have suffered both financial losses and job terminations,” revealed an employee of the firm.

A senior official from the Cyber Police in Kashmir assured the public that they have received complaints against the implicated firm and are actively investigating the matter. “Those responsible will be held accountable and brought to justice,” the officer affirmed.

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Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.