Srinagar, Aug 8: The Economic Offences Wing (Crime Branch Kashmir) has filed a preliminary chargesheet in a multi-crore online financial fraud case on Friday.
According to a statement, the preliminary chargesheet was filed in a case under FIR number 28/2025 under Sections 318(4), 316(5) read with 61(2) of the Bharatiya Nyaya Sanhita (BNS), 2023, of Police Station Kangan (transferred to Economic Offences Wing) before the Hon’ble Court of Judicial Magistrate 1st Class, Kangan.
The case originated from a complaint, wherein it was alleged that one Shahnawaz Ahmad Shah, S/o Gh. Nabi Shah, R/o Rather Mohalla Kangan working as Probationary Officer, J&K Bank, Branch Kangan, approached him with a fraudulent investment proposal. The complainant was lured into investing in a financial scheme promising lucrative returns through online trading.
Following the registration of the case, the matter was transferred to the Crime Branch Kashmir for in-depth investigation.
During the course of investigation, it came to light that the accused individuals including Shahnawaz Ahmad Shah, S/o Gh. Nabi Shah, Gh. Nabi Shah, S/o Late Gh. Mohammad Shah, Rumaisa Jan, D/o Gh. Nabi Shah, all residents of Rather Mohalla, Kangan, and Amir Bashir Magray, S/o Bashir Ahmad Magray, R/o Bonizal Haripora Kangan, District Ganderbal in connivance with one another, hatched a criminal conspiracy and cheated hundreds of innocent people to the tune of more than 53 crore rupees through fraudulent and dishonest means, under the pretext of online financial trading schemes.
Accordingly, a preliminary charge-sheet in the matter has been submitted before the Court of Law for judicial determination, the statement reads.
Pertinent to mention here that four accused individuals have already been arrested in the matter.
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