EOW Kashmir arrests man in Rs 2 crore investment fraud case

The Economic Offences Wing (EOW) Kashmir of the Crime Branch Jammu and Kashmir has arrested Junaid Ul Islam, a man wanted for nearly a year in connection with an alleged Rs 2 crore investment fraud. The arrest took place in Mangammanapalya, Bengaluru, following a warrant issued by the 4th Additional Munsiff Judicial Magistrate in Srinagar.

Investigations indicate that Islam allegedly defrauded several individuals by posing as an investor for an e-commerce company. He reportedly promised monthly returns of 10 per cent to entice victims into transferring funds through multiple bank accounts. After collecting the money, he allegedly failed to meet his financial commitments and became unresponsive. The case is being investigated under Section 420 of the RPC/IPC for cheating and financial fraud.