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The recent financial fraud in Kashmir, marked by the abrupt closure of a registered private limited company, Curative Survey, reveals a sophisticated Ponzi-style operation. Two Tamil Nadu residents allegedly raised Rs 69 crore, only to close offices and flee, leaving Rs 14 crore in traced transactions. Notably, a blogger in south Kashmir exposed the scam, emphasizing the lack of tech-centric whistleblowing. The company, initially registered as a proprietorship firm in Chennai, claimed involvement in wellness and cosmetic products but operated without authorisation and lacked membership in the Indian Direct Selling Association. The police have seized offices, bank accounts, and initiated an investigation, yet the whereabouts of the directors remain unknown. This incident follows a trend of financial fraud in Kashmir, including a recent chit fund scam orchestrated by police constables and historical cases involving non-banking finance companies like Kashmir Valley Finance. Authorities ar ....
Online scams: Unemployment is a major cause - Kashmir Times: Oldest English NewsPaper Jammu, Leading Newspaper Jammu Kashmir, Latest News about Jammu & Kashmir kashmirtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kashmirtimes.com Daily Mail and Mail on Sunday newspapers.
Srinagar, Dec 21: The Jammu and Kashmir Police’s cyber wing on Thursday asked the victims of Rs 59-crore online financial fraud to share information to aid the investigation into the case. Several people, including social media influencers, have been questioned in the case, officials said and added that multiple locations in the Kashmir Valley were ....
Freezes Several Identified Accounts, Urges Affected To Share Relevant Info
Srinagar: Police has carried out raids at multiple locations in Srinagar as part of a probe into a multi-crore investment fraud, officials said on Wednesday. Electronic gadgets and documents were seized during the raids by the cyber wing of the Jammu and Kashmir Police on Tuesday night, they said. Inspired by the Hindi ....