EOW Kashmir files chargesheet against man in alleged ₹2 crore investment fraud case
SRINAGAR — The Economic Offences Wing (EOW) Kashmir of Crime Branch J&K has filed a chargesheet against a man accused of allegedly defrauding people of around ₹2 crore by promising monthly returns of 10 per cent on investments.
The chargesheet has been filed against Junaid Ul Islam, son of Nazir Ahmad Baba, a resident of Alamdar Colony, Charar-i-Sharief in Budgam district, before the Court of Forest Magistrate, Srinagar, in connection with FIR No. 07/2025 registered under Section 20 IPC, the agency said.
According to the investigation, the case originated from a written complaint alleging that the accused approached the complainants and claimed to be working as an investor with e-commerce company Amazon in Bengaluru.
He allegedly induced them to invest money by promising monthly profits of 10 per cent. The complainants reportedly paid him approximately ₹2 crore, after which he left for Bengaluru and became uncontactable.
The EOW said the evidence collected during the investigation established that the accused had allegedly induced the victims through deceptive assurances of high returns, causing wrongful financial loss to the complainants.
The investigation has been completed and the chargesheet submitted before the court for judicial determination, the agency said.
The accused was arrested in Bengaluru by a special EOW Kashmir team on August 23, 2026, and is currently lodged in Central Jail, Srinagar. His bail application has been rejected by the City Judge, Srinagar. — (KIMS)
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