In a significant operation, the Jammu and Kashmir Police have uncovered a major online investment scam, leading to the arrest of nine individuals. The investigation was initiated based on a complaint from Firdous Ahmad Mir, a resident of Safapora Ganderbal. Following the complaint, an FIR was filed at the Ganderbal Police Station, allowing authorities to probe allegations of identity theft and fraud perpetrated by an organized group of online scammers. Senior Superintendent of Police (SSP) Ganderbal, Khalil Ahmad Poswal, established a Special Investigation Team (SIT), which included experts to address the complexities of the case.
Scheme Involves Social Media Deception
Authorities have discovered that several online investment platforms on social media use deceptive tactics to entice the general public into investing. Victims who participate in these scams are led to believe they are engaging in legitimate coin trading, only for their funds to be diverted into local bank accounts belonging to individuals from regions such as Budgam, Srinagar, Ganderbal, and Baramulla. The police report indicates that these accounts were manipulated by the fraudsters, who quickly moved the invested money into various accounts located outside Jammu and Kashmir, employing multiple layers of transactions to obscure the money trail.
Main Accused Identified as Medical Student
The investigation revealed that the chief orchestrator of this fraudulent scheme has been identified as Ekant Yogdutt, who also goes by the name Dr. Morphine. Residing in Haryana, Yogdutt honed his tactics while pursuing an MBBS degree in the Philippines and has established connections with individuals in China. He collaborated with several local operatives, who acted as regional leaders and account mobilizers to facilitate the scam.
Local Involvement and Bank Employee Complicity
During the course of the investigation, it became evident that local fraudsters targeted individuals from below-poverty-line (BPL) backgrounds, persuading them to provide their bank accounts and ATM cards in exchange for monthly payments ranging from Rs 8,000 to Rs 10,000. The involvement of bank employees has also surfaced, with some providing QR codes for accounts that were subsequently uploaded onto fraudulent websites. These scammers have set up Telegram channels and groups to continuously circulate new QR codes. When heavy transactions occur in these accounts, cyber units across the country often freeze them upon receiving complaints, prompting fraudsters to promptly upload fresh QR codes to continue their operations.
Substantial Financial Impact and Further Investigations
Police investigations have thus far revealed details concerning 835 accounts, with transactions from 290 of these accounts totaling Rs 209 crore received from various investors across India. Upon further verification, investigators anticipate that the total amount could exceed Rs 400 crore. The main accused, Ekant Yogdutt, was arrested by authorities at the Delhi airport while he was returning from China. The other eight individuals taken into custody are from different areas within the Kashmir region. Ongoing investigations aim to trace the financial trail and attach the properties linked to the accused individuals.
Public Advisory Issued
Authorities have cautioned the general public against falling victim to these fraudulent websites that advertise enticing returns. They also advised individuals against renting out their bank accounts in exchange for minimal financial compensation. Victims and aggrieved parties have been encouraged to lodge complaints via the official cybercrime portal and toll-free hotline 1039.
