59 Crore Scam in Kashmir: Cyber Police Issues Statement

59 Crore Scam in Kashmir: Cyber Police Issues Statement

Srinagar, December 19: A significant financial scam has come to light in the Kashmir Valley, with investors claiming they were swindled out of substantial sums by a local company. Cyber Police Kashmir is currently investigating the matter after receiving numerous complaints.

Protestors gathered in Srinagar today to voice their grievances, asserting that a private investment firm had deceived them of their hard-earned money. The investors alleged that the company, which initially promised to double their investments within 15 days, failed to uphold its commitments.

A protestor revealed, “We were enticed to invest in the company with the assurance that our money would double within 15 days. Initially, they fulfilled their promises, but after a while, communication ceased, raising suspicions.”

In connection with the scam, the District Administration took swift action by sealing the office of Curative Survey Pvt Ltd in Karanagar, Srinagar. The Tehsildar, accompanied by Cyber Police officials, visited the office premises and enforced the closure.

Investors, influenced by a social media influencer who endorsed the firm on his YouTube channel, claimed they collectively invested around Rs 5 lakh. Attempts to contact the firm and its employees yielded no response, leading to the realization that they had fallen victim to fraud.

Employees directly involved in customer interactions disclosed that they, too, were duped, as they were unaware of the firm’s legitimacy. One employee stated, “We were instructed by administrators based in Chennai, sometimes in Srinagar, to encourage customers and investors to participate in various investment plans, promising a doubling of their money in 15 days.”

Initially, customers received doubled amounts in their bank accounts, and employees, trusting the legitimacy, invested their own salaries. However, both investors and employees eventually faced financial losses and unemployment.

A senior official from Cyber Police Kashmir assured, “We have received complaints against the firm and are actively investigating the matter. Those involved will be brought to justice.”