6 Chargesheeted For Rs 60 Lakh Funding Fraud In Jammu – Kashmir Observer

6 Chargesheeted For Rs 60 Lakh Funding Fraud In Jammu – Kashmir Observer

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Jammu- The crime department of Jammu and Kashmir Police on Thursday filed a chargesheet in a neighborhood court docket right here towards six individuals for duping traders of over Rs 60 lakh after inducing them to put money into a Haryana-based personal firm in 2017, an official stated.

The 1266-page chargesheet was filed by the financial offences wing of Crime Department, Jammu towards six associates of Swarn Bhavya Gold Pvt Ltd, together with its Managing Director Balwinder Kumar of Haryana, beneath numerous sections of the Indian Penal Code, a spokesperson of the company stated. A case on the matter was registered in 2020.

The official stated the accused hatched a legal conspiracy to induce the complainants and different folks to speculate their cash within the firm by promising to offer bonus revenue on their deposits after each 15 days and extra bonus revenue on making a community of depositors.

Others chargesheeted within the case are Sushil Kumar, Sandeep Kumar, Deepak Singh all residents of Haryana, Saphali Singh of New Delhi and Manveer Singh of Punjab, the spokesperson stated.

A written criticism lodged in Crime Department, Jammu by Mohd Younis of Pulwama, Asrar Ahmed of Srinagar, Ayaz Ahmed of Poonch and Mushtaq Dar of Rajouri has alleged that the accused got here to J&Ok in October 2017 and performed seminars at totally different resorts to get folks to speculate cash within the firm, the official stated.

Folks have been assured that the corporate is real and registered with the Reserve Financial institution of India, the spokesperson stated, including the corporate collected large quantities from native residents inside three months.

After police obtained the criticism, a preliminary verification was performed and allegations of dishonest and fraud have been prima facie substantiated, resulting in the registration of a proper case beneath related sections of regulation for in-depth probe, the official stated.

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