Main Rip-off Surfaces In Kashmir, Traders ‘Duped’ Of Crores By Personal Agency

• Case registered, matter being investigated: Police

Srinagar, Dec 19: A serious rip-off involving monetary fraud value Rs 59 crores has surfaced in Kashmir Valley after buyers alleged that they had been duped of their hard-earned cash by a personal firm primarily based within the Valley.
Some buyers immediately held a protest in Srinagar, alleging that they had been duped by a personal funding agency of their hard-earned cash.
“We had been lured to take a position cash within the firm stating that the cash you make investments will get doubled inside 15 days. This prompted us to take a position cash within the agency and within the first few months they acquired the cash as promised, nonetheless, after someday they didn’t get any response from the agency, which created doubt of their minds,” mentioned one of many protesters.
She mentioned that she alongside along with her different relations invested round Rs 5 lakh within the agency they usually had been motivated by a social media influencer after he had posted some movies on his YouTube channel, claiming the agency was genuine and he himself has invested his cash in the identical agency.
“Just a few days in the past we tried to contact the agency and its staff, however we have now not been getting any response. We have now now been duped of our hard-earned cash. This firm is a fraud because it cheated many individuals right here and duped them of crores,” she added.
In the meantime, native staff who had been working within the agency and had been instantly coping with the purchasers or buyers claimed that they’ve themselves been duped of their cash as they weren’t conscious of the agency’s credentials.
“We might be requested by directors of the agency, who’re primarily based in Chennai and would generally keep in Srinagar additionally, to ask prospects and buyers to take a position their cash primarily based on some plans and their cash could be doubled in 15 days,” mentioned one of many staff of the agency.
He mentioned that originally the doubled quantity was credited within the financial institution accounts of consumers or buyers they usually themselves (staff) additionally began to take a position their salaries within the agency, nonetheless, they’ve additionally been duped of the cash in addition to of their employment.
A prime Police officer mentioned {that a} case has been registered on the premise of complaints towards the personal agency, saying that the cognisance has been taken on this regard. “We’re investigating the matter and people concerned shall be shiny to justice,” he mentioned. (KNO)