Srinagar, December 20: The Jammu and Kashmir Police conducted raids at five locations in Srinagar as part of an investigation into a multi-crore investment fraud, officials reported on Wednesday. The cyber wing of the Jammu and Kashmir Police seized electronic gadgets and documents during the raids on Saturday night.
In a scheme reminiscent of the Hindi film ‘Phir Hera Pheri,’ the fraudsters established a company named ‘Curative Survey’ in the Karan Nagar area, deceiving several individuals of at least Rs 59 crore by promising to double their investments within two weeks, according to officials. They noted that the amount could increase as the investigation is still ongoing.
Initially, the company fulfilled its promises, attracting more investors. The scheme gained popularity with the endorsement of at least two local YouTubers. However, after a while, the company owners disappeared, and investigators found the Karan Nagar office locked.
One of the YouTubers involved, Idris Mir, asserted that he should not be held accountable for the fraud, as he featured the company on his channel as a paid promotion. He emphasized that other influencers also promoted the company, and they conduct their own checks to ensure the legitimacy of the entities they endorse. Mir questioned the activities of the company, which operated for nearly a year with branches in Jammu, Srinagar, Patton, and Sangrama, asking, “What was happening during all this time?”
