Daijiworld Media Network - Srinagar
Srinagar, Feb 16: Srinagar police have cracked a major transnational online investment fraud in Ganderbal district, involving over ?209 crore, by arresting an MBBS doctor from Hisar, Haryana, along with eight others from different parts of Kashmir. The case came to light following a complaint by Firdous Ahmad Mir of Safapora, leading to FIR No. 08/2026 under multiple sections of the Bharatiya Nyaya Sanhita and the IT Act.
A Special Investigation Team (SIT) formed by SSP Ganderbal Khalil Ahmad Poswal discovered that the scamsters ran fake online trading platforms, promoted through social media and Google ads, including websites like paisavault.com. Victims were lured with promises of high returns on bogus coin-trading schemes. Once invested, the money was funneled through local bank accounts in Budgam, Srinagar, Ganderbal, Baramulla, and other areas before being rapidly transferred across multiple layers to accounts outside Jammu & Kashmir and even abroad.
The mastermind of the operation was identified as Ekant Yogdutt, alias Dr Morphine, from Hisar. Yogdutt, who learned cyber fraud techniques while studying MBBS in the Philippines, maintained connections with Chinese nationals. Local operatives — including Mohd Ibrahim Shah alias Yawer (Ganderbal), Nasir Ahmad Ganie (Ganderbal), Maqsood Ahmad alias Dr Albert (Budgam), Tanveer Ahmad alias Dr Martin (Budgam), Tawseef Ahmad Mir (Baramulla), Khurshid Ahmad (Nunner), and Ishfaq Ahmad (Safapora) — acted as regional heads and account mobilisers. These operatives targeted below-poverty-line (BPL) account holders, persuading them to hand over bank accounts and ATM cards in exchange for Rs 8,000–10,000 per month.
Investigators also found that some bank employees allegedly provided QR codes of accounts, which were uploaded to the fake investment platforms. The fraudsters maintained Telegram channels to circulate new QR codes whenever accounts were frozen, allowing the scam to continue. So far, police have identified 835 bank accounts and verified 290 accounts, confirming inflows of ?209 crore from investors across India, with the total amount likely to exceed ?400 crore after complete verification.
Ekant Yogdutt was arrested at Indira Gandhi International Airport while returning from China, and the remaining eight accused were apprehended across Kashmir. Authorities are continuing investigations to trace the full money trail and seize properties linked to the suspects.
Police have warned the public against fake investment schemes promising high returns and cautioned against renting out bank accounts for money.