Ganderbal, Feb 16: Jammu and Kashmir Police in Ganderbal on Monday claimed to have unearthed a massive transnational online investment scam involving transactions worth Rs 209 crore and arrested an MBBS doctor from Haryana along with eight others from different parts of Kashmir.
Police said the case was registered at Police Station Ganderbal under FIR No. 08/2026 following a complaint by Firdous Ahmad Mir of Safapora, who alleged identity theft and cheating through fake online trading platforms. A Special Investigation Team was constituted by SSP Ganderbal Khalil Ahmad Poswal to probe the case.
Investigations revealed that fraudulent websites operating on social media and search engines lured investors with promises of high returns through fake coin trading platforms. Victims were persuaded to invest money, which was then routed into local bank accounts of individuals from Budgam, Srinagar, Ganderbal, Baramulla and other districts. The funds were allegedly layered through multiple accounts and transferred outside Jammu and Kashmir, and in some cases outside the country, to evade detection.
Police identified the alleged main handler as Ekant Yogdutt, also known as Dr. Morphine, a resident of Hisar, Haryana. He was arrested at the Delhi International Airport while returning from China. According to investigators, he developed links with foreign nationals during his studies abroad and coordinated the wider network.
Eight others from Kashmir were arrested for allegedly acting as regional heads and account mobilisers. Police said the accused targeted below poverty line account holders, offering them Rs 8,000 to Rs 10,000 per month in exchange for access to their bank accounts and ATM cards. The involvement of certain bank employees in facilitating QR codes linked to fake platforms has also surfaced during the probe.
So far, details of 835 bank accounts have been collected, with transactions in 290 accounts verified. Police said Rs 209 crore has been traced, and the figure may exceed Rs 400 crore upon full verification.
Further investigation is underway to trace the money trail and attach properties of the accused. Police have urged the public not to fall prey to online platforms promising unrealistic returns and to report cyber fraud through the national cybercrime portal or helpline. [KNT]
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