The Crime Branch of Jammu and Kashmir police has registeredan FIR against four residents of Haryana for duping people of Rs 1.5 crore onthe pretext of giving bonus income after every 15 days of investment of moneyin their company.
The fraud came to light after some local residents, hailingfrom different districts of the Union Territory, lodged a written complaintagainst the accused – Balwinder Kumar, Sushil Kumar, Deepak and Sandeep Kumar,a spokesman of the Crime Branch said on Saturday.
“A formal case has been registered and investigationstarted after preliminary inquiry established that the accused have hatched acriminal conspiracy to cheat and extort money from the complainants andothers,” he said.
They had swindled Rs 1.5 crore by unlawful and fraudulentmeans on the pretext of giving bonus income every 15 days of investment ofmoney in the company Messrs Swarn Bhav Gold Private Limited, the spokesmansaid.
In their complaint, the spokesman said Mohammad Younis ofPulwama, Asrar Ahmad of Srinagar, Ayaz Ahmad of Poonch and Mushtaq Ahmad Dar ofRajouri alleged that Swarn Bhav Gold Private Limited came to Jammu and Kashmirin October 2017 and launched a programme after conducting seminars at differenthotels.
The spokesman said the company falsely lured the public toinvest money and get bonus income after every 15 days and further told them tocreate a network to get more additional income. With such a modus operandi, thecompany collected Rs 2 crore from residents in the UT over the course of threemonths via cash as well as bank transactions.
“The complainants and others whoever invested the moneygot their bonus well in time at the initial stage, but thereafter their bonusesgot stopped. When the complainants and investors contacted the accused persons,they were told that some software problem has come up in the company’s gadgetsand they will get the money returned when that gets solved,” the spokesmansaid.
When the complainants approached the accused persons aftersome time, they were told that the company had suffered a huge loss, he said.
Later, when the complainants visited Balwinder Kumar’sresidence in Haryana’s Kaithal district, he gave them five cheques worth Rs 65lakh but the cheques were not entertained by the banks due to lack ofsufficient amount in the account of the accused, the spokesman said.He said the accused persons have cheated thecomplainants and others intentionally, deliberately and willfully with a priorcriminal intention not to return the money received by them.