Businessman Arrests In Srinagar in ₹4.24 Crore Cheating Case: CBK

Srinagar : The Economic Offences Wing (EOW) of Crime Branch Kashmir on Tuesdsy said that it has arrested Mudasir Ahmad Wani, son of Ghulam Ahmad Wani, a resident of Badamwari, Hawal, Srinagar, in connection with FIR No. 22/2024, registered under Section 318(4) of the Bharatiya Nyaya Sanhita (BNS) at Police Station Karan Nagar, and subsequently transferred to the Economic Offences Wing of Crime Branch Kashmir for investigation.

In a handout to the CBK said that the case originated from a written complaint received at Police Station Karan Nagar, wherein the complainant stated that he was engaged in the purchase and sale of gold items through his firm M/S Bullion Vault. He alleged that the accused, who was operating gold outlets under the names M/S Gold Hub and M/S The Gold Hub at Sallar Shopping Complex, Saria Payeen, near Magarmal Bagh Crossing, Srinagar, along with his partner Omar Khan, cheated him after receiving substantial advance payments for the supply of gold but failing to deliver the goods. The accused neither supplied the gold nor refunded the amount.

During the course of investigation, documentary evidence corroborated the complainant’s allegations and established that an amount of ₹4.24 crore had been cheated by the accused. Consequently, the Economic Offences Wing of Crime Branch Kashmir arrested the accused individual, Mudasir Ahmad Wani.

Further investigation is underway to uncover additional facts and identify any other persons involved in the offence, reads the statement.(GNS)