Srinagar, Oct 27: Crime Branch Kashmir (Special Crime Wing) has filed a charge-sheet before the Hon’ble Court of Chief Judicial Magistrate, Srinagar, in connection with FIR No. 18/2022 registered at Police Station SCW, Kashmir, against accused Sunil Singh, S/o Arjun Singh, resident of Pratap Vihar, Ghaziabad, Uttar Pradesh, for alleged offences punishable under Section 420 of the Indian Penal Code (IPC) and Section 5 read with Section 23 of the Banning of Unregulated Deposit Schemes Act, 2019.
The case originated from a complaint lodged by Abid Hussain Joo and 11 other residents of Srinagar, who alleged that they had been induced by the accused to invest their hard-earned money in a purported Forex investment venture operating under the name and style of “Tronix Power & Capital Investment Programme, Delhi,” on the promise of substantial returns within a short period.
During the preliminary enquiry, it emerged that the accused had allegedly induced the complainants to invest their money through assurances of lucrative returns and subsequently cheated them, leading to the registration of the case.
Investigation revealed that an aggregate amount of Rs. 16,78,500 had been transferred by the complainants through banking channels into bank accounts linked to the accused. The Reserve Bank of India (RBI) also conveyed that the aforesaid investment programme was not registered with it. Upon completion of the investigation and on the basis of the evidence collected, the charge-sheet has been submitted before the competent court for judicial consideration and further proceedings in accordance with law.
Special Crime Wing Kashmir of Crime Branch J&K advised the public to exercise due diligence and verify the credentials and regulatory status of investment schemes with the competent authorities before investing their hard-earned money. It also urged the public to promptly report any suspected investment fraud to the concerned authorities.
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