Srinagar: The Economic Offences Wing (EOW) of the Crime Branch Kashmir has arrested a businessman in connection with a cheating case involving over ₹4 crore, officials said on Tuesday.
The accused, identified as Mudasir Ahmad Wani, a resident of Badamwari, Hawal in Srinagar, was arrested in a case registered under Section 318(4) of the BNS, which was later transferred to the Crime Branch Kashmir for investigation, officials said.
The case originated from a written complaint filed at Police Station Karan Nagar, where the complainant stated that he was involved in the trade of gold items through his firm M/S Bullion Vault.
According to the complaint, Wani, who operated gold outlets under the names M/S Gold Hub and M/S The Gold Hub near Magarmal Bagh crossing, along with his partner Omar Khan, allegedly accepted substantial advance payments for supplying gold but failed to deliver the goods or refund the amount.
Officials said that during the investigation, documentary evidence supported the allegations, confirming that the accused had cheated the complainant of ₹4.24 crore.
Following this, the EOW arrested Wani, and further investigation is underway to trace additional facts and identify any other individuals involved in the offence, officials added.
