Jammu: The Jammu and Kashmir Police have recovered over ₹2.27 crore after uncovering a multi-state cyber fraud racket and identifying 13 suspects, an official said on Saturday.
The case originated from a complaint filed on November 10 at Nagrota police station by Khalid Hassan of Dalpatian Mohalla. Hassan reported that he had taken a ₹54 lakh loan in April after receiving an urgent request from his brother, Sajid Hassan. On November 10, however, he learned that more than ₹2 crore — including the loan amount — which his brother had invested through the ICICI Securities app, had been fraudulently withdrawn.
Following police advice, the victim filed a cyber fraud report through the National Cyber Crime Helpline (1930) and the NCCRP portal, alleging fraudulent trading activities amounting to ₹2,27,45,264.
An analysis of bank statements revealed that the siphoned amount had been routed through multiple accounts operated by the suspects. Swift action by police led to the freezing of several such accounts, and, with court approval, the recovered funds were returned to the victim.
Further scrutiny of CAFs, KYC documents, and transaction trails showed that the accused had conspired to lure victims into investing with false promises of high returns. Police have so far identified 13 suspects, and multiple teams have been deployed to track and arrest them across different states.
