GANDERBAL, February 16, 2026:
In a major breakthrough against cybercrime, Jammu and Kashmir Police in Ganderbal have unearthed a massive ₹209 crore transnational online investment scam and arrested nine accused persons, including an MBBS doctor from Haryana.
The case was registered following a complaint lodged by Firdous Ahmad Mir, son of Mohd Yousuf Mir, a resident of Safapora, Ganderbal. Based on the complaint, FIR No. 08/2026 under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and Section 66-C of the IT Act was registered at Police Station Ganderbal to investigate allegations of identity theft and cheating by an organized gang of online fraudsters.
Senior Superintendent of Police (SSP) Ganderbal, Shri Khalil Ahmad Poswal (JKPS), constituted a Special Investigation Team (SIT) along with subject matter experts to probe the case thoroughly.
Modus Operandi
Police investigations revealed that the fraudsters operated fake online investment and trading platforms promoted through social media and Google advertisements, including websites such as paisavault.com. Victims were lured with promises of heavy returns through fake coin trading schemes.
Once investors deposited money into the fake platforms, the funds were diverted into multiple local bank accounts belonging to individuals from Budgam, Srinagar, Ganderbal, Baramulla and other districts. These accounts were allegedly controlled by the fraud network. The money was then layered and transferred to accounts outside Jammu and Kashmir and even outside the country to conceal the trail.
The fraudsters reportedly created Telegram channels and groups where they regularly uploaded new QR codes linked to bank accounts. Whenever accounts were frozen by cybercrime units across the country following complaints, new QR codes were promptly uploaded to continue the fraudulent activities.
Mastermind and Network
The alleged mastermind of the racket has been identified as Ekant Yogdutt alias Dr. Morphine, a resident of Hisar, Haryana. According to police, he learned these fraudulent techniques while pursuing his MBBS degree in the Philippines and allegedly maintained links with foreign nationals.
He allegedly conspired with local associates from the Kashmir region who acted as regional heads and account mobilizers. These individuals reportedly approached Below Poverty Line (BPL) account holders and persuaded them to provide their bank accounts and ATM cards in exchange for ₹8,000 to ₹10,000 per month.
Investigations have also revealed the suspected involvement of certain bank employees who allegedly facilitated the generation of QR codes for accounts used in the scam.
Scale of the Fraud
So far, police have collected details of 835 bank accounts and verified transactions of 290 accounts. Investigations have confirmed that ₹209 crore has been received from investors across India. Authorities believe that after complete verification, the total fraud amount may exceed ₹400 crore.
The main accused was arrested by Ganderbal Police at Indira Gandhi International Airport, Delhi, while returning from China. Eight other accused persons were arrested from various parts of the Kashmir region.
Further investigation is underway to trace the entire money trail and initiate the process of attaching properties of the accused persons.
Public Advisory
Jammu and Kashmir Police have strongly advised the general public not to fall prey to fake investment websites promising unusually high returns. Citizens have also been warned not to rent out their bank accounts in exchange for monetary consideration.
Victims of cyber fraud can lodge their complaints on the official portal cybercrime.gov.in or contact the toll-free helpline number 1039.
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