The Economic Offences Wing (EOW) of the Crime Branch, Jammu and Kashmir Police filed a chargesheet against four individuals in connection with an alleged ₹2.5 crore Kashmiri shawl fraud. The chargesheet has been submitted before the Sub-Judge (Small Causes), Srinagar, after a long investigation.
According to the EOW, FIR No. 55/2022 was registered under Sections 420 (cheating), 120-B (criminal conspiracy) and 201 (causing disappearance of evidence) of the erstwhile Ranbir Penal Code (RPC). The accused were identified as Firdous Ahmad Mir, Arshid Ahmad Shora alias Bilal, Firdous Ahmad Bhat and Aftab Ahmad Shah.
The four accused, according to investigators, had worked together to persuade the complainant to purchase Kashmiri shawls worth over ₹2.5 crore by making attractive profits and promising to pay up. But after getting the consignments, they failed to honour the payment commitments, causing huge financial losses to the complainant.
The Economic Offences Wing launched an investigation as soon as the complaint was received. It went through business records, financial transaction documents, witness statements and other documentary evidence from the investigation to establish the fraud. Based on that evidence, the agency decided that there was sufficient evidence to press chargesheet against the accused.
A major breakthrough during the investigation was the recovery of 338 Kashmiri shawls (market value of ₹68 lakh) from various locations. The recovered shawls were later returned to the complainant under court directions, giving only partial financial relief while the criminal proceedings continued.
The chargesheet details the alleged involvement of each accused, based on documentary evidence, witness testimony and other findings, the EOW said. Now the matter will go before the trial court, where the prosecution will prove its case. The court will then decide the guilt or innocence of the accused by considering all the evidence and hearing the evidence and arguments from both sides of the defendants' case.
Given the case, the Economic Offences Wing has issued an advisory to traders, particularly those involved in the Kashmiri handicrafts and shawl business, to be a little more cautious in high-value commercial transactions. They’ve suggested that prospective buyers verify the financial credibility and business background of their prospective buyers, carry out written contracts and payments through banking channels, and maintain proper documentation to prevent fraud.
The EOW also implored other traders or individuals who may have had similar fraudulent transactions to come forward and lodge complaints at once. Timely reports can help expedite investigations, enhance recovery of assets and strengthen the legal process against those who are responsible, the agency said.
The allegations will be examined by the judiciary and the final outcome of the case will be decided by the competent court after the trial.
Comments
Please to leave a comment on this article.