Businessman held in cheating case in J-K

Srinagar, Nov 11 (PTI) The Economic Offences Wing (EOW) of the Crime Branch Kashmir has arrested a businessman here in connection with an over Rs 4 crore cheating case, officials said on Tuesday.

The EOW has arrested Mudasir Ahmad Wani, a resident of Badamwari, Hawal locality of the city here in connection with the case registered under Section 318(4) of the BNS, and subsequently transferred to the Crime Branch Kashmir for investigation, the officials said.

They said the case originated from a written complaint received at Police Station Karan Nagar, wherein the complainant stated that he was engaged in the purchase and sale of gold items through his firm M/S Bullion Vault.

The complainant alleged that the accused, who was operating gold outlets under the names M/S Gold Hub and M/S The Gold Hub near Magarmal Bagh crossing here, along with his partner Omar Khan, cheated him after receiving substantial advance payments for the supply of gold but failing to deliver the goods, the officials said.

They said the accused neither supplied the gold nor refunded the amount.

During the course of the investigation, documentary evidence corroborated the complainant's allegations and established that an amount of Rs 4.24 crore had been cheated by the accused, the officials said.

They said consequently, the EOW arrested the accused.

Further investigation is underway to uncover additional facts and identify any other persons involved in the offence, the officials added. PTI SSB DV DV