Chennai-Based Firm Scams J&K Residents Of Rs 59 Crores By Promising To Double Their Investment In 15 Days

Representative Image: Jammu Police

A Chennai-based company, having its offices in different districts of Jammu and Kashmir, allegedly duped hundreds of local people of their hard-earned money, amounting to crores of rupees. The company named 'Curative Survey' used social media influencers to gain the trust of the people and lure them into investing. The company allegedly siphoned off around Rs 59 crores.

The divisional commissioner Kashmir V K Bidhuri said that Cyber Police Kashmir has registered the case in this regard and raided multiple locations today and soon the culprits will be arrested. Police have sealed many properties in connection with the online money scam including offices of the fraud company. 

The victims who lost their money said that the company was operating under the name of "Curative Survey Private Limited" and through a fraudulent website. The victims were deceived by the fraudulent company, enticing them to invest their hard-earned money with false promises of substantial returns.

Police officials said that during the preliminary investigation, it was revealed that the said company exhorted the common public to register on its website and become a partner in surveys it was undertaking. The registered individuals were promised payment for undertaking those surveys.

In the last few days, the said company allegedly stopped the due payment to persons registered with it, and its promoters and directors absconded and were not reachable by their staff and registered individuals.

Taking cognizance of the matter, Cyber Police Kashmir registered a case under the relevant sections of the IPC and IT Act in Cyber PS Kashmir Zone, Srinagar, officials said.

Investigations and details from some victims indicate that the company had allegedly promised payments to people who were registering on their website and carrying out daily survey activities. The lure of easy money within a short period attracted unsuspecting individuals to subscribe to this allegedly fake and fraudulent scheme. In the initial stages of the investigation, Cyber Police Kashmir has frozen several identified accounts operated by the said company.

Searches were also conducted at multiple locations and registered offices of the company and the same stands sealed as well. During searches, incriminating materials including electronic devices and documents were seized. The registered owner promoters of this company are being identified. The role of local office staff and persons promoting the schemes on social media is also being investigated, officials said.