Srinagar, Feb 1 (UNI) Jammu and Kashmir police's Crime Branch (CB) has filed a challan in a local court against eight person who duped people of lakhs of rupees through a bogus non banking financial company.
The challan filed in the court of Chief Judicial Magistrate, Srinagar, said the accused were running the company and grabbed lakhs of rupees from people fraudulently.
A CB spokesman said kingpin Mohammad Sharief Mir, a resident of Kulgam in south Kashmir, and seven others motivated innocent people to deposit their money in their finance company for better returns.
The challan added that the accused used different methods to lure the people to invest in the company for better interest rates.
People deposited lakhs of rupees in the company, it said adding the company refused to pay the amount on maturity date.
However, the company was closed, the depositors approached CB, the spokesman said adding during the investigation it was found that the accused had committed a fraud and cheated innocent people.
The other accused have been identified as Mohammad Abbas Mir, Muktiar Ahmad Mir, Ghulam Mohammad Dar, Farooq Ahmad Parray, Zaffer Ahmad Rather, Mohammad Yaseen Mir and Ghulam Hassan Wani.
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