Thousands of innocent investors across the Kashmir Valley have been duped of their hard-earned money, amounting to crores of rupees, by a Chennai-based fraud company that has established offices in various locations.
Interestingly, the promotion of the company, named "Curative Survey," was done by leading social media influencers in Kashmir, so a large number of people invested in the company, which is accused of siphoning off an estimated Rs 59 crore.
The fraudulent scheme has affected thousands, including men, women, and predominantly students, who invested their hard-earned money.
The company, with multiple offices across Kashmir, lured investors with the pledge of doubling their money within 10 to 15 days.
Case registered by Cyber Police
According to police, Cyber Police Kashmir received information that a company, operating under the name "Curative Survey Private Limited" and through a fraudulent website, has allegedly scammed and cheated individuals.
The victims were deceived by the fraudulent company, which enticed them to invest their money with false promises of substantial returns.
How the company cheats investors?
During the preliminary investigation, it was revealed that the said company exhorted the common public to register on its website and become partners 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 a person 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, FIR No. 39/2023, under the relevant sections of the IPC and IT Act in Cyber PS Kashmir Zone, Srinagar.
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 froze several identified accounts operated by the said company.
Searches conducted at multiple locations across Valley
Searches were conducted at multiple locations and registered offices of the company, and the same were sealed as well. During searches, incriminating materials, including electronic devices and documents, were seized.
The registered owners and promoters of this company are being identified and investigated. The role of local office staff and persons promoting the schemes on social media is also being investigated.
"The general public is once again advised to be cautious of online scams and urged to verify the credentials of online schemes before investing their hard-earned money. Citizens affected by this scam are requested to share relevant information, if any, with the investigation agency. The investigation of the said case is being done expeditiously", police said.
The company is registered with the government and has been filing GST returns consistently.
As per the company bio, the company is a "research and development unit for an upcoming body care and cosmetic organization." However, it does not present the names or faces of the people handling the matter.
