Cyber fraud case: ED seizes properties after raids in J&K's Ganderbal district

Srinagar, Sep 29 (IANS) The Enforcement Directorate (ED) seized properties and electronic devices after raids at various places in the Kangan area of J&K’s Ganderbal district in connection with a multi-crore cyber fraud, an official said on Monday.

“Directorate of Enforcement (ED), Srinagar Zonal Office has conducted search operations at various places in Kangan, District: Ganderbal, Jammu & Kashmir, under the Prevention of Money Laundering Act (PMLA), 2002,” the ED said in a statement on Monday.

These search operations were carried out on September 24, 2025, in case of cyber fraud by one bank employee of Jammu and Kashmir Bank Ltd, named Shahnawaz Ahmed Shah and others.

“ED initiated investigation on the basis of FIR registered by J&K Police for commission of offence under section 318(4) of BNS (pari materia of 420 of IPC, 1860) on the basis of complaint filed by one Firdous Ahmad Dar, who alleged that Shahnawaz Ahmad Shah, a Probationary Officer at J&K Bank, Kangan and Amir Bashir deceived him into investing in a financial scheme promising high returns through online trading @RSN,” the agency added.

“Dar shared his personal and banking information with Shah, who then used his account for suspicious transactions. Shah allegedly induced Dar to transfer Rs 5 Lakh to his father Ghulam Nabi Shah's account, promising immediate returns, but failed to deliver,” the ED stated.

It was also revealed that in this cheating activity, Shah's sister, Rumaisa, and her fiance, Dr Aamir, were involved in luring locals with promises of guaranteed returns.

“They were alleged to have made crores of rupees out of this illegal activity. Subsequent to the recording of ECIR, ED conducted scrutiny of bank accounts of the above-named persons, which revealed total credit of Rs 53 crore, however, no substantial balance was left behind in those accounts,” the agency said.

“Therefore, for tracing the Proceeds of Crime, ED conducted searches and recovered information and documents regarding some USDT trading accounts with Binance, immovable and movable properties and also seized the electronic devices, which are suspected to be utilised in carrying out the fraud,” the statement said, adding that further investigation is going on.

It must be mentioned that the state investigation agency (SIA) of J&K crime branch has also registered an FIR in this high-profile cybercrime and conducted searches at various places in the Kangan area.

--IANS

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