Srinagar, Nov 11: The Economic Offences Wing of Crime Branch Kashmir has arrested businessman Mudasir Ahmad Wani of Hawal in a case involving alleged fraud of over ₹4.24 crore linked to gold supply transactions.
In a statement, The Economic Offences Wing (EOW) of Crime Branch Kashmir has arrested Mudasir Ahmad Wani, son of Ghulam Ahmad Wani, a resident of Badamwari, Hawal, Srinagar, in connection with FIR No. 22/2024, registered under Section 318(4) of the Bharatiya Nyaya Sanhita (BNS) at Police Station Karan Nagar, and subsequently transferred to the Economic Offences Wing of Crime Branch Kashmir for investigation, it reads.
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, it reads.
He alleged that the accused, who was operating gold outlets under the names M/S Gold Hub and M/S The Gold Hub at Sallar Shopping Complex, Saria Payeen, near Magarmal Bagh Crossing, Srinagar, 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 accused neither supplied the gold nor refunded the amount, it reads.
During the course of investigation, documentary evidence corroborated the complainant’s allegations and established that an amount of ₹4.24 crore had been cheated by the accused. Consequently, the Economic Offences Wing of Crime Branch Kashmir arrested the accused individual, Mudasir Ahmad Wani, it reads.
Further investigation is underway to uncover additional facts and identify any other persons involved in the offence, reads the statement.
