Complaints so far: Locals invested ₹14 crore in ponzi scheme, say Kashmir police

On Wednesday, police had registered an FIR and raided multiple places and offices of the company for allegedly duping hundreds of people of their money by promising huge returns within months

As the Kashmir police’s cyber crime cell asked victims whose money had been fraudulently taken by Curative Survey Private Limited for information, numerous locals have filed complaints with the investments totalling over ₹14 crore.

Local social media influencers and employees who promoted the company have been questioned by the police (iStock)

On Wednesday, police had registered an FIR and raided multiple places and offices of the company for allegedly duping hundreds of people of their money by promising huge returns within months. The purported directors and promoters of the company are absconding.

“We hope more people will come forward with their complaints about this company. So far, complaints about ₹14 has reached to us. This can go further up,” said a senior police officer privy to the investigation.

“We have already freezed the accounts of this fraud company but they have kept minimal amount in those accounts. The money taken from the local people have been withdrawn by the owners or promoters of the company. The scam was going from past nine months,” he added and said that all the details were being thoroughly probed.

On Thursday, Cyber police Kashmir took to micro-blogging platform X, formerly Twitter, and urged people to come forward with information. .

Local social media influencers and employees who promoted the company have been questioned by the police.

Police said that the victims, mostly students and home makers, were deceived by the fraudulent company, enticing them to invest their hard-earned money with false promises of substantial returns. The police were silent on the scale of fraud but the affected people said it would be in the tens of crores.

The company, allegedly registered in Chennai with multiple offices in J&K, asked people to deposit ₹5,000 for subscribing on the website, complete the surveys and were promised to get ₹3,000 per month( ₹1,500 every 15 days) for a period of fifteen months. The people said they were paid initially but the money then stopped.