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Financial fraud case in Poonch: Crime branch recovers Rs 35.50 lakh


Press Trust of India Jammu
Days after filing a chargesheet against six persons arrested in connection with huge financial fraud, Crime Branch of Jammu and Kashmir Police on Tuesday recovered Rs 35.50 lakhs which was swindled by the accused from the gullible people in Poonch district, officials said.
With this recovery, a total of Rs 56.50 lakh have been recovered so far as further investigation is in progress, a Crime Branch spokesman said.
Terming the latest recovery as a "major breakthrough", he said the amount was recovered after a sequence of action and intelligence development by the Special Investigation Team (SIT) which resulted in grilling the accused and suspects to effect the recovery.
"The amount was paid by the accused Tariq Mehmood to Javaid Iqbal of Dharana Tehsil of Mendhar for further investment," the spokesman said.
On July 20, the Crime Branch filed a preliminary chargesheet against Mehmood, his wife Shazia Kousar, Zaffar Iqbal, Zaheer Abbas, Imtiaz Ahmad and Murtaza Ahmad -- all residents of Mendhar (Poonch) -- who were arrested in connection with the case.
The case pertains to huge financial fraud committed by a non-banking financial company in the name and style of 'Hables-e-Commerce Private Limited' run by the six accused persons who swindled the hard-earned money from gullible people in the twin districts of Poonch and Rajouri after inducement on the pretext of providing them different products with huge interest.
However, the accused persons went underground after collecting the money, he said, adding the case was initially registered at police station Mendhar and subsequently transferred to the Crime Branch on May 20 considering the public importance and the amount of money involved, the spokesman said.
Later, a SIT was constituted to have in depth investigation of the case.
Besides, he said, eight shops worth Rs 1 crore were attached and four sports utility vehicles were also seized, while the bank accounts of the accused persons were frozen.

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First Published: Jul 30 2019 | 8:45 PM IST

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