Crime Branch Exposes ₹55 Lakh Property Fraud in Srinagar; Chargesheet Filed

“Upon receipt of the complaint, the Economic Offences Wing initiated a detailed probe. During the course of investigation, it was prima facie established that the accused had cheated the complainant of Rs. 55.11 lakhs under the pretext of selling a residential house. Despite receiving the payment, the accused sold the same property to another individual,” the spokesperson said.

Further investigation revealed that the said property had already been mortgaged with J&K Bank, Branch Office Bhagat, Srinagar. Notably, the complainant had also liquidated the outstanding housing loan associated with the property, he said.

The spokesperson further said that the investigation concluded that the actions of the accused constitute a cognizable offence under Section 420 IPC. Accordingly, the chargesheet has been filed before the competent court for judicial determination.