The Economic Offences Wing (EOW) of the Crime Branch, Jammu and Kashmir Police, has filed a chargesheet against four accused in connection with an alleged ₹2.5 crore Kashmiri shawl fraud. According to the agency, the accused allegedly lured the complainant with promises of high profits, procured Kashmiri shawls worth more than ₹2.5 crore, and failed to make the agreed payments. With the investigation complete, the case is now before a competent court in Srinagar.
According to the EOW, the chargesheet has been filed in FIR No. 55/2022 under Sections 420 (cheating), 120-B (criminal conspiracy), and 201 (causing disappearance of evidence) of the erstwhile Ranbir Penal Code (RPC) before the Court of the Sub-Judge (Small Causes), Srinagar.
The accused have been identified as Firdous Ahmad Mir, Arshid Ahmad Shora alias Bilal, Firdous Ahmad Bhat, and Aftab Ahmad Shah. Investigators allege that the four acted in concert to persuade the complainant to supply Kashmiri shawls worth over ₹2.5 crore by offering the prospect of attractive profits. After receiving the consignments, they allegedly failed to honour the payment commitments, resulting in substantial financial losses for the complainant.
Following the complaint, the EOW launched a detailed investigation, collecting business records, financial transaction documents, witness statements, and other evidence. The agency stated that sufficient material was found during the investigation to support the filing of the chargesheet against the accused.
During the investigation, the EOW recovered 338 Kashmiri shawls with an estimated market value of ₹68 lakh from various locations. The recovered shawls were subsequently handed over to the complainant under court orders, providing partial relief. However, the agency said the investigation into the alleged fraud has been completed and the chargesheet has already been submitted.
According to the EOW, the chargesheet outlines the alleged roles of the accused based on documentary evidence, witness testimonies, and other materials gathered during the investigation. The prosecution will now present its evidence before the trial court, which will decide the matter after examining the evidence and hearing both sides.
The EOW has advised traders, particularly those involved in the handicrafts and Kashmiri shawl business, to exercise greater caution while entering into high-value commercial transactions. The agency recommended verifying the financial credibility, business background, and payment capacity of new business partners before concluding any deal. It also advised using written agreements, banking channels for payments, and appropriate safeguards to reduce the risk of such fraud.
The Economic Offences Wing further urged any other traders or individuals who may have been similarly defrauded to approach the EOW and lodge a complaint without delay. According to the agency, timely reporting can help expedite investigations, improve the chances of recovering money or property, and facilitate effective legal action against those responsible. The allegations remain subject to judicial scrutiny, and the final outcome of the case will be determined by the court after completion of the trial.
