Srinagar: A businessman from Hyderabad was duped of ₹ 3 crore by a group of fraudsters after being lured with promises of supplying Kashmiri Blue Sapphire gemstones.
However, while promptly acting on his complaint, the Jammu and Kashmir police have recovered ₹ 62 lakh from the fraudsters and returned the amount to the victim.
A police spokesman said in Jammu that Mir Firasath Ali Khan’s dream of striking it big in the Kashmiri blue sapphires which are renowned for their exceptional quality, rich color, and rarity, making them highly valuable and sought-after gemstones, turned into a ₹ 3-crore nightmare as he fell prey to a meticulously crafted trading scam.
After realizing that he had been supplied with counterfeits in the name of original Kashmiri Blue Sapphires, Khan lodged a complaint with the J&K police, the spokesman said, adding that a case was registered at Jammu’s Bahu Fort Police Station and investigations taken up.
“A special investigation was launched under SDPO Bakshi Nagar Dr. Satish Bhardwaj, under the supervision of SSP Jammu Joginder Singh and SP South Ajay Sharma,” the spokesman said on Wednesday.
He said that a group of J&K residents had, after posing as sellers of rare gemstones, attempted to sell him fake Kashmir Blue Sapphires valued at ₹ 25 crore. The spokesman said, “The probe revealed a wider fraud network involving Mohammed Rayaz, son of Reham Ali, originally from Gurdan Bala, Rajouri, now residing in Chinore, Jammu and Mohammed Taj Khan, son of Haji Jumma Khan, resident of Potha Surankote, Poonch, currently based in Meenia Mohalla, Trikuta Nagar (Jammu).”
The police said that they recovered fake sapphire necklaces and other forged items during searches and also seized ₹ 62 lakh from Rayaz and his associates and returned the amount to the complainant after court approval.
The police further stated that the investigation also revealed that part of the defrauded amount was used to purchase property. The police have initiated proceedings to attach the property under Section 107 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023. This law deals with the attachment, forfeiture, or restoration of property that is believed to be the proceeds of crime. It empowers police officers to seek court orders for the attachment of such property during investigations, with the approval of the Superintendent of Police or Commissioner of Police.
The police spokesman said that the complainant thanked the police for their swift action and appreciated the role of the investigating team in recovering the amount.
