Jammu and Kashmir Police have dismantled one of the largest transnational online investment scams in Ganderbal, seizing 250 accounts linked to ₹209 crore in verified transactions over the past 45 days. Investigators estimate that the total transaction volume may exceed ₹400 crore as the probe continues.
The alleged mastermind, identified as Dr. Morphine, was arrested while returning from China. SSP Ganderbal, Khalil Phoswal, stated:
“The alleged kingpin is Ekant Yogdutt alias Dr. Morphine, an MBBS doctor from Hisar, Haryana. He completed his MBBS in the Philippines and later developed links with foreign operators, including Chinese nationals. Yogdutt was arrested at the Indira Gandhi International Airport, Delhi, upon his return from China.”
Eight other individuals from across Kashmir, including Budgam, Srinagar, and Baramulla, were arrested for acting as regional operators and account mobilizers. These agents operated under fake identities, executing the directives of the scam’s mastermind.
The syndicate created fraudulent trading websites such as paisavault.com and promoted them via Telegram channels, social media platforms, and Google advertisements. They primarily targeted Below Poverty Line (BPL) individuals, offering ₹8,000 to ₹10,000 while taking control of their bank accounts and ATM cards.
Preliminary investigations indicate that some bank employees assisted by providing QR codes linked to mule accounts, enabling seamless fund collection. Once deposited, the funds were quickly routed through multiple accounts across India and abroad to evade detection.
Police have so far identified 835 bank accounts linked to the scam. Of these, 290 accounts have been fully verified, revealing ₹209 crore in transactions.
A Special Investigation Team (SIT) led by SSP Khalil Phoswal is actively tracing the money trail and has initiated the process to attach properties of the accused. The Income Tax Department and Enforcement Directorate will also issue notices to individuals whose accounts reflected large-scale transactions.
