Srinagar, August 24: The Economic Offences Wing (EOW) Kashmir of Crime Branch J&K has arrested a man who was allegedly wanted in connection with a ₹2 crore investment fraud case after evading arrest for nearly a year.

The accused has been identified as Junaid-Ul-Islam, son of Nazir Ahmad Baba, a resident of Alamdar Colony Phase 1, Charar-e-Sharief in Budgam. Officials said he was arrested from Mangammanapalya in Bengaluru.

According to the Crime Branch, the arrest was carried out in compliance with a warrant issued by the Court of 4th Additional Munsiff Judicial Magistrate, Srinagar. The accused was wanted in FIR No. 07/2025 registered at Police Station EOW Kashmir under Section 420 RPC.

The EOW said a preliminary enquiry had prima facie established allegations of cheating and financial fraud against the accused.

According to investigators, he allegedly collected around ₹2 crore from several people by portraying himself as an investor associated with an e-commerce company and promising monthly returns of 10 per cent.

The accused allegedly received the money through multiple bank accounts but later failed to fulfil the promised returns and stopped responding to the investors.

Investigators said the material gathered during the probe prima facie indicated that substantial amounts were allegedly obtained through false promises of high returns.

Further investigation into the case is underway.

The EOW Kashmir has meanwhile advised people to exercise caution before investing in schemes offering unusually high or guaranteed returns. It urged investors to verify the credentials of individuals and companies and report suspected financial fraud to the concerned authorities.