India’s Enforcement Directorate (ED) has cracked down on a massive cyber fraud scheme in Jammu and Kashmir, seizing properties and electronic devices during raids in the Kangan area of Ganderbal district. Officials shared details on Monday about the operation, which targets money laundering linked to the scam.
The ED’s Srinagar Zonal Office carried out searches on September 24, 2025, under the Prevention of Money Laundering Act (PMLA). The probe centers on Shahnawaz Ahmed Shah, a probationary officer at Jammu and Kashmir Bank in Kangan, along with his associates.
It all started with a complaint from Firdous Ahmad Dar. He accused Shah and another man, Amir Bashir, of tricking him into investing in an online trading scheme called @RSN. They promised huge returns, but it was a trap. Dar handed over his personal and banking details, which Shah used for shady transactions. Shah even convinced Dar to transfer Rs 5 lakh to his father Ghulam Nabi Shah’s account, with vows of quick profits that never came.
Investigators uncovered more players in the fraud: Shah’s sister, Rumaisa, and her fiancé, Dr. Aamir. The group allegedly lured locals with guarantees of easy money through cyber fraud, raking in crores of rupees. ED’s review of their bank accounts showed a whopping Rs 53 crore in credits, but almost nothing left—just empty shells after the funds vanished.
To track the illicit proceeds, ED teams hit several locations in Kangan. They grabbed documents on USDT trading accounts tied to Binance, plus immovable and movable properties. They also seized electronic devices believed to fuel the scam. The investigation continues, with more raids possible.
Meanwhile, Jammu and Kashmir’s State Investigation Agency (SIA) in the crime branch has filed its own FIR for this high-profile cybercrime case and joined in searches across Kangan. Authorities aim to dismantle the network and recover laundered money from such online trading frauds.
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