In one of the largest cyber fraud crackdowns in Jammu and Kashmir, police have uncovered a massive transnational online investment scam worth over ₹209 crore, with a Haryana-based MBBS doctor identified as the alleged mastermind. So far, nine accused have been arrested, while investigators warn the total fraud amount could cross ₹400 crore as verification continues.
The case came to light after a complaint was lodged at Police Station Ganderbal by a resident of Safapora, leading to registration of FIR No. 08/2026 under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the IT Act for identity theft and online cheating.
Taking swift action, Khalil Ahmad Poswal, Senior Superintendent of Police (SSP) Ganderbal, constituted a Special Investigation Team (SIT) comprising cyber experts to probe the sophisticated fraud network.
Fake Trading Platforms, Phishing Traps & a Pan-India Money Trail
During the investigation, police unearthed several fake online investment websites, including paisavault.com, which lured victims through social media ads and search engines by promising quick profits from coin trading.
Once investors deposited money, the funds were routed into local bank accounts across Budgam, Srinagar, Ganderbal, Baramulla, and nearby districts. From there, fraudsters rapidly transferred the money through multiple layers — including international transactions — to erase digital footprints.
Authorities have so far traced 835 bank accounts, verified 290 of them, and confirmed deposits totaling ₹209 crore from victims across India.
‘Dr. Morphine’: From MBBS Student to Cyber Crime Kingpin
Police identified the alleged kingpin as Ekant Yogdutt, also known as “Dr. Morphine,” a resident of Hisar, Haryana. Investigators say he learned cyber fraud techniques during his MBBS studies in the Philippines and maintained links with Chinese nationals.
He allegedly worked with local operatives in Kashmir who acted as regional heads and account mobilizers. The gang targeted BPL account holders, offering ₹8,000–₹10,000 per month in exchange for bank accounts and ATM cards.
Shockingly, investigators also found the involvement of certain bank employees, who allegedly supplied QR codes linked to these accounts. These codes were uploaded on fake investment platforms and circulated through Telegram groups, allowing the scam to continue even after earlier accounts were frozen.
Whenever cyber units blocked transactions, the accused simply activated new accounts and fresh QR codes, keeping the fraud operation alive.
Arrest at Delhi Airport, More Properties Likely to Be Attached
The main accused, Ekant Yogdutt, was arrested by Ganderbal Police at Delhi International Airport upon his return from China. Eight other suspects from different parts of Kashmir have also been taken into custody.
Police are now working to trace the complete money trail and initiate attachment of properties belonging to the accused.
Police have urged citizens to stay away from investment websites promising unrealistic returns and warned against renting out bank accounts for quick money.
Victims of cyber fraud can report incidents via India’s official cybercrime portal or by calling the national helpline 1039.
