(MENAFN- Kashmir Observer) Srinagar ~ The Economic Offences Wing (EOW) of the Crime Branch Kashmir has arrested a Srinagar-based jeweller for allegedly cheating a businessman of ₹4.24 crore in a gold supply deal.

The accused, identified as Mudasir Ahmad Wani, son of Ghulam Ahmad Wani, a resident of Badamwari, Hawal, was arrested in connection with FIR No. 22/2024 registered under Section 318(4) of the Bharatiya Nyaya Sanhita (BNS) at Police Station Karan Nagar. The case was later transferred to the EOW for further investigation.

According to officials, the complaint was filed by a local trader associated with M/S Bullion Vault, who alleged that Wani, operating gold outlets under the names M/S Gold Hub and M/S The Gold Hub at Sallar Shopping Complex, Sarai Payeen, Srinagar, along with his partner Omar Khan, had received substantial advance payments for gold supplies but failed to deliver the goods or return the money.

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Investigators said documentary evidence confirmed that the accused had defrauded the complainant of ₹4.24 crore. Wani was subsequently taken into custody, and further investigation is underway to identify possible co-accused and trace the defrauded funds.

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