'Dr Morphine' with Chinese links behind Rs 209-cr online investment fraud: J&K Police

• J&K Police arrested 9 in a Rs 400 crore online investment scam
• Mastermind Dr. Ekant Yogdutt was caught at Delhi airport
• Fake investment sites scammed victims; funds moved through 835 accounts

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The Jammu & Kashmir Police have arrested a doctor from Haryana and eight others from Kashmir in connection with a massive online investment scam that allegedly involves transactions worth hundreds of crores of rupees.

According to the police, the case came to light after a complaint was filed in the district reporting identity theft and cheating by a group of online fraudsters. Following the complaint, a Special Investigation Team (SIT) was formed to probe the matter.

Senior Superintendent of Police (SSP) Ganderbal Khalil Poswal said that during the investigation, police identified 835 bank accounts linked to the scam.

So far, transactions in 290 of these accounts have been verified, showing that Rs 209 crore was received from investors across India. Officials believe that once the remaining accounts are fully examined, the total amount involved could cross Rs 400 crore.

Police identified the alleged mastermind as Ekant Yogdutt, also known as Dr Morphine, a resident of Hisar in Haryana. He was arrested on February 10 at Delhi’s international airport while returning from China.

Yogdutt had studied MBBS in the Philippines and allegedly learned cyber fraud techniques during that time. Officials also claimed he had links with Chinese nationals.

Police said the accused allegedly used fake online investment websites promoted on social media platforms and Google. One such website named paisavault.com was mentioned in the investigation. These websites reportedly lured people with promises of high returns through coin trading and other investment schemes.

Once victims deposited money, the funds were diverted into local bank accounts belonging to individuals from Budgam, Srinagar, Ganderbal, Baramulla and other districts.

Investigators said the money was quickly transferred from these local accounts to other bank accounts outside Jammu & Kashmir through multiple layers of transactions. In some cases, funds were even moved outside the country to make it difficult for authorities to trace the money trail.

Eight other accused from different parts of Kashmir were also arrested. Police said these individuals worked as “account mobilisers” and allegedly convinced below poverty line (BPL) account holders to hand over their bank accounts and ATM cards in exchange for Rs 8,000 to Rs 10,000 per month.

The investigation has also revealed the possible involvement of some bank employees who allegedly provided QR codes linked to these accounts. Police said the fraudsters created Telegram groups to share new QR codes whenever old accounts were frozen after complaints. Further investigation is ongoing.