Srinagar, March 26 -- After surfacing of the alleged scam, police had filed a case (FIR No 39/2023 U/S 66D IT Act & 420 IPC) and subsequently arrested one of the accused- Vinoth John Kennedy (27), a Bachelor in Engineering (Computer Science) and a Software developer- from Tamil Nadu and shifted him to judicial custody at District Jail Srinagar on 9 January this year.

In its objections, the prosecution had said the accused is the important part of the "crime syndicate", and along with other absconding associates against whom investigation is going on and are yet to be arrested, floated a boqus and sham company and induced the general public to invest in the company so that the public may earn profits and dividends. The public had believed...