Chandigarh-based company looted hundreds of Kashmiris while giving a hope of doubling their amount

Kashmir Age Report

Srinagar, Oct 2:  A company called Gulf Coin Gold & Crypto Bulls Exchange has embezzled crores of rupees in the hope of doubling the amount of hundreds of people in a year and now the owners of this company are harassing the investors through various ways.

Meanwhile, the people who lost their money have alleged that the officials of the company have swayed some of the management officials in their favour and the people who are doing this work are now being threatened in various ways. 

A delegation of Mata Tharin, who visited the service’s office in Kashmir, said that in February 2017, Jatinder Kumar, the CEO of the company, said that Farooq Ahmed Chopan, son of Muhammad Ramzan Chopan, a resident of Salusa, of Balandshahr area of Uttar Pradesh, who used to call himself the development director of the company, started his career in the valley. 
A delegation of people who were looted, visited the Kashmir Press Service office in Srinagar and said that in February 2017, Jatinder Kumar, the CEO of the company,  who lives in a high-rise area of Uttar Pradesh, along with a local local colleague, Farooq. Ahmed Chopan, son of Muhammad Ramzan Chopan, a resident of Sakusa Baramulla who called himself the development director of the company, started the career in the valley, during which he told the people that if they invest, their money will be doubled in a year.
The so called Development Director of the company also handed over the cheques to the people, after which hundreds of people from the valley, especially North and Central Kashmir, invested in the company. They set up a bank account under the name of Farooq Ahmed Chopan, Development Director. They deposited funds to Chisti Enterprises under 0309010100001341

The members of the delegation said that since the amounts were to be doubled in the year 2018, they approached the banks after the stipulated period and tried to cash the cheques given by Farooq Chopan. However, due to non-availability of funds in the bank account of the person, these checks bounced and they did not receive their money. 
They said that after the cheque bounced, when people inquired about the amount, the employees of the company told the people that they were affected by the downturn in the international market and they asked the people to come next year. 
They also informed them that the amount will be doubled again next year. 
It was said that people fell in love with these two people and they agreed to keep the money with the company for one more year, but the sky fell on them when in the year 2018, these two people left Kashmir for Dubai. They fled and embezzled crores of rupees from the people. 
In the meantime, although some people also approached the court, they have not yet received their money back due to delay from the court. 
The delegation said that they spent two years in Dubai. After passing, the alleged thugs named Jatinder Gautam and Farooq Ahmed Chopan once again came to the valley and told the loggers in their company that they had gone to Assero Sapphire money.com. They told the people that they would now be given a Blue Sapphire Token which is a kind of digital tax. 
However, in spite of this, they have asked people to pay a fee of Rs. 7,000. The people in the delegation said that so far crores of rupees have been bounced by the company to the investors and no one has received a single penny as a result of which they are worried. “We want to warn the people of the valley that they made the statement during a press conference in Dubai that they had gathered in Dubai through crowd funding,” they said. 
The 100 million investments will be made and it is clear that they have come to the valley once again on the same mission. It is alleged that these two persons named Farooq Ahmed Chopan and Jatinder Gautam did it here. 
They have also sided with some local administration officials, threatening government landlords who are investing in his company, if they file a complaint against him in court. 
The Crime Branch and the anti-corruption bureau will file a complaint against them and investigate where they got the money from, although the victims say that some people have taken loans from banks, some have not. 
Some people were called to the police station and asked to remain silent. The members of the delegation have appealed to the common people not to fall into the trap of these people and protect their privacy from being looted. 
They have also appealed to the local administration to take legal action against them.  “Follow the instructions so that the naive people here can be saved from being robbed.”