SRINAGAR, November 20, 2025 : In a significant breakthrough against organised financial crime, Srinagar Police have busted a valley-wide cheating and stolen-gold racket, arresting the prime accused — a notorious woman fraudster — along with two of her collaborators. The crackdown ends months of targeted cheating incidents reported by gold dealers across Kashmir.
According to police, Asmat Jan alias Taboo, wanted in multiple cases registered across Lal Bazar, Safakadal, Chadoora, Sopore, and Khrew (Awantipora), had been absconding for an extended period. She frequently shifted her base between West Bengal, Punjab, Maharashtra, and Jammu to evade arrest.
Acting on precise intelligence, five specialised teams of Police Station Lal Bazar, under the supervision of the SDPO and Zonal SP, tracked her movements and finally apprehended her from Hotel White House in Jalandhar, Punjab, after sustained surveillance.
Police said the Gold Association of Kashmir Valley had earlier raised strong concerns over her repeated involvement in cheating gold shopkeepers and pushing them into financial losses. In this regard, FIR No. 42/2025 stands registered at PS Lal Bazar under Sections 303(2) and 318(4) of the BNS.
Two Associates Arrested
During the investigation, police uncovered the direct involvement of a goldsmith and his associate, both of whom knowingly facilitated the illegal gold trade.
Those arrested include:
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Shameem Ahmad Sheikh, S/o Sonaullah Sheikh, R/o Iqbal Colony, Indra Nagar — a goldsmith operating at Bohri Kadal, accused of purchasing stolen gold at undervalued rates and helping conceal and circulate it.
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Basir Ahmad Dar, S/o Abdul Aziz Dar, R/o Nawakadal — arrested for transporting and surreptitiously disposing of stolen gold, thereby supporting the racket.
Police said all three accused have been taken into custody and more arrests and recoveries are expected as investigations continue.
