No bail to person alleged of fraudulently inducing people to invest in Crypto Currency Chit Fund

Umesh Verma Vs State (Delhi High Court)

Conclusion: Grant of bail was refused as applicant did not return the amounts due to the complainants and there was a breach of trust and faith and was against the national economy and national interest, whereby a large number of innocent investors had been duped of their hard-earned money.

Held: The allegations levelled against assessee as per the status report were to the effect that assessee along with the co-accused Bharat Verma and other as

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