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80,000 victims, Rs 2,000 crore trail: Himachal Pradesh High Court denies bail to accused in massive crypto-MLM fraud

The Indian Express·Jagriti Rai·29 days ago
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The case originated from complaints involving various platforms that lured the public by promising to double investments through virtual currencies and fake websites. (AI-generated image) Himachal Pradesh High Court news: The Himachal Pradesh High Court has dismissed the bail plea of a man allegedly involved in a massive cryptocurrency-based Multi-Level Marketing ( MLM ) scam, asserting that economic offences are grave and affect the nation as a whole. Justice Sushil Kukreja was dealing with a plea of a man involved in a fraudulent scheme that allegedly defrauded over 80,000 investors of an estimated investment of Rs 2,000 crore. Justice Sushil Kukreja found that the petitioner handled cryptocurrency-based transactions without providing any satisfactory explanation regarding the utilisation of the funds.…

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