2 days ago
High Court Denies Bail to Wife in Rs 7.8-Crore Fraud
A 71-year-old man says he was tricked into giving away about Rs 7.8 crore.
The main accused allegedly claimed to be a former Air Force member and a DRDO scientist.
He reportedly promised profitable investments involving antique binoculars and a rare radioactive substance.
The man allegedly sold an industrial plot and transferred his savings, but received no returns.
His family discovered the unusual transactions by checking his bank statements.
The main accused’s wife asked the court for protection from arrest.
Investigators said money had moved into her bank account and that they needed to question her.
The High Court refused her request because the investigation is still examining the money trail and everyone’s role.
The Punjab and Haryana High Court denied anticipatory bail to the wife of the main accused.
The main accused allegedly posed as a former Air Force member and DRDO scientist.
A 71-year-old man allegedly transferred about Rs 7.8 crore for purported investments.
The investments involved antique binoculars and a rare radioactive substance linked to rocket technology.
The court said custodial interrogation was needed to trace the money and investigate possible conspiracy.
- Who
- The wife of the main accused, the main accused, and a 71-year-old complainant are central to the case.
- What
- The Punjab and Haryana High Court denied the wife’s anticipatory bail plea in an alleged Rs 7.8-crore fraud case.
- Where
- The case was heard by the Punjab and Haryana High Court; the complainant allegedly sold an industrial plot in Panchkula.
- When
- The alleged inducements and transfers occurred between 2022 and 2026; the FIR was registered on June 21, and the order was issued on August 25.
- Why
- The court found a prima facie financial connection and said custodial interrogation was needed to trace the money, identify beneficiaries, and investigate the alleged conspiracy.
Accused’s Position
State and Court’s Position
Role in the alleged fraud
Accused’s Position
The wife argued that she had no role in the alleged cheating, lived separately from her husband because of matrimonial differences, and had never met or communicated with the complainant.
State and Court’s Position
The State said financial transactions between the husband and wife indicated a connection requiring investigation, while the court said her possible involvement could not be ruled out merely because she was not named in the FIR.
Need for arrest and questioning
Accused’s Position
The wife sought anticipatory bail and maintained that the allegations were primarily against her husband.
State and Court’s Position
The State argued that custodial interrogation was necessary to trace the money and uncover the alleged conspiracy. The court agreed that the investigation was at a crucial stage.
Interpretation of monetary transactions
Accused’s Position
The wife’s explanation for the transactions was presented as a matter supporting her lack of involvement.
State and Court’s Position
The court held that her explanation required investigation and that preliminary material showed a prima facie financial nexus with the alleged proceeds of crime.
Key facts
- Alleged fraud amount
- Approximately Rs 7.8 crore
- Complainant
- A 71-year-old man
- Main accused’s alleged identity
- A former Air Force member and DRDO scientist with claimed high-level contacts
- Purported investments
- Antique binoculars and a rare radioactive substance allegedly linked to advanced rocket technology
- Property sale
- The complainant allegedly sold an industrial plot in Panchkula for around Rs 7 crore
- FIR date
- June 21
- Court decision
- Anticipatory bail was denied on August 25
Quotes
Punjab and Haryana High Court
The court hearing the anticipatory bail petition, speaking through Justice Sumeet Goel
“Indubitably, serious allegations have been levelled against the petitioner from the material brought forth before this court.”
indianexpress.com
Sources
Related news
CBI arrests deported fugitive couple in investment fraud case
Vishakha Rathod Deported From UAE In Rs 88-Crore Fraud Case
Delhi court denies anticipatory bail in cyber fraud case
Bank Clerk Faces Trial After Assets Found 577% Disproportionate
Mumbai court rejects CA's discharge plea in Ponzi scam
Revanth Reddy Invites Rajnath Singh to Telangana Summit and Expo
India’s Post-Sindoor Defence Push Targets Networked Future Warfare
India's R&D Ecosystem Faces Hurdles On Path To Knowledge Economy
Pune To Host AWTIS 2026 Technology Innovation Summit
