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Maha: Court in Pune grants bail to man accused of cheating investors of more than Rs 30 crore

Pune, Mar 31 (UNI) The Sessions court here has granted bail to a man who was accused of cheating investors of more than Rs 30 crore.
An FIR (first information report) under Sections 409, 420, 467, 468, 471 read with 34 of the Indian Penal Code and Section 66D of the Information Technology Act along with relevant Sections of the Maharashtra Protection of Interest of Depositors (MPID) Act was registered by Wakad Police Station, Pune against the accused.
The accused Nilesh Wani was arrested on July 14, 2023, at Ahmedabad airport when he came from Dubai to visit his family.
He was declared an absconder, and a lookout circular was issued against him by the trial court as he was not in the country, said his counsel Advocate Aashuutosh Srivastava.
The prosecution counsel had advanced its argument that it is a very serious offence allegedly involving more than Rs 30 crores of the investors' money, which were taken by Infinox company for forex and share trading with a promise of very high returns and the investors were duped of their money.
Adv Srivastava, on the other hand, argued on behalf of accused Wani that he is innocent and has been falsely implicated in the case.
The investigation is over and also the chargesheet along with the supplementary chargesheet have been filed and all the documents, laptop, mobile phones and other evidences have been collected by the Economic Offences Wing (EOW), PCMC Commissionerate and he is a undertrial prisoner, he continued.
The company is registered in UAE and has got licences to do forex trading and the accused was also employed and posted at Dubai in UAE, and hence, prima facie, the alleged offence against the accused is not made out and also his further custody is not required, said Adv Srivastava.
Sessions Judge Waghmare, after considering the facts and circumstances of the case, granted a conditional bail to Wani on Sunday (yesterday), he added.
UNI SP SS
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