Delhi court denies bail to accused in Rs 157 cr international fraud case

The fraud is believed to have been executed through fraudulent calls originating from call centres located in India

New Delhi: A Delhi court has rejected the bail plea of Sanket Bhadresh Modi, an accused in a case involving the alleged cheating of approximately Rs 157 crore from individuals in multiple countries, including the USA.

The fraud is believed to have been executed through fraudulent calls originating from call centres located in India. The Central Bureau of Investigation (CBI) has claimed that the accused individuals posed as officials from entities like the Indian Revenue Services, the USA immigration department, and various banking and financial institutions. These impostors reportedly coerced victims into paying fees, fines, or taxes through various means while also extracting sensitive bank account details and credentials. Special Judge Ashwani Kumar Sarpal cited the accused’s failure to cooperate with investigations on multiple occasions, including non-disclosure of passwords for email accounts and Bitcoin wallets. Additionally, the accused was accused of pressuring and threatening his employees not to cooperate with the CBI.

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Judge Sarpal expressed concerns about the potential tampering of digital evidence if the accused were to be released. The accused’s involvement in Bitcoin Wallets and iCloud Accounts was also under investigation due to his non-disclosure of passwords. The judge noted that further evidence recovery and clarity on the money trail were expected after access to these accounts and emails, making the accused’s release at this stage a hindrance to the investigation.

The CBI has filed the case under various sections of the Indian Penal Code, including criminal conspiracy, personating a public servant, extortion, cheating, and criminal intimidation, along with relevant sections of the Information Technology Act.

The prosecution contended that the racket had been operational since 2015, targeting US citizens with threats of arrest, criminal cases, fines, and property seizure.