Money Laundering - Grant of bail - The petitioner, seeking bail ...

Bail Denied: 14-Month Detention Continues for Money Laundering Suspect Amid Ongoing Investigation and Serious Charges.

May 17, 2024

Case Laws Money Laundering HC

Money Laundering - Grant of bail - The petitioner, seeking bail after 14 months of detention, faced allegations of involvement in a complex money laundering scheme, using dummy firms and fraudulent accounts to launder substantial sums of money. The petitioner’s role extended beyond professional duties, involving active participation in the financial crimes. The court recognized the petitioner’s right to a fair trial under Article 21 but emphasized the gravity of the offenses and the ongoing investigation. The court applied the twin conditions under Section 45 of the PMLA, noting the failure of the petitioner to prove prima facie innocence. The court justified the continued detention, considering the seriousness of the economic offenses and the need for further investigation. Thus, the court rejected the bail application.

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Money Laundering - Grant of bail - The petitioner, seeking bail ...

Bail Denied: 14-Month Detention Continues for Money Laundering Suspect Amid Ongoing Investigation and Serious Charges.

May 17, 2024

Case Laws Money Laundering HC

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