The court dismissed the petitioner's application for regular ...

Money laundering mastermind denied bail over deep-rooted conspiracy involving bank entries for commission.

Case Laws     Money Laundering

September 18, 2024

The court dismissed the petitioner's application for regular bail in a money laundering case. The key points are: The predicate offence involved Veerendra Kumar Ram giving cash to Mukesh Mittal, who used entry providers like the petitioner to make entries in bank accounts and route funds. The petitioner is alleged to be the mastermind behind using bank accounts for laundering/routing funds, making him a key person in the nexus providing entries for commission, thus involved in the money laundering offence. Despite the petitioner's long jail time, the court considered the serious nature of the socio-economic offence with deep-rooted conspiracies affecting societal moral fibre. The investigating agency was expediting the trial. With direct allegations of the petitioner's involvement in proceeds of crime, the court denied bail.

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