E-Paper
Cryptocurrency fraud: Pune court directs accused to deposit Rs20 lakh before being released on bail
Out of ₹40 lakh, the judge has ordered the accused to deposit ₹20 lakh immediately before his release
PUNE Additional sessions judge, Pune, SS Gosavi has ordered Ganesh Shivkumar Sagar (47), a resident of Delhi, booked in connection with a cryptocurrency fraud to deposit ₹40 lakh within three months from the date of the temporary bail. Out of ₹40 lakh, the judge has ordered the accused to deposit ₹20 lakh immediately before his release.
Sagar was arrested by the cyber police on March 1 this year in connection with duping multiple investors from Pune to the tune of ₹8,434,641.76 by luring them into a lucrative investment scheme of cryptocurrency.
The order stated, “The applicant Ganesh Sagar be released on temporary bail till June 30, 2022, on furnishing bail in the sum of Rs100,000 with one or more surety in the like amount on conditions like without prejudice to his rights and defence, Sagar is directed to deposit ₹40,00,000 with three months from date of the order. Out of that amount, he shall deposit ₹20,00,000 immediately before his release on bail.”
The order further added, “After the release of the applicant on temporary bail, the applicant shall record his attendance on 1st and 15th day of each month before the investigation officer of the case till June 30, 2022. Within eight days of his release from jail, he shall file an undertaking supported with an affidavit that in future during the investigation, if it is found that he is liable to deposit more amount, he shall have to deposit that amount within a period of three months from the order of the court.”
