A woman from Surat has been denied bail by the High Court in a case involving a multi-crore coal trade fraud. The woman was accused of cheating people out of 4.57 crores under the pretext of investing in coal. The police filed a complaint under section 420 at the Adajan police station in Surat.
The complainant, a widow, alleged that the accused woman persuaded her to invest in coal trading. The woman allegedly obtained about 1.30 crores from the complainant and her relatives, promising returns that never materialised. When the complainant sought her money back, the accused refused, which led to the police investigation.
Further inquiries revealed that the accused had defrauded other investors as well, accumulating a total loss of 4.57 crores. The woman who issued investment receipts and was linked to the company was named during police investigations.
The accused, aged 50, filed an anticipatory bail application in Surat Court, which was rejected. She then approached the High Court for bail, but her request was also denied. The court was informed that the woman claimed she played no active role in the scam and had not received any money.
The court heard that she was also a victim, having invested in the company herself. However, the High Court noted that she had worked with the main accused for three months. Despite only completing up to the ninth grade, she reportedly received a salary of 49,000 rupees per month, raising suspicions about her involvement.
The court concluded that her active role in the crime was evident, leading to the denial of her bail application. This case highlights the ongoing issues of investment frauds in Gujarat, where many individuals have fallen victim to similar scams. Authorities are urging potential investors to exercise caution and conduct thorough research before investing in any schemes.
The case remains under investigation, and the accused woman will continue to face legal proceedings as the police gather more evidence. The High Court’s strict stance on bail in such fraudulent cases serves as a warning to those involved in dubious financial activities.
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