BRIJESH RAIKWAR Vs. STATE OF MADHYA PRADESH

JUDGEMENT

(1.) Heard through Video Conferencing. This is second application under Section 439 of Cr.P.C. for grant of bail. Applicant Brajesh Raikwar was arrested on 23/06/2019 in connection with Crime No.20/2018 registered at Police Station S.T.F., Bhopal, District- Bhopal (M.P.) for the offence punishable under Sections 420, 468, 471 of the IPC and Section 66-D of the I.T. Act.

(2.) Earlier bail filed by the applicant was dismissed on merit vide order dated 28.01.2020 passed in M.Cr.C. No.50893/2019.

(3.) A s per the prosecution case, applicant Brajesh Raikwar and co- accused Rupesh Rai who were the business head for the marketing of a crypto currency Plus Gold Union Coin (PGUC) in India, by organizing seminars in hotels in many cities of India, publishing booklets and through the website assured complainants and other innocent investors that on purchasing the coin they would get guaranteed handsome returns within a certain period (at the time of maturity) thereby inducing the complainants and other innocent investors to invest the money in the scheme and took crores of rupees from innocent investors. Thereafter, under a pre-calibrated move, they started to lower down the price of that coin and lastly at the time of maturity, the value of the coin became zero. Thus, they committed fraud with the complainants and other innocent investors and embezzled their amount.