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Accused in Rs 100 crore Cashcoin Cryptocurrency scam Baljeet Saini gets bail : Supreme Court
In the matter concerning Saini was among several arrested earlier this year for duping people into investing for a cryptocurrency dubbed Cash coin, promoted as being similar to the Bitcoin. After busting the racket in February last year, the Mumbai police had arrested Saini along with three others in June 2018 wherein the Delhi Police are also probing the 100 crore scam.
The Apex Court granted bail to Baljeet Saini, one of the prime accused in the Cashcoin cryptocurrency scam. Bail was allowed by a Bench comprising of Justices Rohintan Fali Nariman and S Ravindra Bhat subject to Saini furnishing a Rs 1 lakh personal bond and a surety of equal value.
Further, Saini has been directed by the Supreme Court to deposit Rs 15 lakh with the Court Registry within six months. This amount is to be kept in an interest bearing short-term fixed deposit of a nationalised bank. Apart from these stipulations, bail was granted subject to the following conditions:
- That the accused shall not commit any offence similar to the offence of which he is accused;
- That the accused shall not directly or indirectly make any inducement, threat or promise to any person acquainted with the facts of the case so as to dissuade such person from disclosing such facts to the Court or to any police officer or tamper with the evidence;
- That the accused shall join further investigation as and when required by the Investigating Officer or by the Enforcement Directorate;
- That the accused will deposit his passport with the Registry of this Court within a period of one week from today. If it is with the Pune Police, Cyber Cell or with any other authority, they shall deposit the aforesaid passport with the Registry of this Court within the aforestated period;
- That the accused shall not in any manner use any digital wallet in his name or in any of his associates’ name or do any trading or mining to misappropriate BITCOIN in any manner whatsoever.
- That the accused will report on every Monday of a week to the concerned Police Station at Delhi.
Therefore, the highest court of record granted bail to the main accused Baljeet Saini in Rs 100 crore Cashcoin Cryptocurrency scam.
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