Delhi court dismisses bail plea of man accused in duping Rs 2.25 crores using mobile application

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A Delhi court has recently dismissed a bail application of a man accused in a case related to duping of Rs. 2.25 crore using a mobile application on the pretext of investment. The court dismissed the plea in view of accused's active role in transfer of money and involvement of two Chinese Nationals.

Additional Sessions Judge (ASJ) Joginder Prakash Nahar dismissed the bail plea of accused Mustakeen Ali.

While dismissing the plea, the court noted that accused Mustakeen Ali has active involvement in transfer of funds of Rs.2.25 crores from an account in a short period of time.

The Court said, "The said amount is under investigation with the Investigation Officer (IO). The other two Chinese nationals in touch with accused Mustakeen Ali are also yet to be traced out."

"Keeping in view the facts and circumstance of the case against the accused Mustakeen Ali it is not desirable to grant bail to him at this stage of proceedings," the court said in the order.

It further said that in fact his total involvement in the case regarding such transfer of fund for a sum of Rs.2.25 crores is yet to be traced out and he may also tamper with evidence.

In such circumstances of the case it is held that the accused Mustakeen Ali is not entitled to bail at this stage of proceedings, the court said.

However, the court granted bail to another accused Jai Vardhan alias Jai Singh. Advocate Sanjeev Malik and Shivani Yadav appeared for Jai Vardhan Singh. Delhi police opposed the bail plea and filed a reply.

It was submitted by the IO that one Vikram Singh had filed an online complaint regarding online financial fraud. Later on, he gave a written complaint in which he stated that he has serving as a Boutique Operation Specialist in a showroom in Karol Bagh for the past 15 years.

On 10-01-2024 while at work, he came across an advertisement/link promoting the Million Rupees Stock Academy on a social media platform. Thereafter, he clicked the link, which led him to a WhatsApp group administered by Shefali Bagga. Shefali Bagga and others, using the mobile numbers, initiated contact with complainant and encouraged him to download the "Well Pro app" for trading in shares, he alleged.

As reply of Delhi police, she claimed SEBI registration and a Mumbai office for legitimacy. She guided him how to invest and earn huge profits through them. She told him that they are registered with SEBI and their office is in Mumbai. He downloaded the said mobile app at her pursuance. She asked him to invest with small amount. She sent him the details of bank Current account to transfer the money. The account was in the name of "Singh Garments" at Chandni Chowk, Delhi Branch. She persuaded him rigorously and asked him to invest small amount to earn huge profit. She taught him the functioning of "Well Pro App".

On 14/01/2024, he invested a small amount of Rs 10,000 through online mode to the above said bank account from his bank account. He shared the screen shot of the same with Shefali Bagga. The amount added was shown on his account on "Wells Pro Mobile app" and started trading with them. The amount and profit was visible on well Pro app. On 23 January, 2024, Shefali Bagga suggested him that if he will keep Rs. 6,00,000/- (Six Lakh) amount in his "Wells Pro App" account then he will be able to apply with 3 times of the deposited amount.

On advice of Shefali Bagga, complainant transferred the Rs 6,00,000 in the same bank account and applied for 3 times of the amount for IPO through same mobile app. Later on, he was said to have allotted with 24,000 shares of the IPO and he has further asked to deposit a total of 15,84,000.

He discussed this with his friend who told that he is getting cheated by them and suggested him to speak to Shefali Bagga on normal voice call. He tried to talk to her over given mobile numbers but both the numbers were switched off. He realized that he has been cheated for Rs. 6,52,000 by the accused persons. He requested for legal action.

On the basis of his complaint an enquiry was conducted. Subsequently, a case FIR under sections 419/420/120B IPC was registered and investigation was taken up.

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