The Bombay High Court has rejected the anticipatory bail pleas of Arshad Manzoor Ansari, 24, and Amir Suhail Dhamaskar, 23, in connection with their alleged involvement in a cryptocurrency fraud and kidnapping scheme. The case, registered under FIR No. 901/2024 at Naupada Police Station, Thane, accuses the two men of luring the informant into a fraudulent cryptocurrency trading deal and subsequently abducting him to extort non-existent debts.
Allegations of Fraud and Kidnapping:
The prosecution has alleged that in June 2024, Ansari and Dhamaskar convinced the informant to invest in cryptocurrency trading by promising commissions for each transaction. Gaining the informant’s trust, they presented him with a falsified screenshot of a USD 1910 transfer and demanded repayment of the amount. When the informant refused, the situation escalated into abduction on August 3, 2024.
Both Ansari and Dhamaskar allegedly abducted the informant using a vehicle, forcibly took Rs. 3,000 in cash and signed blank cheques from him, and coerced him into recording a video admitting to the false liability. Additionally, the accused allegedly deleted evidence from the informant’s phone related to the fraudulent cryptocurrency transactions.
Defense’s Claims:
Ansari and Dhamaskar’s defense teams argued that the matter was purely civil, concerning a financial dispute rather than a criminal one. Ansari’s defense maintained that the informant owed him money, while Dhamaskar’s counsel claimed his involvement was limited to a phone call and that he had no part in the abduction or fraudulent activity.
Prosecution’s Stand:
The prosecution emphasized the seriousness of the charges, noting that cryptocurrency trading is unregulated in India, adding a layer of complexity to the fraud. They argued that custodial interrogation was crucial, as key evidence, including the vehicle used in the abduction and mobile devices, had yet to be recovered. Additionally, they noted the potential for more victims coming forward with similar complaints of fraud.
Court’s Decision:
Judge R.N. Laddha rejected both bail applications, ruling that the evidence, including CCTV footage and witness testimony, suggested the involvement of Ansari and Dhamaskar in the abduction and fraudulent scheme. The court emphasized the need for further investigation and custodial interrogation to recover missing evidence and prevent potential tampering.
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