BENGALURU: Noting that in an era where online transactions are the lifeblood of commerce, finance, and communication, any compromise in their integrity has severe repercussions for society as a whole, a city civil and sessions court rejected the anticipatory bail petition filed by an accused in a cyber crime case.
Kiran S from Rajajinagar is facing charges of introducing the complainant, Maharudra, to another accused, who allegedly got Rs 90.45 lakh transferred from the bank account of the complainant’s wife after he joined the Whatsapp Group created by the accused for online stock trading.
The public is facing problems with technology hackers. The custodial interrogation of the accused is required, said Somashekara A, Judge, 49th Additional City Civil and Sessions Court, rejecting the petition recently.
The court stated that the offence revolves around a well-organised, inter-state racket engaged in online financial trap laying scam.
According to the complaint registered with North CEN police station, the petitioner introduced the complainant to J Shivashankar, the accused No.1. The complainant was called over his mobile number on January 24, 2025, and induced to invest money by accused Vijay Thakur. They requested him to join the WhatsApp group.
They assured high returns through option trading, initial public offer and share allocation. Later they cheated the complainant and his wife by impersonation that they belonged to Genius Innovative Trading and Nirmal INT Company, extracting Rs 90.45 lakh by transferring from the complainant’s wife to various bank accounts.
The court observed that the seriousness of such scams extends far beyond the immediate victims. At their core, they strike at the heart of the nation’s financial stability. By undermining trust in online transactions, these fraudulent activities have a cascading effect that resonates throughout the entire economic landscape. When the trust in online transactions is shaken, it leaves individuals wary and apprehensive, rendering them vulnerable to financial exploitation.
As a result, the public becomes increasingly reluctant to engage in online financial activities, which can significantly impede economic growth, innovation, and financial inclusion. This court recognises the urgent need to address such issues with the utmost seriousness, not only to protect individuals from financial harm but also to ensure the continued vitality of online financial systems and, by extension, the broader economy, the court noted.