The Special Court of PMLA, Bengaluru (CCH-1), on Thursday rejected the regular bail application filed by Sunish Hegde, an associate of Sriki, in connection with the Bitcoin scam case. The decision was confirmed by court records reviewed by DH.
Case Background
Sunish Hegde is among several individuals linked to the alleged Bitcoin scam, which also involves the Nalapad brothers. The scam, which came to light in recent years, has led to multiple arrests and ongoing investigations by law enforcement agencies.
Court's Decision
The Special Court, presided over by a designated judge under the Prevention of Money Laundering Act (PMLA), denied bail after considering the arguments from both the prosecution and the defense. The prosecution opposed the bail, citing the gravity of the offense and the need for further investigation.
Impact and Next Steps
Hegde will remain in judicial custody as the investigation continues. The denial of bail signals the court's stance on the seriousness of the money laundering allegations. The accused may seek relief from higher courts.
