Economic Offences Corrode Fabric Of Democracy, Against National Economy And National Interest: Delhi High Court

The Delhi High Court observed that economic offences corrode the fabric of democracy and are against the national economy and national interest of the Country where innocent investors are duped of their hard-earned money. The observation came from Justice Anu Malhotra while denying bail to a man accused in a crypto currency chit fund scam for allegedly inducing people to invest in the crypto currency in his firm on the assurance of high return upto 20-30% per month. “…taking into account the allegations levelled against the applicant of he with his associates having duped the complainants allegedly to the tune of Rs.2.5 Crores in the instant case which relates to an alleged commission of an economic offence, which offences corrode the fabric of democracy and are committed with total disregard to the rights and interest of the nation and are committed by breach of trust and faith and are against the national economy and national interest, whereby a large number of innocent investors have been duped of their hard-earned money, it is not considered appropriate to release the applicant on bail,” the Court said.