Pre-arrest bail to woman doctor in investment fraud case
Mumbai: A court granted anticipatory bail to a Satara-based doctor in an investment fraud case on Monday, ruling that not explaining certain transactions in her bank account does not amount to non-cooperation with the investigation.
Dr Yugandhara Kale is under scrutiny by the Economic Offences Wing of Mumbai Police in connection with a fraud involving her husband, Vikram, who was already arrested.
According to the EOW, the couple enticed people to invest in the stock market, promising high returns. While initial returns were paid for about five months, payments ceased thereafter, leading to investor complaints.
The prosecution argued that Dr Kale's involvement is evident from the funds transferred into her account, including ₹9 lakh during the alleged fraud period, and from agreements signed with four investors.
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However, Dr. Kale, through her lawyer, contended that her husband operated the account and that she registered a non-cognisable complaint against him upon discovering the fraud in September 2023.
The court noted that prima facie, the applicant had not much role in the fraud, and there is no specific allegation against her in the FIR.
Upon reviewing the bank records, it was observed that while her account received various deposits from Vikram, most of the money was subsequently transferred back to him, suggesting the account was used to route funds rather than as a tool for deception.
The court noted that Dr Kale had appeared before the police in response to the notice and recorded her statement.
"She has cooperated in the investigation. Still, the investigating officer is opposing the bail application without giving any specific ground for arrest and custodial interrogation. Merely because the applicant had not stated anything about the amount transferred in her bank account, it cannot be considered as non-cooperation in the investigation," the court said.
Also Read:Fake Investment Scheme: Doctor booked for defrauding 68-year-old patient of Rs 1.37 crore
