Mumbai Court Denies Bail to Class 12 Student in ₹3.81 Crore Cyber Fraud Case

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A sessions court in Mumbai has rejected the bail plea of a 19-year-old Class 12 student, Yash Thakur, who was arrested by the Central Bureau of Investigation (CBI) in a high-profile cyber fraud case involving ₹3.81 crore. The court noted that the scale of the offense and its execution through sophisticated digital means posed a serious threat to the national economy.

The student is accused of acting as a facilitator in the scam, allegedly helping the prime accused by arranging hotel stays, booking flights, and procuring SIM cards using forged documents. He has denied direct involvement, claiming he was assisting an acquaintance with logistical needs and did not receive any financial benefit from the crime.

However, the court observed that the crime involved the use of multiple electronic devices, fake identities, and coordinated transactions across digital platforms. It ruled that the possibility of tampering with digital evidence, influencing witnesses, or fleeing from justice could not be ruled out if bail was granted.

The CBI investigation revealed that on July 2, ₹3.81 crore was funneled through 12 separate transactions into a mule account belonging to SP Cargo and Courier Services Pvt Ltd, directed by Sudhir Palande. Authorities believe the student played a critical role in facilitating the fraudulent network, particularly in securing communication tools and accommodations.

During the hearing, Thakur argued that there was no evidence linking him to the core of the financial crime and that he was unaware of the larger fraud operation. He also cited his young age and ongoing education as grounds for leniency.

The court, however, maintained that given the early stage of the investigation, releasing the accused could impede ongoing efforts to track the digital trail and uncover other participants. It emphasized the need for a thorough probe, particularly in financial crimes involving cryptocurrency, fake SIM usage, and digital laundering.