Kasaragod (Kerala): The Court rejected the bail plea of Manjeshwaram MLA M C Kamaruddin, the second accused in the Fashion Gold jewellery deposit scam, here on Thursday.
MC Kamaruddin has allegedly swindled money in crores from hundreds of investors in the gold deposit scheme.
The Court decided to reject the bail plea based on the prosecution argument against it, pointing out that MLA Kamaruddin might influence the witnesses and the complainants in the case if he is let out on bail. The police have recorded the MLA’s arrest in 11 more cases in connection with the scam.
Meanwhile, Chandera Police have registered two more cases in connection with the jewellery deposit scam. With this, a total number of 127 cases have been charged against him in Kannur and Kasaragod districts in connection with the gold deposit scam.
However, the defence counsel argued that the charges against the MLA, under Indian Penal Code section 429, including cheating, will not stand. But the Prosecution argued that many charges against the MLA, including cheating, will stay and pointed out that 70 cases have been already registered by the Special Investigation Team against Kamaruddin.
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The Court considered this argument and denied the bail to Kamaruddin, and said that the investigation is still in a very early stage. Of the 127 cases charged altogether, Kamaruddin has been arrested on 25 cases, including the 11 recorded in the last two days. More cases might be charged against him in the coming days.
The Court, rejecting the bail plea, said that if bail is allowed, the accused who is an elected representative may influence the complainants and topple the case. The Court also observed that the medical report produced by the Defendant lawyer in the Court along with the bail plea is old. Meanwhile, the three accused persons against whom lookout notices have been issued, including the jewellery’s managing director Pookkoya Thangal, are still absconding. The investigation team suspects that the three accused persons have not left the district. The police team is on the lookout to nab the trio.
