Bengaluru: Two denied bail in cryptocurrency case

BENGALURU: Two persons, who were arrested for allegedly cheating a businessman of Rs 3.5 crore on the pretext of helping him invest in cryptocurrency business, have been denied bail by a city civil and session court.

While applying for bail, Piyushbhai Himmatlal Soni and Rajeshbhai Dhirajlal Soni from Gujarat had maintained that cryptocurrency transactions were not regulated by Reserve Bank of India or the law of the land.

South CEN Crime police had arrested them a month ago. The main suspect, Kunal Anup Chandrana, is still at large. A local court had dismissed Chandrana’s anticipatory bail plea on August 10.