Supreme Court Grants Bail in Chhattisgarh Crypto Scam

The Supreme Court has granted bail to an accused in a crypto currency scam in Raipur, requiring a Rs 35 lakh security deposit within six months. The case involved economic offenses where 2,000 investors lost money. The trial is expected to be lengthy, influencing the court's decision.

In a significant judicial development, the Supreme Court has granted bail to an individual implicated in a cryptocurrency scam in Raipur, Chhattisgarh. The bail comes with a condition of a Rs 35 lakh security deposit to be fulfilled within six months.

The case, which involves around 2,000 investors and alleges economic misconduct, is expected to be a protracted trial. This factor contributed to the court's decision to grant bail, despite the seriousness of the allegations.

While acknowledging the unusual nature of imposing such a financial condition, the bench of Justices J B Pardiwala and R Mahadevan noted the necessity due to the specifics of the case. They warned that failure to meet the deposit condition would result in automatic cancellation of the bail.