The Newz Radar
MANDI: The Himachal Pradesh High Court has granted bail to five persons accused in the Rs 210 crore forex trading case where they were accused of defrauding people under the guise of investment in Mandi district.
Justice Virender Singh issued the bail order today, requiring each accused to furnish a bond of Rs 50,000. The accused cannot leave the country without the high court’s permission and must actively cooperate with the ongoing police investigation. Those granted bail are Ramesh Chand, Chaman Lal, Jitendra Kumar, Chander Mohan and Kewal Krishan, who sought bail through advocates Narendra Guleria, Surendra Saklani and BS Baliyan. Their defence argued that the arrested individuals were investors themselves, leading the court to order their release after considering all arguments.
However, two persons, Neetu Sood, wife of main accused Rajendra Sood, and Dinesh Kumar, remain in custody. Rajendra Sood, Vineet Kumar and Santosh Kumar have fled abroad. Despite continuous efforts by the Mandi police in collaboration with the Central Government to repatriate them to India, success has not been achieved thus far.
After the multi-crore cryptocurrency scam rocked the state, the Mandi police had uncovered a forex trading scam, estimated to be more than ₹210 crore. The fraud was carried out under the name of QFX brand and spans across Punjab, Haryana, Chandigarh, Himachal Pradesh, Delhi, Gujarat and Goa. The company had been operating in Mandi since July 2021, with offices in Sadar and Nagchala. The Mandi police had since sealed the offices of the fraudsters at Nagchala and Zirakpur after arresting several persons in the case.
