Cryptocurrency Fraud Case: Lakshay Vij in Judicial Custody
On Monday, a court in New Delhi sent Lakshay Vij to judicial custody following his arrest by the Central Bureau of Investigation (CBI) in a cryptocurrency fraud case. Previously, Vij was arrested by the Enforcement Directorate (ED). Additional Chief Judicial Magistrate Nishant Garg ordered Vij to remain in custody until November 11, 2024, to ensure a fair investigation and prevent evidence tampering.
The court noted that the investigation revealed a transnational cybercrime racket targeting foreign nationals by accessing their computers and tricking them into transferring cryptocurrency. The court found initial evidence of Vij’s involvement in this conspiracy with others.
During his police custody, Vij was confronted with evidence linking him to accused individuals Prafful Gupta and Karan Chugh. However, the mobile phone used in the crime was not recovered. The CBI argued that Vij’s custody was necessary to prevent him from influencing witnesses or tampering with evidence.
Vij’s defense, led by Advocates Prabhav Ralli, Yuvraj Bansal, and Vanya Gupta, argued that his initial arrest was unlawful, which should invalidate subsequent proceedings. They also claimed that since Vij was already in custody for the ED case, he posed no threat to the investigation. The court noted that no bail application had been filed on Vij’s behalf.
Doubts Revealed
Judicial Custody -: Judicial custody means that a person is kept in jail while their case is being investigated or tried in court. It is different from police custody, where the police keep the person for questioning.
Cryptocurrency -: Cryptocurrency is a type of digital money that uses special technology to keep it secure. It is not controlled by any government or bank, and people can use it to buy things online.
CBI -: CBI stands for Central Bureau of Investigation. It is a top Indian government agency that investigates serious crimes like fraud and corruption.
Enforcement Directorate -: The Enforcement Directorate is a government agency in India that investigates financial crimes, like money laundering and fraud.
Cybercrime Racket -: A cybercrime racket is a group of people who use computers and the internet to commit crimes, like stealing money or personal information from others.
Evidence Tampering -: Evidence tampering means changing or hiding information that is important for solving a crime. It is illegal and can affect the outcome of a court case.
Bail Application -: A bail application is a request made to the court to release a person from custody while their case is being decided. If granted, the person can stay out of jail by promising to return for their trial.
