A Mumbai court has rejected the anticipatory bail application of a woman accused in a Rs 1.96 crore investment fraud case, citing the possibility of her tampering with evidence, with her husband also being an accused in the case.
The case involves allegations that Zakir Khan, the husband of Ayesha Zakir Khan, defrauded several investors through a scheme promising high returns via a platform called ‘Right Capital App’.
According to the complaint, the accused duo lured investors between October 2023 and November 2024, assuring them of lucrative returns. The complainant himself invested Rs 13.6 lakh, while 32 others collectively invested over Rs 1.96 crore.
Initially, investors were able to view their funds and accumulated profits on the app. However, after November 2024, all data on the platform disappeared. When they reached out to Zakir Khan, he assured them that the company had suffered losses but promised their funds would be restored.
As time passed, neither the money nor the app data was recovered, and the accused stopped responding to calls, raising suspicions of fraud. Subsequently, a case was registered against the couple.
Opposing Ayesha Khan’s bail plea, Additional Public Prosecutor PB Bankar argued that substantial evidence linked her to the scam. Financial records showed that Rs 60,000 had been transferred to her bank account by the complainant, while an additional Rs 10 lakh was allegedly handed over to her in cash. Furthermore, bank transactions with other investors reinforced her involvement in the scheme.
It was also alleged that Ayesha Khan was untraceable at her registered address and had failed to cooperate with the police investigation. The court observed that recovering the misappropriated funds and retrieving deleted digital data required custodial interrogation.
Considering the scale of the fraud and the risk of evidence tampering, the court deemed anticipatory bail inappropriate and dismissed her plea, which was filed through advocates Abid Sayyad and Asif Shaikh.
“Considering the huge amount embezzled, there is every possibility of the applicant absconding and tampering with evidence,” the judge said.
The court ruled that the allegations were serious and warranted a detailed investigation. It directed the police to continue the investigation and ensure the accused’s cooperation in the case.
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