Advocate denied bail in money laundering case

: A court here on Saturday refused to grant bail to advocate Rohit Tandon in a money laundering case connected with demonetisation.

₹13.6 crore seized

The Enforcement Directorate had arrested Tandon last month after ₹13.6 crore was allegedly seized from his law firm here during a raid.

Dismissing his bail plea, Additional Sessions Judge R.K. Tripathi said: “The matter is at a crucial stage of investigation. The source of the funds is yet to be ascertained. The accused, if enlarged on bail at this stage, might tamper with the evidence and influence the material prosecution witnesses, thereby hampering the investigation...”

Matter of concern

Stressing that crimes that have heavy economic costs need to be viewed seriously, the judge said, “The offences that have deep-rooted conspiracies and involve a huge loss of public funds pose a serious threat to the financial health of the country.”

“The accused has been allegedly found to be involved in a white collar crime. The alleged offence was committed by the accused in conspiracy with other co-accused persons in a well-planned and thoughtful manner,” Mr. Tripathi added.