Monson Mavunkal, the accused in the fake antique cheating case, was denied by a trial court here on Tuesday.
Denying the bail application, P.V. Rejula, the Additional Chief Judicial Magistrate, Ernakulam, noted that the apprehension of the prosecution that the accused may tamper with the evidence and influence and intimidate the witnesses was genuine.
The custody of the accused was necessary for the investigation agency for his interrogation and collection of evidence, the court noted.
The prosecution case was that the accused deceived a few persons, who preferred a complaint against him for cheating, by making them believe that he had ₹2,62,000,000,000,00 in his account with the Hongkong and Shanghai Banking Corporation by way of sale of antique and diamonds.
He made them believe that the funds could not be released due to technical issues in respect of Foreign Exchange Management Act (FEMA). He also offered to provide interest-free loans to them on releasing the amount from the bank, the prosecution submitted.
The prosecution also submitted that the petitioner pedalled high influence over higher officials, politicians and reputed persons in society.
The prosecution further submitted that the accused made the complainants believe that he had connections with reputed persons in society and he secured many honorary doctorates and visited many countries.
He showed the luxury cars in his museum at Kaloor and also his photographs with reputed persons to induce the complainants to deliver ₹10 crore directly and through accounts of his men, it said.
In its order, the court noted that the accused had also showed forged accounts statements and orders of FEMA to induce people to deliver crores of rupees. The acts of the accused prima facie showed his dishonest intentions at the very inception and forgery for the purpose of cheating.
The prosecution thus made out a prima facie case against the accused. He was also involved in other crimes registered for similar offences. The investigation in the present case was in its initial stages, the court noted.
