Daijiworld Media Network – Sattari

Sattari, Sep 9: The Judicial Magistrate First Class (JMFC) court at Sattari has framed criminal charges against Kumar Laxman Utlasar in connection with an alleged Rs 1.03-crore cyber investment scam.

The court rejected Utlasar’s plea seeking discharge from the case, observing that the alleged renting out of commercial bank accounts to facilitate the siphoning of proceeds of crime in return for commission indicated his active involvement in the offence.

The court’s decision paves the way for the criminal proceedings against Utlasar to continue in connection with the alleged cyber investment fraud.

The case pertains to an alleged online investment scam in which victims were reportedly defrauded of around Rs 1.03 crore. Investigations into the financial transactions and the role of those allegedly involved are continuing.

With the court framing charges, the case will now proceed to the next stage of criminal proceedings.