The case originated from complaints involving various platforms that lured the public by promising to double investments through virtual currencies and fake websites. (AI-generated image)

Himachal Pradesh High Court news: The Himachal Pradesh High Court has dismissed the bail plea of a man allegedly involved in a massive cryptocurrency-based Multi-Level Marketing ( MLM ) scam, asserting that economic offences are grave and affect the nation as a whole.

Justice Sushil Kukreja was dealing with a plea of a man involved in a fraudulent scheme that allegedly defrauded over 80,000 investors of an estimated investment of Rs 2,000 crore.

Justice Sushil Kukreja found that the petitioner handled cryptocurrency-based transactions without providing any satisfactory explanation regarding the utilisation of the funds.

“Economic offences are considered grave offences as they affect the economy of the country as a whole, and such offences having a deep-rooted conspiracy and involving huge loss of public funds are to be…