Mumbai: A special court on Thursday rejected the bail plea of a 59-year-old businessman, Shaikh Amirmiya, accused in a money-laundering syndicate from Malegaon involving over Rs 317 crore generated through cyber fraud and online gaming apps. Amirmiya was arrested in Jan 2025. While the defence argued that Amirmiya was not named in the initial police investigations, the court found substantial evidence suggesting he was a crucial link who facilitated the layering of illicit funds and attempted to flee the country to meet the alleged kingpin in Dubai. Noting the calculated nature of the scam, Additional Sessions Judge R B Rote said, “Considering the material on record, it shows that the ED has collected sufficient evidence against the applicant to show his involvement in the offence of money laundering and his connection with the absconding accused Mehmood Abdul Samad Bhagad alias Challenger King.“Addressing the rigours of the Prevention of Money Laundering Act (PMLA), the judge noted that the accused failed to satisfy the mandatory “twin conditions” for bail, which require the court to be satisfied that the applicant is not guilty and is unlikely to commit further crimes. “The proceeds of crime in respect of the offence of cyber fraud and online gaming app are involved in the offence. There is prima facie strong material on record showing the active involvement of the applicant in the offence of money laundering. The applicant has failed to satisfy the mandatory twin conditions. Therefore, the applicant is not entitled for grant of bail in this serious economic offence affecting the socio-economic condition of the society and the financial integrity of the nation,” the judge said.The Enforcement Directorate (ED) alleged that the proceeds of crime were funneled through dozens of shell entities and bank accounts opened using the stolen identities of unsuspecting individuals. Amirmiya was accused of working under the instructions of the alleged mastermind, Bhagad. The ED alleged that Amirmiya received cash commissions for facilitating withdrawals and was a member of a coordinated WhatsApp group used to manage hawala transactions and crypto-currency trades.The court also took a grim view of Amirmiya’s conduct following the initial ED searches. According to the prosecution, the accused travelled to Bangkok immediately after the raids and was later intercepted at Ahmedabad airport while attempting to leave for Dubai. The court noted allegations that Amirmiya had deleted digital evidence from his mobile phone and tried to influence officials.The judge noted the gravity of the offence and the risk of the accused absconding or tampering with witnesses outweighed the arguments for his release.“The case is fixed for framing of charges but the accused is refusing framing of charge on the ground that the accused is going to file an application for furnishing un-relied documents. Therefore, the applicant cannot be granted bail only on the ground of long incarceration,” the judge said.
