Tuesday, December 18, 2018
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Posted at: Dec 7, 2018, 12:51 AM; last updated: Dec 7, 2018, 12:51 AM (IST)

No to fraudster Radhey Shyam’s bail plea

Hisar, December 6

The Additional Sessions Court in Fatehabad has rejected the bail plea of Radhey Shyam who has been booked in Rs 2,950-crore fraud case. The Fatehabad sadar police had booked him under Sections 406,420, 467,468, 471, 120-B of the IPC and Prize\\ Chits\\ and Money Circulation Schemes (Banning) \ Act\\. The court rejected the bail, stating that the accused could remain absent from appearance and could try to influence the witnesses.

Earlier, the Telangana police on December 1 had invoked detention order under the Preventive Detention Act against Radhey Shyam, who is the CMD of the Future Maker Life Care Private Limited — a chit fund firm facing fraud charges in Haryana and Telangana.

The Cyberabad police said the accused had been habitually and continuously engaging in unlawful activities by cheating innocent youths, uneducated and retired people with gullible words in the guise of a multi-level marketing binary scheme in the Future Maker firm.—TNS

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