Delhi Court Grants Bail in High-Profile Crypto Fraud Case

A Delhi court granted bail to Lakshay Vij, accused of defrauding a US national via cryptocurrency. The court emphasized that law should not extend detentions unreasonably without trial, highlighting the importance of fundamental rights over detention under money laundering laws.

In a significant ruling, a Delhi court has granted bail to Lakshay Vij, indicted in a money laundering case for allegedly deceiving a US national. The court underscored that legal provisions should not unduly extend pre-trial detention.

Presiding over the case, Special Judge Gaurav Rao stated that Vij, in custody for over five months, had endured enough detention, emphasizing India's legal preference for bail over jail. The ruling cited constitutional rights under Article 21, which advocates for life and liberty, over statutory constraints of the Prevention of Money Laundering Act.

The court acknowledged the gravity of economic offenses but stressed that the severity of punishment should align with both the crime's details and broader implications. The investigation by Enforcement Directorate (ED) was complete, with no fair possibility of timely trial conclusion, according to the judge.

(With inputs from agencies.)