PMLA Court Denies Bail To Accused In 104 Crore Cyber Fraud Case

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Court Rejects Bail for Accused in ₹104 Crore Cyber Fraud Case

A special court in Ahmedabad has denied bail to Kaashif Makbul, one of several individuals accused of orchestrating a nationwide cyber fraud scheme that allegedly generated over ₹104 crore in illicit proceeds.

The Court’s Decision

The court’s decision was based on the severity of the offense, the scale of the financial fraud, and the alleged role of the accused in laundering the proceeds.

According to sources, the court applied stricter standards for bail under the Prevention of Money Laundering Act (PMLA), requiring the accused to demonstrate prima facie innocence.

The Investigation

Investigations have revealed that the accused, including Kaashif Makbul, were part of a sophisticated cyber fraud network that targeted victims across India.
The proceeds were allegedly laundered through multiple bank accounts, shell entities, and digital assets to conceal the money trail.
Authorities have also found evidence of high-value transactions and lifestyle expenditures, further strengthening the money laundering allegations.

Chargesheet Filed

In October 2025, the Enforcement Directorate arrested multiple accused in connection with the probe. A detailed chargesheet was subsequently filed before the PMLA court, naming Kaashif Makbul and others for their alleged involvement in laundering proceeds of crime.

Bail Rejection Highlights Stringent Framework

The case highlights the stringent bail framework under PMLA, where courts must be satisfied that the accused is not guilty and unlikely to commit further offenses while on bail. With the bail rejection, Kaashif Makbul will continue to remain in judicial custody as the investigation and trial proceedings move forward.