Court extends police custody of bank manager accused of duping NRI woman of Rs 13.5 crore

Delhi’s Tis Hazari Court on Tuesday extended the police remand of an ICICI Bank manager by three days in a case of cheating and criminal breach of trust.
The man is accused of duping an NRI woman of Rs 13.5 crore. The Delhi Police EOW has registered a case against the accused along with others.
Police sought further custody of the accused to unearth the entire conspiracy and to arrest the co-accused.
Chief Metropolitan Magistrate (CMM) Sonam Gupta on Tuesday extended the police custody of Varun Vashishta for three days after hearing the application of Delhi police.
He is to be produced before the court on March 8, 2024.
Delhi police had moved an application seeking five days of further custody of the accused.
It was submitted that PC remand is required for the recovery of the misappropriated amount, to confront beneficiaries, and to apprehend the co-accused, Vipin Mishra.
It was submitted by the IO that sustained interrogation is required to unearth the whole facts as well as the conspiracy.
An FIR has been lodged on the complaint of Shweta Sharma who alleged that accused Varun had lured her to invest her money in FDs for high returns, however, they turned out to be fake FDs and complainant was being cheated with an amount of Rs. 13.5 crore.
Earlier, the Investigation Officer (IO) moved an application seeking ten days of PC remand of accused Varun Vashishta as he has been arrested on February 29, 2024, and he has to unearth the entire conspiracy as well as to probe the role of other accused persons and confront/verify various documents which were fabricated by the accused in bank.
It was further submitted by the IO that he has to get the accused identified and confronted with the bank staff.
Advocate Prabhav Ralli appeared for the complainant Shweta Sharma and supported the application moved by the IO.
Delhi police on February 26, 2024, registered an FIR against eight people including Varun and two women under sections 409, 420, 467, 468, 471 and 120B of IPC