Nagpur: Another defendant from Scam Wasanankar received a guarantee from the Nagpur bench of the Bombay High Court on Friday.
Abhijit Chaudhari, Brother-in-law Kingpin Prashant Wawant, will be released by the execution of Rs 5 Lakh bonds along with two solvent guarantees with the same amount as Justice Avinash Gharote.
He was behind bars for seven years and five months since being arrested on July 27, 2014.
In September last year, Vinay Young Wasankar was released on a guarantee, after spending a similar prison time here.
The defendant was arrested under a violation under Sigi.
, 406, 409, 506 & 120-B IPC, 3 of the MPID law, 24 (1) and 27 of Act Sebi, and 45 (1) (a) and 45 (s) from the RBI law registered by Ambazari police station.
Similar violations were also registered from the Prashant Chairman of Wasanankar, his wife Bhagyashree, wife of Vinay Maithili and Choudhary Kumud, and Chandrakant Rai employees and Devdatta Kardale.
“Applicant is one of the directions of Wiranka Wealth Management Limited (WWML), which introduced various schemes.
At a promise of high refund and allegedly deceived 4,000 investors for the RS230 Crores,” said the Judge said he said Vinay had been guaranteed by the Supreme Court and HC in here, while the Directors of Bhagyshree and Mithila have come out with a guarantee.
Citing similar circumstances in the case of Chaudhari, Chauhan demanded a guarantee for him, because he was behind bars for a long time 500 crores with more than 5,000 depositors falling crowded money easily.