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'Bail can't be granted simply due to prolonged imprisonment'
The New Indian Express
|June 25, 2024
A special CBI court in Chennai has dismissed the bail petition of the alleged mastermind behind the 100 crore Chennai Port Trust scam being probed by the Enforcement Directorate, stating that bail cannot be issued in a money laundering case simply due to prolonged incarceration as an under-trial prisoner or chronic illness.
The court passed the order on June 15, on a bail petition moved by V Sudalaimuthu, identified by the ED as 'the mastermind and architect' of a 2020 scam where private persons had impersonated government officials to fraudulently move term deposits of the Chennai Port Trust (CPT) to private accounts.
Around 100 crore of such deposits were illegally moved and a loss of 45.4 crore was alleged. After an initial FIR filed by CBI, ED had initiated a probe under the Prevention of Money Laundering Act (PMLA) in March 2022 and arrested 11, including the petitioner.
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