Chennai High Court dismisses bail application of Sakthi Anandan, owner of MYV3ADS, in a fraud case involving 69 lakh people. The app promised earnings of ₹5 to ₹1500 for watching videos.
Coimbatore: The Chennai High Court has rejected the bail petition of Sakthi Anandan, the owner of MYV3ADS company, in connection with a massive fraud case. The decision was announced by Justice TV Tamilselvi on Friday (26.07.2024).
The case against MYV3ADS came to light when a complaint was filed with the Coimbatore Cyber Crime Police. The company allegedly defrauded customers by promising earnings ranging from ₹5 to ₹1500 for watching videos on their application. Subsequently, the case was transferred to the Economic Offences Wing in Chennai for further investigation.
Earlier, the court had ordered Sakthi Anandan to surrender before the Special Court for Financial Firm Frauds in Chennai. Complying with the order, Anandan surrendered before Judge Malar Valentina on July 5, 2024. Following this, he filed a bail petition in the Chennai High Court.
During the hearing, the police informed the court that approximately 69 lakh people had been affected by this fraudulent scheme. Considering the magnitude of the crime and its impact on a large number of victims, Justice TV Tamilselvi dismissed Anandan's bail petition.
The case against MYV3ADS came to light when a complaint was filed with the Coimbatore Cyber Crime Police. The company allegedly defrauded customers by promising earnings ranging from ₹5 to ₹1500 for watching videos on their application. Subsequently, the case was transferred to the Economic Offences Wing in Chennai for further investigation.
Earlier, the court had ordered Sakthi Anandan to surrender before the Special Court for Financial Firm Frauds in Chennai. Complying with the order, Anandan surrendered before Judge Malar Valentina on July 5, 2024. Following this, he filed a bail petition in the Chennai High Court.
During the hearing, the police informed the court that approximately 69 lakh people had been affected by this fraudulent scheme. Considering the magnitude of the crime and its impact on a large number of victims, Justice TV Tamilselvi dismissed Anandan's bail petition.