Chief Metropolitan Magistrate Ajay Pandey had Saturday dismissed the bail application of Ulhas Prabhakar and Raksha J. Urs observing that 14,000 complaints are filed against them, said the prosecuting lawyer.
The court however expressed sympathy towards Urs, who is mother of three minor daughters saying that the children were being deprived of love and affection.
The prosecution had opposed the bail plea of both of the accused saying that it will send a wrong signal to society.
Prabhakar, and Urs were arrested by the Economic Offences Wing (EoW) of Delhi Police Nov 10, 2012, from Maharashtra’s Ratnagiri. They are accused of duping several investors across seven states of nearly Rs.500 crore by promising them high returns through their firm Stock Guru India.
The duo had posed as doctors, investors, businessmen and ran several fraudulent firms to dupe people, police said.