India, Dec. 23 -- A sessions court has rejected the anticipatory bail plea of a 22-year-old accused in a cyber investment fraud case, holding that prima facie material showed his bank account formed part of the "first layer" of the money trail and that custodial interrogation was necessary to uncover the wider conspiracy.

According to the police, a financial consultant, Dinesh Ramanlal Panchal, was added to a WhatsApp group titled "J103 Premier Tutorials", where tips and tricks for making profits through investments in the share market were shared. On seeing that several members of the group were making huge profits, Panchal invested a total of Rs.74.35 lakh through a mobile application in August, as directed by the frauds. The app refle...