India, Feb. 3 -- Delhi High Court on Monday denied anticipatory bail to two chartered accountants (CAs) who allegedly arranged mule bank accounts to launder proceeds of crime in a Rs.640-crore cyber fraud, observing that the case revealed an intricate web of money movement fraudulently siphoned from gullible middle-class investors.

"The present cases exhibit a vast intricate mesh of movement of money, fraudulently extracted out of the pocket of gullible investors, who appear to be primarily belonging to the middle class. It is the hard-earned money of the victims, whose only fault was that they wanted their money to multiply through investments, and this basic desire (or call it human weakness) of theirs was exploited by some fraudsters,...