KASARGOD: The court has denied bail to M C Kamadruddin in jewellery fraud case. The Hosdurg Court rejected his bail plea.

The government had yesterday informed the high court that he attracted investors misusing his political influence and the fashion gold fraud case is similar to Popular finance fraud case. This was on the plea seeking cancellation of the case. He cheated investors without giving share certificate. He bought land in Bengaluru for eight crore. Almost 85 complaints have been obtained in connection with the scam.

However, the state argued that those who invested money in the company were not issued any share certificate. Nor are their names seen anywhere in the unsecured loans provided to the company.