What Is The Rikeza Coin Case In Which Sonu Sood Faces Arrest?

The warrant was issued by Ludhiana judicial magistrate Ramanpreet Kaur after the actor did not appear in court to testify.

An arrest warrant was issued against Bollywood actor Sonu Sood by a Ludhiana court.

Source : PTI

The string of troubles doesn't seem to be ending for actor Sonu Sood anytime soon. After facing allegations of income tax evasion, FCRA violations, etc., Sonu Sood is now facing accusations of fraud in cryptocurrency.

What Is The Rikeza Coin Case?

A court in Punjab's Ludhiana has issued an arrest warrant against Bollywood actor Sonu Sood in connection with an alleged fraud case of Rs 10 lakh. The warrant was issued by Ludhiana judicial magistrate Ramanpreet Kaur after the actor did not appear in court to testify.

Rikeza is a decentralised peer-to-peer (P2P) open-source blockchain protocol that enables instant, near-zero cost processing of transactions to anyone in the world. Rikeza's website says that it is a "modern alternative to Bitcoin for mass adoption and aims to evolve as a foundation of a decentralized, global, digital crypto-based economic system with greater community participation". The price of converting 1 RIKEZA (RIK) to INR is ₹0.001235 today.

The Ludhiana court order read: "Sonu Sood, has been duly served with summon(s) or warrant(s) but he/she has failed to attend (absconds and keeps out of the way for the purpose of avoiding service of a summon(s) or warrant(s)). You are hereby ordered to arrest and bring the said Sonu Sood before the Court."

The case was filed by a Ludhiana-based lawyer Rajesh Khanna against one Mohit Shukla, alleging that he was lured to invest in fake Rikeza coin. As part of the complaint, Khanna summoned Sood to testify as a witness. However, despite several court summons, the actor did not appear to record his testimony.

Now an arrest warrant has been issued against him, which has been sent to Oshiwara Police Station, Andheri West, Mumbai, directing them to arrest the actor and present him before the Ludhiana court.