The Judicial First class magistrate at Horsdurg court has rejected the bail plea of Manjeshwaram MLA MC Kamaruddin over the charges of jewellery deposit scam. The government informed court that MLA has misused his political influence in collecting money from the investors. Almost 85 complaints were filed in connection with the scam. No share certificate was issued to the investors who invested money in the company. Kamaruddin has not informed any matter related to the company after 2017 to the registrar. Money was collected from the investors till June 2019 after the closing down of the company. Court observed that the jewellery owners had conspired with the intention to cheat the investors. Considering all these arguments, the court rejected the bail plea of M C Kamaruddin in the 3 cases charged against him. MLA was booked for swindling over Rs 150 crore from around 800 investors. A special investigation team led by ASP Vivek Kumar is probing the case.