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India seizes $2.7bn of heroin from Afghanistan at port

Nearly three tonnes of heroin with a street value of $2.7bn (£2bn) from Afghanistan have been seized from a western Indian port in a major bust, officials said. Two Indians were arrested after the heroin, which was kept in two containers… Read More

Amazon Vows ‘Zero Tolerance’ for Graft After India Probe Report

Amazon.com Inc. stressed it has zero tolerance for graft and will investigate all allegations of corruption fully, responding to a report by an Indian news outlet that the U.S. e-commerce giant has begun an internal investigation into claims of bribery. The U.S. company started a probe into its legal representatives’… Read More

Harsh Mander: Outcry as Indian authorities search activist’s premises

India’s Enforcement Directorate, a government agency that fights financial crime, searched Harsh Mander’s premises on Thursday. Officials said they were investigating a money laundering case against him. Read more at BBC Photo: Adam Jones from Kelowna, BC, Canada [CC BY-SA 2.0], via Wikimedia Commons RiskScreen:… Read More
2nd September 2021
India’s Enforcement Directorate (ED) questioned leading Telugu film director Puri Jagannadh for nearly 10 hours on Tuesday in connection with a money-laundering probe linked to a four-year-old drug case. Jagannadh, who, along with his chartered accountant, appeared before ED officials after he was summoned in connection with the probe, left… Read More
2nd September 2021
The top U.S. securities regulator on Wednesday sued the founder of the now-defunct cryptocurrency exchange platform BitConnect over his alleged role in fraudulently raising about $2 billion from retail investors. Expanding a civil case announced in May, the U.S. Securities and Exchange Commission charged BitConnect founder Satish Kumbhani, an Indian… Read More
16th August 2021
The Taliban once again control Afghanistan, which means they also control the world’s premier source of opium. The Rand Corporation recently asked “What might happen to Afghanistan if demand for its opiates dropped off sharply and permanently” because illegally manufactured fentanyl displaces heroin? Rand argues the market… Read More
16th August 2021
The Commonwealth Bank will offshore technology, compliance and service roles to India starting early next year, sparking anger from the finance union who say more than 100 local jobs will be lost during the pandemic. CBA opened its Bangalore office in 2019 and executive Simon Birch informed staff last month… Read More
12th August 2021
The Supreme Court of India has taken several drastic measures to tackle the anomaly at the heart of Indian politics, namely, that far too many people entrusted with making laws – MPs – are law breakers themselves. The seemingly inexorable criminalisation of Indian politics has disturbed the… Read More
10th August 2021
A celebrity jeweller known as the Diamond King who claims to have “recurrent depressive disorder” has won the right to appeal against extradition to India where he is wanted in connection with an alleged £729 million bank fraud. Nirav Modi once had an estimated personal wealth of £1.3 billion through… Read More
10th August 2021
An accountant and his brother have been charged with theft and money laundering after almost €1.2m in fictitious expenses was “syphoned” from a financial services firm in Dublin. Vipul Dhoot (35) with an address at Hallwell Place, Lucan, Co Dublin was charged with 10 counts of stealing various sums totalling… Read More
4th August 2021
The Enforcement Directorate (ED) has arrested Avantha Group promoter Gautam Thapar in connection with a money laundering case, officials said on Wednesday. The agency arrested Thapar on late Tuesday after day-long questioning in connection with the alleged property transaction between Avantha Realty and YES Bank’s co-founder Rana Kapoor and his… Read More
2nd August 2021
India’s anti-money laundering agency is examining if Binance Holdings Ltd. had a role to play in an ongoing investigation involving betting apps, according to people with knowledge of the matter. The Enforcement Directorate has summoned Binance executives for questioning and is awaiting a response, the people said, asking not… Read More
29th July 2021
Four Mauritius-based funds that have attracted attention for parking almost all their money in companies controlled by Indian billionaire Gautam Adani have a history of investing in firms which ended up defaulting or were investigated for wrongdoing. Before they put about 90% of their $6.9 billion under management in the… Read More