Featured India

NMC founder sues EY, banks and execs for $8 bln over alleged fraud

B.R. Shetty, the founder of stricken UAE hospital operator NMC Health, has sued auditor EY, two former top executives of his companies and two banks in a U.S. court, seeking $8 billion in damages for an alleged multibillion-dollar fraud at his group. EY said in a statement: “We believe this… Read More

Dutch national of Indian origin held on money-laundering charge

The Enforcement Directorate on Saturday arrested Shivlal Pabbi, a Dutch national who allegedly ran ‘hawala’ operations in the garb of ready-made garments trade in the Netherlands. The accused got the proceeds of the crime laundered via some Pakistan nationals based in Dubai. Mr. Pabbi was allegedly trying to flee the… Read More

FATF review of India’s anti-money laundering postponed to 2022 due to Covid

An evaluation by global organisation Financial Action Task Force (FATF) to analyse the effectiveness of India’s anti-money laundering and countering terrorist financing regime has been postponed for the second time in view of the ongoing COVID-19 pandemic and is now slated to be initiated next year, officials said. The… Read More
16th July 2021
What links an Italian broker accused of extorting the Vatican, South African brothers accused of absconding with bitcoin worth more than $3bn from their investors and a disgraced Turkish banking mogul who served time for harbouring his nephew after a murder? They all recently became citizens of… Read More
13th July 2021
At the request of the Supreme Court, Brazil’s federal police has formally opened a probe into President Jair Bolsonaro related to alleged irregularities in the purchase of an Indian vaccine and could now question him, a source with knowledge of the matter said on Monday. The president has been caught… Read More
6th July 2021
The Ministry of Women and Child Development has invited suggestions from stakeholders on the draft of the Trafficking in Persons (Prevention, Care and Rehabilitation) Bill, 2021. The objective of the bill is to prevent and counter trafficking in persons, especially women and children, the Ministry said in a statement. It… Read More
1st July 2021
Brazilian President Jair Bolsonaro fired a health official on Wednesday after he reportedly asked for a bribe in a coronavirus vaccine deal, the latest graft accusation to rock the government and spark fresh calls for the president’s impeachment. With over half a million COVID-19 deaths, Brazilians are fuming over missed… Read More
1st July 2021
An Israeli private detective detained in New York since 2019 on charges of involvement in a hacker-for-hire scheme wants a plea deal, according to a letter filed in court by his lawyer. The unusual case has revealed the impacts of a secretive but thriving cyberespionage industry in India. Federal prosecutors… Read More
16th June 2021
The Enforcement Directorate (ED) has arrested former Maharashtra MLA Vivekanand S Patil in a money laundering case linked to an alleged fraud of over Rs 512 crore in a Panvel-located cooperative bank, officials said on Wednesday. They said Patil, 66, was arrested by the central probe… Read More
14th June 2021
India’s financial crime-fighting agency said on Friday that WazirX, one of the country’s largest cryptocurrency exchanges and its directors, were under investigation for suspected violation of foreign exchange regulations. The investigation comes at time when the Indian government is mulling whether to introduce a law that could ban cryptocurrencies. The… Read More
14th June 2021
Cybercrime officials with the Criminal Investigation Department on Saturday busted a ₹290 crore money-laundering scam linked to a hawala racket. Ten people — including two from China and two from Tibet — have been arrested. However, the kingpin and prime accused, Anas Ahmed, who hails from Kerala but resides in… Read More
9th June 2021
By Lindita Çela and Ushinor Majumdar, OCCRP, 8 June 2021 OCCRP — On a mild afternoon in March 2019, one of India’s most ostentatiously wealthy families prepared to board their private jet at Albania’s Tirana International Airport. The Sandesaras had been on the run since 2017, when… Read More
8th June 2021
Ashish Lata Ramgobin, the 56-year-old great-granddaughter of Mahatma Gandhi, has been jailed for seven years in a six-million rand (Rs 3.22 crore) fraud and forgery case. Mahatma Gandhi’s great-granddaughter was sentenced by a Durban court after she was found guilty in the fraud case. Ashish Lata Ramgobin was accused of… Read More