Wednesday, October 28, 2020

Modi govt’s officials involved in biggest money laundering scam, claims Congress

-

India’s main opposition Congress party on Tuesday revealed that  Modi-led government officials and BJP leaders were involved in a money laundering scam that exchanged demonetised currency notes past the deadline set by the Reserve Bank of India (RBI) for commission.

During a press conference at the Congress headquarters, former Indian law minister Kapil Sibal,  played out a video clip of a sting operation in which, he claimed, a government official said BJP’s top leadership was involved.

The official, reportedly identified as one Rahul Ratharekar from the government’s intelligence agency, claimed to an undercover reporter that officials from 26 departments were involved in the money exchange operation.

According to Indian media, the video was shot at a Mumbai hotel in July last year. RBI’s deadline to exchange old currency expired on December 31, 2016.

- Advertisement -

A media outlet, citing  Sibal, reported that the Indian intelligence agency official said currency notes worth thousands of crores were printed abroad and transported into India by special aircraft.

According to report, a team of government officials drawn from different departments were engaged in the exchange of old notes for new post demonetisation.

Another video clip showed the official of a private bank carrying out the exchange of old currency for new ones.

- Advertisement -
- Advertisement -

MUST READ

Beam Suntory Inc. fined $19.6 million in foreign bribery case

Beam Suntory Inc. (Beam), a Chicago-based company that produces and sells distilled beverages, has agreed to pay a criminal monetary penalty of $19,572,885 to...

Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Beam Suntory Inc. fined $19.6 million in foreign bribery case

Beam Suntory Inc. (Beam), a Chicago-based company that produces and sells distilled beverages, has agreed to pay a criminal monetary penalty of $19,572,885 to...

Greek ex-minister Tsochadzopoulos, wife sentenced for money laundering

Former minister Akis Tsochadzopoulos, his wife and his cousin were found guilty of money laundering by a criminal appeals court on Tuesday. Each was served...

Actress Felicity Huffman complete full sentence for role in college admissions scam

Felicity Huffman has completed her full sentence for her involvement in the college admissions scandal. As of Sunday, she has finished her sentence, which included jail...

Two U.S. Navy service members get prison for defrauding military insurance program

Two U.S. Navy service members were sentenced in San Diego federal court Friday for their roles in an insurance fraud scheme that involved making false medical claims to...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks