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Mehta used the ready forward deal and applied it to the Bank Receipts system of the Indian financial systems. This system was the most flawed system as the Janakiraman Committee restructured the entire Bank Receipts system after the 1992 scam. [11] Mehta used forged BR's to gain unsecured loans, and used several small banks to issue BRs on demand.
Kathua rape case; Punjab National Bank Scam: A fraudulent letter of undertaking worth ₹11,600 crore (US$1.77 billion) was issued at the Punjab National Bank branch in Brady House, Mumbai, making the bank liable for the amount. [79] The fraudulent transactions, linked to Nirav Modi, were first noticed by a new employee of the bank. [80]
The Punjab National Bank Fraud Case relates to fraudulent letter of undertaking worth ₹12,000 crore (US$1.4 billion) issued by the Punjab National Bank at its Brady House branch in Fort, Mumbai; making Punjab National Bank liable for the amount. [1] The fraud was allegedly organized by jeweller and designer Nirav Modi.
A Kentucky man who fraudulently arranged for $4.4 million in loans has been sentenced to nine years and two months in prison. Wavy Curtis Shain, 42, of Nelson County pleaded guilty to fraud and ...
The feds have focused their COVID-19 loan fraud probe on BSO deputies and others in the agency. 17 Broward sheriff’s employees face charges of fleecing federal pandemic loan program Skip to main ...
N. R. Narayana Murthy was born on 20 August 1946 in Sidlaghatta, a city in India's south-western state of Karnataka [20] into a Kannada- speaking middle-class Brahmin family. [21] After completing his school education, he went to the National Institute of Engineering and graduated in 1967 with a bachelor's degree in electrical engineering .
Former Joel Greenberg associate gets prison term for COVID-19 loan fraud. Martin E. Comas, Orlando Sentinel. August 9, 2023 at 1:18 PM. ... In Other News. Entertainment. Entertainment. Variety.
The ICICI-Videocon loan scam is about a criminal conspiracy by Chanda Kochhar as Managing Director of ICICI Bank who abused her position by sanctioning a ₹ 3,250 crore (US$696.34 million) loan to Venugopal Dhoot's Videocon International Electronics Limited (VIEL) between June 2009 and October 2011 to cheat the bank in lieu of illegal gratification and undue benefit received in NuPower ...