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Commonwealth Games Scam

Commonwealth Games is an international meet of sports in which a number of events are held. Initially, it was known as the British Empire Games but later the name was changed and it is held in every 4 years. 
Crown Logo Showing Symbol of the British Commonwealth
British Commonwealth Games
This means that the next Commonwealth Games will be held in 2022. Athletes from the Commonwealth of Nations can participate in it. In the year 2010, it was held in India and though the nation was able to put up a spectacular show before the globe, it definitely held its head in shame internally because of the scam that followed the grand affair.
Games Resources for Commonwealth Game

Commonwealth Games shook everyone

 The President that time was Pratibha Patil while Congress was the ruling party. It is no secret that there have been a number of scams when the Congress was ruling the nation, however, the massive amount involved in the Commonwealth Games shook everyone. It totally changed the thought that India is a poor country.

It is reported that the expenditure to organize the magnificent show at Delhi was nothing less than INR 70,000 crores. There were a number of people involved behind the success and months of planning had been put in. but, here is exactly where the catch it.
 
Commonwealth Games Scam Written on Games Logi
Representing Commonwealth Games Scam
It is said that it is absolutely not true that the government actually spent so much. It is said that the officials of the government actually lied and created fake documents. There are accusations that a number of people in high posts and positions misused their power and actually presented tampered records of the expenditure done. They filled their pockets at the cost of the public. The bills and prices shown were definitely inflated. In fact, it has been investigated and actually found that just 50% of the stated amount was actually spent.

Coomonwealth Nations Games and Nation's Money Gone

The nation then wishes to know that what happened to their hard-earned money. This is because it is the taxes paid by the common man that was spent on just pomp and show. 
Global Commonwealth Games Info
The nation still demands to know that if so much can be spent on games and just to maintain the reputation of a nation on an international scale, then why can the government not take any necessary steps and utilize this money to provide education to the masses and start industries on their own so that the mass scale problem of unemployment in India can be fought back without any issues.


The CommonWealth Scam of India

In fact, this is not it. The Commonwealth scam of India has also received international news space. This was because though the officials had been careful enough to spend on the fireworks and the lights, they had miserably failed in providing adequate facilities to the sports persons.

Conclusion

In fact, the same has been the complain of India players and sportsmen who are in a field other than cricket. Since news is timely, media soon moved their focus on to other news that came up. However, the masses have not forgotten this betrayal and are not likely to let go of it either. On the contrary, Suresh Kalmadi, one of the chief suspects for the scam, was appointed as the life president of Indian Olympic Association in 2016.


Ponzi Scam

 Tags: Commonwealth, British Commonwealth, Commonwealth Games, British Empire Games, Games Scam, CG Scam, Commonwealth Games Scam


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Rotomac’s Consortium: Writing its way into the scam book with bank fraud!

 
Officer holding Rotomac Pen
Rotomac
The Central Bureau of Investigation (CBI) in India, once booked  a businessman and his family. They are based in Kanpur. The other members of his family who have been charged are his wife and his son. The amount for which they have been charged is a staggering amount that is nothing less than INR 3,695 crore. It has been reported by the media that the loan amount taken by the family was advanced by a consortium of seven banks. The recipient of this loan goes by the name of Rotomac Global Pvt Limited. This is obviously the company that is owned by the Kanpur based businessman.
Showing Fraud Symbol for Frauds in India
Bank Fraud in India

PNB involvement in Rotomac Scam

Now, this is definitely not the first time that such a scam has taken place in India. While some of the other shocking cases that have surfaced in the nation are that of Vijay Mallya and several other instances that involve top Indian politicians and bureaucrats, the latest one was the PNB scam that was related to Nirav Modi. I’m sure that you must know about it. However, for those who have been living under a rock and are aware of what had transpired, keep reading ahead. To explain it to you in short, Nirav Modi and his allies had taken loans from the Punjab National Bank (PNB) which is a public sector bank operating in the nation.

When they approached the bank again, they were asked for guarantee. However, they said that they had not needed to present any guarantee earlier either. This raised suspicion and it was noticed by a new employee of the bank that the official records had no mention of such a deal. That is when the matter was reported to the CBI and other officials from the banks were caught hold of who has allegedly transferred money without any legal procedure.

Though the matter came to light, by the time the citizens of the nation came to know about it, Nirav Modi had already left the country and fled. He is a billionaire and a jewellery designer who was mainly involved in this scam with his uncle, MehulChoksi. At present he is living overseas and action has also been tried to take but the masses still have innumerable unanswered questions.
 
Symbol of Scam Alert
Scam is no Alert in India, its Routine. Need to Curb Bank Corruption that made Entire India Corrupt
Following the Nirav Modi case is this one. According to investigation and reports, Rotomac Global Pvt Limited is the company that had taken loans of INR 2,919 crore, starting from the year 2008. This was done by a consortium of banks that were headed by the Bank of India. However, this amount later went on to become INR 3,695 crores. This definitely included the interest that had to be paid on the sum taken as loan. If you are wondering how it is possible for the interest to be so high, then you must understand that there were repeated defaults on paying back the loan. This is exactly what has been explained by the officials.

The Banks Involved in Rotomac Scam

It must be noted here itself that a total of 7 banks have been involved the case. Read ahead to find a list of the names of the banks:
  ·      Bank of India
  ·      Bank of Baroda
  ·      Overseas Bank of India
  ·      Union Bank of India
  ·      Allahabad Bank
  ·      Bank of Maharashtra
  ·      Oriental Bank of Commerce

Keep reading to find a list of the loan that had been taken: (bank wise amounts)
 ·      Bank of India: INR 754.77 crore
 ·      Bank of Baroda: INR 456.63 crore
 ·      Overseas Bank of India: INR 771.07 crore
 ·      Union Bank of India: INR 458.95
 ·      Allahabad Bank: INR 330.68 crore
 ·      Bank of Maharashtra: INR 49.82 crore
 ·      Oriental Bank of Commerce: INR 97.47 crore

According to allegations put forward by the Bank of Baroda, the loans to the company were being extended from the year 2008. Now, you must also note that the Bank of Baroda was the first bank to officially come forward and make the complaint regarding the Kanpur based businessman, Vikram Kothari, his wife Sadhana Kothari, and his son, Rahul Kothari. Also, the Bank of Baroda has not spared its employees either. This implies that unidentified officials working for the ban have also been included in the complaint because the bank too realizes that such a scam of a large scale and this big an amount is not possible without the aid of internal workers.
 
Picture Showing Secure Locks as Security Symbols
Loose Security in India Hence Only Scams, need to Beef up Security by Corrupt Bank Babus Prosecution
Three locations have been investigated so far. The aim is to find as many details as possible regarding the trio as well as their work. More details are likely to help the investigating team further. Also, it cannot be ascertained already that no other scam has been committed by the family. This is why rapid probe into the matter has been going on. This is the sole reason why the residence of the family as well as the office premises have been studied intensively so far. The three have been cross questioned by the CBI who is hell bent on reaching the core of the matter. This is why several sessions of inquiry have taken place and more such sessions are likely to follow. It is actually commendable at this point that unlike other offenders, this trio has not yet fled from the country to reside overseas and establish their name abroad.
 
Central Bureau of Investigation, India sign board
CBI Sign Board

The Stand of CBI in this Fraud

The spokesperson of CBI, Abhishek Dayal stated publicly that the total sum of the loan is INR 3,695 crores. In order to speed the process of recovery of this huge amount the home and the office premises of the Kotharis has been sealed and taken away. This means that they no longer have access to it and it not belongs to the bank since they failed to repay their loan.it is said that they actually managed to take so much loan because they stated false reasons and once they got hold of the money, they used it for different purpose other than the one stated.


Conclusion

Last but not the least, the trio has also been charged under the violation of Foreign Exchange Management Act, involvement of shell companies as well as the criminal breach of trust. 




 NB Review based on overall media information


 See also:
CoalGate Scam
Pubjab National Bank Scam
 




Tags: CoalGate, Coal Gate, Scam, Scams in India, Rotomac Scam

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AgustaWestland Scam - ChopperGate

First, you must understand the overview of the scam before jumping into the details. This you will help you to get a brief idea so that you can follow the pattern and chain of events more easily. What had happened actually was that in the year 2010, the Indian subcontinent had signed a deal to buy 12 AgustaWestland AW101 helicopters in the month of February that year. This was done so that the Communication Squadron of the Indian air force could easily transfer the then President, the then Prime Minister and other Very Important Persons. However, this incident came to light after 3 years in 2013.

The scandal over this contract became highlighted on 12th February in 2013 when the CEO of Finmeccanica was arrested. His name was Giuseppe Orsi. For those who are wondering how the two companies are related, you must know that Finmeccanica is the parent company of AgustaWestland from the end of the Italian authorities.

The very next day, the defense minister of the country at that time, A.K Antony order an investigation into the deal and the matter overall.
 
AugustaWestland Scam Defense Helicopter Photo
Representing: AugustaWestland Scam

Details of theAgustaWestland chopper scam

Let’s begin with the year 2013 when this matter gained importance and came before the masses of the nation. Early in that year, a national level probe began regarding the deal that had been signed with AgustaWestland. There were reportedly innumerable allegations of corruption against a number of senior officials of the Indian government as well as the AgustaWestland company.

The main point here was a contract between the two regarding the purchase of a fleet of new helicopters for the then President, the then Prime Minister and other Very Important Persons.

Now, you might be wondering why it’s referred to as a chopper scam. Well, the answer to that is the fact that smaller helicopters are referred to as choppers. This is the reason why this matter has also been referred to as the Chopper Scam of India or the Choppergate. 
Central Bureau of Investigation's Sign Board
Investigation by CBI & Other Agencies
Next, the very first question that must come to your mind at this point is that how is there the involvement of corruption if we are simply paying for an item or product and purchasing it legally for the representatives of the country. Well, here’s the catch. It is reported that AgustaWestland did not just land itself the contract due to its excellence in services or precision in design.

Apparently, they had paid a bribe to a number of the Indian politicians and military men so that they get selected for this deal. In fact, the contract they finally sealed was of a massive amount of INR 36 billion (US $ 540 million). This contract stated that the world’s largest democracy, India would be paying the stated amount and purchase 12 AgustaWestland AW101 helicopters.

It would also be used to carry state officials who help high positions. Also, if reports and claims of the Italian prosecutors are to be believed, Ahmed Patel was the man who had received advantages due to the deal. Surely, the name rings a bell already. For all those who do not know or are unaware of the political scene of the nation, Ahmed Patel was the political secretary to the President of Congress party, Sonia Gandhi.


Ahmed Patel, M.K Narayan and M. VeerappaMoily to receive bribes

The fact why this can be said with such determination and assertiveness is that a note was presented before the Italian court which had names of people such as the then Prime Minister Manmohan Singh, the then President Pranab Mukherjee, and officials such as Ahmed Patel, M.K Narayan and M. VeerappaMoily to receive bribes. Also, the amount that needs to be paid to them is also stated. While some were to receive €6 million, some others were stated to receive €3 million or €8.4 million. 
Pic of former Indian Defense Minister AK Antony
former Indian Defense Minister AK Antony
On 25th March, 2013, the defense minister of the Indian subcontinent, A.K. Antony, was the one who confirmed before the media and the citizens of the nation that undoubtedly, corruption had taken place when it comes to the AgustaWestland chopper scam. He then went on to emphasise that the people of the country need not panic or get into a state of frenzy because the matter had been handed over to the CBI who were trying their best and leaving no stone unturned to investigate the case. By June, the next year, that is 2014, the government of India had been able to recover approximately half of the money that it had paid to AgustaWestland as part of their deal. 

On 8th April, 2016, the executive of AgustaWestland, Giuseppe Orsi was convicted for paying a bribe of €30 million to politicians, bureaucrats and air force officials of India. This decision was taken by the Milan Court of Appeal. It had in fact overturned a lower court verdict and this judgement came in the form of a declaration that was 225 pages long. Another fact that must be noted is that the sentence was for four years. 
Manmohan Singh & Narendra Modi's pic. Both PMs or Prime Ministers of India
Manmohan Singh & Narendra Modi

In the same year, on 9th December, CBI in India arrested the former chief of the Indian Air Force. His name was S.P Tyagi. In fact, not only him, but also his cousin, Sanjeev Tyagi and his lawyer, GautamKhaitan were taken into custody. The following year, in September 2017, a formal charge sheet was filed against 9 others who had been involved in the case and surfaced during investigation.

Final verdict with regard to AgustaWestland chopper scam

On 16th December, 2016, the Supreme Court of Cassazione asked for a retrial since it wished to dismiss the conviction sentence of 2016’s April. This retrial would however, still be in Milan. 
Finally, in 2018, that is this year, on 8th January, the third Court of Appeals of Milan let go of all the defendants in this case. This means that all the allegations and charges were acquitted the reason behind this was they felt there was lack of sufficient evidence against anyone. This was in effect for the Indian officials as well. 
Christian Michael's Pic who was Extradited to India in AugustaWestland Scam
Extradited Christian Michel

However, later now  Christian Michel has been extradited to India and legal proceedings are going on before India's central elections which many are viewing as act of vendetta by the BJP government against Congress political Party.


See also:





Tags: Indian Scammer Numbers Active 2019, Indian Scam, Indian Scams, Scams in India, Fraud in India, Scam Alert, Latest Scam, Latest Scams, Fraudulent Indians


NB Review based on Overall Media Information


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