Quite recently, another case of a scam has surfaced the internet. It is being called the biggest scam in India’s banking history. These major scams of the country have looted millions and fled.
Punjab National Bank was earlier duped of millions of rupees. Moreover, there have also been several frauds conducted by political parties.
Here is taking a look at some of the major scams of the country.
Nirav Modi- major scam, fled the country
Earlier, Nirav was accused of the PNB scam. He is a diamond merchant who is said to have fled the country.
Moreover, the firm is accused of duping Rs. 11,300 crore. This is one third of total earning of PNB. PNB is the second largest public sector bank.
The scam was booked by CBI. Nirav, his wife, brother, and business partner have a warrant against them.
Vijay Mallya- major scams, looted country and fled
Mallya is till now the most famous financial offender. This major scam looted millions from the country.
Mallya, the owner of Kingfisher, has to return over Rs. 9000 crore to various banks.
Furthermore, India is trying to extradite him for a year now. Mallya has fled to the UK. However, the UK government is not handing him over.
Lalit Modi was a former cricket administrator. In addition, he ran the show of IPL for the first three years.
However, Lalit Modi was accused of collaborating with politicians for financial gain. He was convicted for buying shares in various companies. This was done through political connections.
Subsequently, this becomes a scam as it is for personal financial advantages.
Currently, Modi lives in the UK and is fighting several charges against him.
Michel is allegedly a middleman in a deal. He is accused of looting Rs. 135 crore.
This is because he has not yet returned the money which was given by Agusta to buy helicopters.
Michel is involved in gathering benefits through political connections. In addition, he is also accused of bribes.