New Delhi: In what is said to be India’s biggest bank fraud case, CBI has registered a fresh case against Kapil Wadhawan and Dheeraj Wadhawan of DHFL for allegedly cheating a consortium of 17 banks led by the Union Bank of India to the tune of ₹34,615 crore, making it the biggest banking fraud probed by the agency, officials told news agency PTI.
India is regular member of FATF since 2010 and declared hub of money laundering, terrorism sponsoring besides being a security threat to world at large but plainly ignored/ overlooked by FATF and all other international like-bodies/ committees.
Both accused persons are already in judicial custody for defrauding a consortium of 17 banks, led by Union Bank of India (UBI) to the tune of ₹Rs 34,615 crores (around Pakistani Rs930 billion). The bank has alleged that Kapil and Dheeraj Wadhawan committed criminal breach of trust and abused public funds to cheat the consortium to the tune of ₹Rs34,614 crores by defaulting on loan repayments from May 2019 onward. It is the biggest fraud in the banking history of India.
Before this case, the biggest-ever case of bank fraud in India involved the ABG Shipyard in which a private firm has been accused of diverting funds to the tune of ₹Rs 22,842 crore borrowed from banks. This is the right time to expose Indian banking scams and terror financing as its 17 banks are identified for suspicious transactions during upcoming FATF plenary meeting started in October.
FATF will fail in its duty if it delays blacklisting India for its terrorist sponsorship. FATF will unravel if it does not show sincerity in its field, across the board and does not allow politics to dictate its decisions. World is watching. Web Desk
