Corruption is like a disease that never ceases to exist in our economy. It lingers around like a centipede sucking on blood, only in our country, the prominent corporate leaders are busy sucking out all the money out of Indian Banks and fleeing away with it to abroad countries. There have been numerous scams where either the politicians or the CEOs of corporate giants have bamboozled the banks, government institutions into million dollar frauds and easily get away with the money of common people in their pockets. With recent revelations of the Nirav Modi scam, Vikram Kothari scam and our favorite Vijay Mallaya who very diligently flew away to London with a debt of more than 9000 crores on Indian banks, Indian citizens are raging with anger. To add a touch of humor to these critical events, Indian cartoonists reveal their subtle take on these issues as well, Here’s a list of all the fraudsters who fled the country in a hurry to huddle up all our money in their pockets with a humorous touch:
1. Vijay Mallya
The ‘king of good times’ fled the country and is currently hiding in London. In India, Mallya faces several cases. The biggest case against him is how his Kingfisher Airlines defaulted on loans to the tune of Rs 9,000 crore from the banks in India. In 2016, a consortium of banks headed by the SBI approached the Supreme Court to stop Mallya from going abroad. But the complaint came too late because by then Mallya had fled the country. As of now, India is trying to extradite him from the UK.
2. Nirav Modi
Nirav Modi is all the rage in 2018 who disappeared with all his family as soon he was declared as the scamster who fled away after bamboozling Punjab National Bank in fraud of 11,000 crore rupees. Modi managed to do this by procuring Letters of Undertakings from Punjab National Bank’s Brady House branch in Mumbai. Modi used these LoUs to obtain loans in foreign exchange without paying any margin money, as is the standard procedure. When the Punjab National Bank filed a criminal complaint against Nirav Modi for engaging in fraudulent transactions on January 29, it was discovered that Nirav Modi had already left India sometime before. Before the government agencies could take any serious action against him, he vanished out of sight. He is currently on the radar of Interpol and CBI who are busy tracking him down across the world.
3. Sanjay Bhandari
Another economic offender, Bhandari is known to be dealing with the arms trade. He fled the country after agencies started probing Delhi-based hawala cases in 2016. Investigators found an entry of Rs 16 crore on behalf of his company and raided the premises. They found emails linking him with Sonia Gandhi’s son-in-law Robert Vadra, which were denied by Vadra’s lawyers. Bhandari is involved in the purchase of trainer aircraft worth Rs 4,000 crore for the Indian Air Force.
4. Lalit Modi
The man who gave Indians their biggest obsessions combined in one format – the Indian Premier league – left the country in 2010. Lalit Modi is reported to be staying in London. The Enforcement Directorate has got a ‘blue corner’ Interpol notice against Modi for breaching the FEMA rules.
5: Jatin Mehta
In 2013, a consortium of Indian Banks was hit when the Winsome group led by Jatin Mehta failed to repay. The Punjab National Bank was hurt the most in the case. The bank lost Rs 1,800 in the credit extended to the Winsome House. Jatin Mehta and his wife are now citizens of the Federation of St Kitts and Nevis.
6. Vikram Kothari
Last but not the least, the owner of Rotomac Ballpoint pens is caught in a scam of 800 crore rupees as well. He is known to take loans from five major Indian Banks, and all of them have somehow compromised the law to provide him with the money. Since the past week, Kothari’s office in Kanpur’s City Centre has been locked, and he too is untraceable at present. Bank authorities are mulling auctioning to recover the amount.