Showing posts with label Money laundering. Show all posts
Showing posts with label Money laundering. Show all posts

9 May 2017

Indian tycoon Vijay Mallya guilty of disobeying top court

In this June 3, 2010 file photo, United Breweries Group Chairman Vijay Mallya attends the Global Investors Meet organized by Karnataka state government in Bangalore, India. India’s top court on Tuesday, May 9, 2017, found wanted tycoon Mallya guilty of disobeying its order barring him from transferring $40 million to his children. Mallya, who fled to London last year, is wanted in India on charges of money laundering and bank demands that he pay back more than a billion dollars in loans extended to his now-defunct airline. India has been seeking his extradition over the charges, which Mallya denies.
India’s top court on Tuesday found wanted tycoon Vijay Mallya guilty of disobeying its order barring him from transferring $40 million to his children.

Mallya, who fled to London last year, is wanted in India on charges of money laundering and bank demands that he pay back more than a billion dollars in loans extended to his now-defunct airline. India has been seeking his extradition over the charges, which Mallya denies.