These People Involved In Biggest Scams In India; Looted Crores And Fled Away


This is called the biggest scam in India’s banking history, Punjab National Bank has been allegedly duped of Rs 11, 300 crores, which accounts to roughly 1.8 million USD and the main accused, diamond merchant Nirav Modi, has already left the country. Nirav Modi’s firm and along with others took money from other public and private sector banks including Allahabad bank and Axis bank on the basis of a fake Letter of Understandings, which was issued by PNB officials.The transactions had been going on for the last seven years, where officials are suspected to be hand in glove and it’s only now these dubious transactions came to light. Here is the list of financial fugitives and their cunning scams who have been out of India and the country hasn’t been able to arrest them to bring them before the law.


1. Nirav Modi

Nirav Modi

The accused of PNB scam, diamond merchant Nirav Modi has apparently fled to Switzerland. The firms of the diamond merchant and others have duped the banks and exchequer Rs 11, 300 crore which is one-third of the total earning of PNB which is the second largest public sector bank. Nirav, a regular feature on the lists of rich and famous Indians since 2013, is in blame, along with wife, brother, and business partner Choksi on January 31 for allegedly cheating the state-run Punjab National Bank to the tune of Rs 280 crore.


2. Vijay Mallya

Vijay Mallya

He is the most famous financial offender India has seen in recent times. The UB group honcho and owner of Kingfisher Airline is a fugitive and has to return over Rs 9,000 crore to various banks. India has been trying hard to extradite him for the last one year, but the UK government is not handing him over.


3. Lalit Modi

Lalit Modi

The former cricket administrator who ran the show of Indian Premier League (IPL) for the first three years, Lalit Modi was accused using his clout with politicians especially Rajasthan CM Vasundhara Raje for buying shares in various companies to get undue financial advantages. He is accused of money laundering under the garb of being a cricket administrator.Enforcement Directorate had levied many charges against Modi and since 2011, he has been living in the UK.


4. Sanjeev Chawla

Sanjeev Chawla

Sanjeev Kumar Chawla is the key accused in the match-fixing scandal that shook Indian cricket in the year 2000. Also, Chawla has been living in London ever since. However, the UK arrested by him at the request of Delhi Police. But he cited security concerns in India if at all UK extradites him to India. In addition, these scams came to light in April 2000 after Delhi Police got hold of the taped conversation. The conversation was between Hansie Cronje and Sanjeev Chawla.


5. Christian Michel

Christian Michel scams

Michel is the alleged middleman in the deal of Agusta-Westland choppers. He is in blame for siphoning off Rs 135 crore paid by Agusta for buying back discarded helicopters from Pawa Hans. But  ED claims that Pawan Hans didn’t sell any discarded copter to Michel’s company. This money is in use for greasing palms of politicians to grab the deal. The absconding British businessman is one of the three middlemen who allegedly has an involvement in these scams. They revolve around payment of bribes to secure an Indian contract for twelve AW-101 helicopters worth euro 556 million (currently Rs 4,195 crore). India seeks his extradition from England.

These scams have been the biggest in the Indian history till date! These people not only looted the money but also seized the daily bread of the poor farmers. They should be under the bars now. The search is on and hopefully, police will get hold of them soon! Read this article, A Security Guard Made Heroic Effort And Stopped A Robbery Of Rs 925 Crore!