ABSCONDING FRAUDSTER PRAMOD MITTAL TRACED TO LONDON

DNA reports that the Indian authorities have traced Pramod Kumar Mittal, who the agencies allege defrauded government-owned State Trading Corporation of India Limited (STC), to London.  Pramod is the younger brother of steel tycoon Lakshmi Mittal.  The CBI in India had registered a case against Mittal and 19 officers of STC in March 2017, alleging that Mittal’s company ‘Global Infrastructure Holdings (GIHL), registered in Isle of Man, now also known as Global Steel Holdings (GSHL) approached STC seeking assistance in terms of providing financing facility by establishing letters of credit for purchasing raw materials required for their newly-acquired steel plants in Philippines and Bosnia.

http://www.dnaindia.com/business/report-absconding-fraudster-pramod-mittal-traced-in-london-2591736?src=ilaw

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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