Five Indian men who duped from India after being named in massive loan frauds

Vijay Mallya

For the past few years, we have had many cases of those businessmen who fled the country after charges of financial irregularities and fraud. The central government is now leaving no stone unturned to extradite all those businessmen. But the main question is who are these businessmen who managed to flee from the country and will they come back to India or not?

Here’s a list top five businessmen, who managed to flee the country after making massive loan frauds and scams in recent years. Have a look:

Vijay Mallya

Liquor baron and Business tycoon Vijay Mallya left India on 2 March 2016 after defaulting on a loan amounting to Rs 9,000 crore to various banks. Vijay had taken a loan for his now-defunct Kingfisher Airlines. Vijay is living in the United Kingdom and the Indian government has declared him a fugitive. In connection with a money laundering case, Vijay is wanted by Enforcement Directorate (ED). Meanwhile, in April 2017 Vijay was arrested on an extradition warrant by Scotland Yard. In Indian history Mallya episode is described as the biggest fraud. It is still unclear whether Mallya will be returning to India or not.

Nirav Modi and Mehul Choksi

Gitanjali Gems owner Nirav Modi and his uncle Mehul Choksi a fugitive Indian businessman. Choksi and Modi have committed the offense of cheating against the Punjab National Bank (PNB) alleged over Rs 13,000 crore. According to CBI and ED Choksi is in Antigua and Barbuda. The 49-year-old Choksi is in London jail based on a legal request made by the ED and the Central Bureau of Investigation (CBI) in this case. Choksi was held by authorities there in 2019. Currently, Nirav Modi is lodged in a UK jail and fighting extradition from India.

Hitesh Narendra Bhai Patel

Businessman Hitesh Narendra Bhai Patel is wanted by the Enforcement Directorate and is accused in the Rs 8,100-crore bank loan fraud allegedly by Biotech group. Based on an Interpol notice issued against him by the ED Hitesh was detained in Albania. Hitesh is a US citizen and the Indian probe agencies are trying to extradite Hitesh.

Sanjay Bhandari

In July 2020 Sanjay Bhandari was arrested on an extradition warrant and later granted bail, is now contesting his extradition to India. Bhandari is wanted in India and is an accused arms dealer and “proclaimed offender” on money laundering charges. Reportedly, Bhandari is linked with Robert Vadra husband of Congress leader Priyanka Gandhi. Meanwhile, Vadra has denied any business connections with the accused.

Ashish Jobanputra and Priti Jobanputra

In 2017, a money laundering case was registered against Ashish Jobanputra and Priti Jobanputra’s firm ABC Cotspin. ABC Cotspin is an Ahmedabad-based textile import firm that was used to avail bill discounting facilities from two banks — State Bank of India (SBI) and Bank of Baroda (BoB) against LC. The ED is searching for both and is suspected to be in Los Angeles.