Kochi IPL Owners Got the Bank Accounts in German, LGT Bank of Leichenstein HT exposed – Kochi IPL owners own and involved in Black Money

Kochi IPL Owners Got the Bank Accounts in German, LGT Bank of Leichenstein
HT exposed – Kochi IPL owners own and involved in Black Money

Friday the names of the people were known to Indians, Now HT has gone ahead and found out that, the owners of Kochi IPL team figure in the list of Indian account holders provided by the German authorities to the Indian government.


In this list of criminal black money account holder’s names comprises the owners of Kochi IPL franchisee -- Dilip, Arun and Harshad Ramnik Lal Mehta -- who are among the biggest diamond merchants in the world.

Mehta own the 12% share stake in Kochi IPL.
A Headlines Today investigation has revealed that the Mehta’s, who own 12 per cent stake in Kochi IPL, have secret accounts in LGT Bank of Leichenstein.

How these fraud transactions were done or happened?
As per HT investigation HT found out that Diamond firm Rosy Blue, in which the Mehta’s hold shares, was used to park funds abroad.
Shell companies controlled by secretive trusts in Guernsey were also used to siphon off funds.
Pine Trust and Beech Settlement used Deutsche Bank as trustees to illegally park money.

Headlines Today has uncovered LGT Bank documents which reveal that $1.5 lakh was transferred from Panamanian accounts to Gamble’s Prabodh Mehta.
Gembel is amongst the oldest and most trusted names in global diamond trade.

The Enforcement Directorate and the Reserve Bank of India (RBI) confirmed to Headlines Today that three trusts held by the Mehta’s were under scanner for money laundering and Foreign Exchange Management Act (FEMA) violations.

Nearly Euros 4.4 million used for estate planning was transferred to Leichenstein and the $1.2 billion dollar Rosy Blue headquarters in Antwerp paid no tax in 2009.

Reality Views by sm –
Saturday, February 05, 2011

Source - http://headlinestoday.intoday.in/

Suggested Reading
Reference –
Know the 16 names of Indians who kept their money in LGT Bank
http://realityviews.blogspot.com/2011/02/know-16-names-of-indians-who-kept-their.html