LC Fraud
India Conducts Raids in USD 6.7 Billion LC Fraud Case
India’s Enforcement Directorate government agency has conducted a fresh set of searches against promoters and entities connected to Bhushan Steel Limited (BSL) as part of a money laundering probe related to an alleged INR 56,000 crore (USD 6.7 billion) bank fraud case.
Investigations Expand into Vesttoo LC Fraud Allegations
The US Federal Bureau of Investigation’s (FBI) has reportedly begun its own probe into allegedly fraudulent letters of credit
Three Sentenced to Prison in Standby LC Scam
Roy Johannes Gillar of Las Vegas, Harold Mignott of Voorhees, New Jersey, and Jerrid Douglas, of Freehold, New Jersey received prison sentences of six years, three years, and 45 months respectively, for their actions in a USD 1 million “upfront-fee” scheme which defrauded victims.
Manatee County (Florida) Defrauded of USD 1.4 Million
A Georgia (USA) man was arrested by detectives of the Manatee County (Florida) Sheriff’s Office and charged with Scheme to Defraud and Money Laundering and detectives have issued an arrest warrant for another Georgia man on charges of Scheme to Defraud and Conspiracy.
