DCW Scam Survey

Indian Agency Begins Return of Property to Choksi Fraud Victims

From 2014 to 2017, Indian businessman Mehul Choksi colluded with associates and bank officials to fraudulently obtain LCs and letters

“Proclaimed Offender” Accused of Forging LC Arrested

India’s Central Bureau of Investigation (CBI) has arrested a man declared a “proclaimed offender” by an Indian special court

Nigerian Airline Officials Indicted in US for Obstruction of Justice

Further to a story previously reported (Oct 2022 DCW 45), the CEO and founder of Nigerian airline Air Peace, has

SEC Charges Duo for Their Roles in Prime Bank Program

After US federal government agencies warned that “prime bank” instruments lacked legitimate use in the mid-1990s and the US Securities

Bangladesh Investigators: Insurer Embezzled Funds Linked to 25 LCs

Two officials from Asia Insurance, Bangladesh, were fined for embezzling BDT 22.7M via forged documents linked to TVS Auto.

Indian Firm Using LCs, Accused of Cheating Bank

India’s Central Bureau of Investigation (CBI) is looking into a complaint, alleging that a Mumbai-based civil construction firm and

Jail for Georgia Man Who Duped Florida County Using Phony Standby

Further to previous DCW reporting of a scam involving use of a bogus document labelled a standby letter of credit

Ghanaian Court Sees Red in Challenge of Charge Sheet

A man accused of willfully causing EUR 2.37 million in financial loss to Ghana by having letters of credit

Hin Leong Founder O.K. Lim Convicted on 3 Charges

Ninety-Six Year Old, Two Others Sentenced in 1995 Fraud Case in India

HK Company Director Jailed for Offering Bribe for Standby LC Acceptance

Brittingham Group Four Sentenced for USD18 Million LC Investment Scam