Standard Chartered free to seek new assets in US$770 million gold and diamond fraud after judge restores UK-incorporated shell companies
Standard Chartered Bank has more chance of taking possession of assets attached to alleged Indian gold and diamond fraudster, Jatin Mehta, after a judge in the UK high court restored four suspected shell companies.
The bank was one of several foreign banks that lent money to the gold and diamond trader’s main company, Winsome Diamonds, against letters of credit (L/Cs) provided by Indian banks in what the UK judge described as a premeditated fraud orchestrated by Mehta.
You need to be logged in to view this article.
If you are an existing subscriber please enter your credentials to log in.
To become a member of The Association of Trade Finance Compliance Professionals (ATFCP)click here!
Tags In
Related Posts
Latest news
Trade Based Financial Crime
Trade Based Financial Crime
This online training course provides you with the technical knowledge required to succeed within the trade finance compliance landscape.