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NRI Worldwide > NRI Crime

UK NRI ‘tycoon’ guilty of defrauding investors of $20 million
Report dated 16/06/2014 @ 3:48 PM

UK NRI ‘tycoon’ guilty of defrauding investors of $20 million Former Kenya resident Ketan Somaia, 52, dubbed 'King Con' has been found guilty and convicted by the Old Bailey Court of nine counts of obtaining money by deception totalling $19.5 million from two separate wealthy investors. Somaia was acquitted of two counts of obtaining money by deception.

Somaia presided over the collapse of an African bank and is best known for his involvement in the Goldenberg affair, a corruption scandal that helped wreck Kenya's economy.

In a single year he was accused of extracting a total of $23 million from entrepreneur Murli Mirchandani after promising him stakes in his ventures. Somaia also defrauded London businessman, Dilip Shah of $339,310 and he fleeced one Surajit Sen for $2 million in 1997. Somaia lured his victims by claiming he had a personal fortune of $100 million and his companies were worth $500 million.

He also laid on all-expenses-paid trips to Africa and Dubai, where the visitors were accompanied by hired musicians, traveled in chauffeur driven cars and on a private jet and stayed at luxury hotels.

Somaia is due to be sentenced this month after a medical report.

NRI techie convicted of murdering wife, children in US
Report dated 14/06/2014 @ 6:56 PM

NRI techie convicted of murdering wife, children in US Lakshminivasa Nerusu, 46, a computer scientist, who was arrested in last year for the 2008 murders of his wife and two children in their suburban Detroit home, has been convicted of first degree murder by an Oakland Circuit Court.

During the trial Nerusu testified that he 'blacked out' and did not remember what happened on the day of the killings and must have been insane at the time.

According to prosecutors Nerusu fist stabbed his 37-year-old wife Jayalakshmi 59 times, then waited several hours for his children to come back from school when he slit the throat of his daughter Tejvasi age 14, and later slashed the throat of his son Siva age 12. Their bodies were found two weeks later. A day after the murders Nerusu fled to India but was arrested and extradited in 2103.

Under Michigan law Nerusu will receive a mandatory sentence of life in prison without parole. His sentencing is scheduled for July.

Rajat Gupta's bid to avoid jail denied by US Court
Report dated 13/06/2014 @ 11:31 AM

Rajat Gupta's bid to avoid jail denied by US Court Former Goldman Sachs director Rajat Gupta's attempt to remain free on bail and avoid jail till his appeal to rehear his conviction is decided has failed, after US Supreme Court judge Ruth Bader Ginsburg turned him down, and confirmed he will have to report to jail next week to begin his two-year sentence on insider trading charges.

Apart form the prison term Gupta has been ordered to pay a $5 million fine and another $6 million in restitution to Goldman Sachs.

Gupta was convicted in 2012 of passing confidential insider information to his friend and business associate Raj Rajaratnam. Harvard educated Gupta is one of the most high-profile Wall Street executives to be convicted for insider trading, charges that were brought against him by Manhattan federal prosecutor Preet Bharara.

A US district judge who presided over his trial will recommend that Gupta, 65, be assigned to a medium security prison near New York City.

Bahrain NRI restaurant worker jailed for killing Saudi national
Report dated 12/06/2014 @ 3:02 PM

Bahrain NRI restaurant worker jailed for killing Saudi national An NRI age 30, who worked at a restaurant in Bahrain has been given a two-year jail sentence for manslaughter of a Saudi Arabian customer.

The worker was arrested after he knocked down the customer who suffered severe blows to his head and died of a fractured skull two days later. The worker however, claimed he acted in self-defence as the customer first attacked him when he refused to set him up with women.

The Bahrain High Criminal Court found the worker guilty of manslaughter as the defendant had confessed to the charges, and his co-defendant who is his brother confirmed the incident took place. The brother who also works at the restaurant was acquitted.

US NRI couple arrested for health care fraud
Report dated 11/06/2014 @ 2:59 PM

US NRI couple arrested for health care fraud Nita Patel and Kirtish Patel, both 51, from Rockaway in New Jersey, have been arrested on charges of crafting doctors' reports and photocopying real physicians' signatures on documents.

The couple who own and operate Biosound Medical Services and Heart Solutions of Parsippany, and have been charged with one count of conspiracy to commit health care fraud.

The prosecution alleged that around half of the diagnostic reports generated by Biosound in the last 2 years had a photocopied signature form a reading physician when no physician had actually seen, reviewed or interpreted the results. Kirtish allegedly interpreted diagnostic results himself rather than pay compensation to a reading physician, and Nita would copy and paste a physician's signature on a diagnostic report that was drafted by an employee of Biosound and forwarded to a referring physician who would order the testing.

The couple were arrested from their residence in New Jersey and released on a $100,000 unsecured bond, with travel restricted to New Jersey, unless given prior approval by pretrial services. They have also been told to surrender their passports.

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