Close X
Friday, November 29, 2024
ADVT 
National

Three Indian Americans Charged With $2.5-Million Bank Fraud And Money Laundering

The Canadian Press, 07 Aug, 2015 11:33 AM
    US authorities have charged three Indian Americans with a $2.5-million bank fraud and money laundering, media reports said.
     
    Binder Tal (33), Baldev Tal (32) and Shariful Mintu (36) were alleged to have fraudulently obtained loans and lines of credit from banks, credit unions and other lending institutions by providing false information to the lenders about their assets, the official website of the United States department of justice said.
     
    Baldev Tal was arrested in Orefield, Pennsylvania while Mintu was arrested in Orange County, New York. Binder Tal remains at large.
     
    "For years, banks, credit unions, and small businesses have lost millions of dollars because of the fraud allegedly perpetrated by the defendants in this case," said Preet Bharara, the US Attorney for the southern district of New York.
     
    Through their scheme, the three fraudulently obtained over $2.5 million.
     
    If convicted, the trio may get a maximum sentence of 30 years in prison on the charge of conspiring to commit bank fraud and a maximum sentence of 20 years on the charge of conspiring to commit money laundering.

    MORE National ARTICLES

    Cairo Court Postpones Verdict For Canadian Journalist Mohamed Fahmy

    Mohamed Fahmy's legal saga was drawn out further on Thursday as an Egyptian court abruptly postponed a much-anticipated verdict in his widely denounced terror trial.

    Cairo Court Postpones Verdict For Canadian Journalist Mohamed Fahmy

    Harper Government Hopes TPP Deal Is Signed Before Election Campaign Kickoff

    Harper Government Hopes TPP Deal Is Signed Before Election Campaign Kickoff
    OTTAWA — The Conservatives are anxiously hoping to sign off on a massive free-trade deal before kicking off an election campaign that's expected to start as early as Sunday.

    Harper Government Hopes TPP Deal Is Signed Before Election Campaign Kickoff

    Political Parties Prepare For Lengthy Election Campaign Ahead Of Oct. 19 Vote

    Political Parties Prepare For Lengthy Election Campaign Ahead Of Oct. 19 Vote
    OTTAWA — Canada's federal political parties are actively carving out their final plans for the Oct. 19 election campaign, which is expected to get underway this weekend.

    Political Parties Prepare For Lengthy Election Campaign Ahead Of Oct. 19 Vote

    Anti-ISIL meeting with international officials to be held today in Quebec City

    Anti-ISIL meeting with international officials to be held today in Quebec City
    QUEBEC — High-ranking officials from some 20 countries will be in Quebec City today to discuss various aspects of the fight against Islamic State militants.

    Anti-ISIL meeting with international officials to be held today in Quebec City

    NDP Leader Tom Mulcair visits region key to party's hopes of forming government

    NDP Leader Tom Mulcair visits region key to party's hopes of forming government
    Mulcair toured a major agricultural fair in the Monteregie town of Saint-Hyacinthe, Que., on Wednesday, feeding goats and shaking hands a few days before Prime Minister Stephen Harper is expected to trigger an early election campaign.

    NDP Leader Tom Mulcair visits region key to party's hopes of forming government

    Federal Government Announces Funding For Long-awaited Iqaluit Port

    IQALUIT, Nunavut — The federal government has announced funding for a long-awaited small-craft harbour in Iqaluit.

    Federal Government Announces Funding For Long-awaited Iqaluit Port