Quote from: marcbitcoins on September 11, 2018, 12:28:53 AM

Of course this is not good for economy at it will scared away the possible investors and depositors for the banks as fraud is one of the main causes of bankruptcy. The governments should improve their banking policies now to ensure that this fraud acts will not going to happen again.

Indian billionaire "Vijay Mallaya" scams banks of $1.4 billion

The extradition trial of Vijay Mallya, wanted in India on charges of Rs 9,000 crores fraud and money laundering, began on Monday at a UK court here, with the prosecution asserting that the embattled liquor baron had a case of fraud to answer. The trial, however, was briefly halted as the courtroom had to be evacuated due to a fire alarm. The 61-year-old tycoon and others waited outside the Westminster magistrates court during the fire drill. The trial began with the Crown Prosecution Service (CPS), arguing on behalf of the Indian government, presenting its opening arguments in the case which focused on loans totalling around Rs 2,000 crores sought by the erstwhile Kingfisher Airlines from a consortium of Indian banks.

https://www.businesstoday.in/current