PNB-Modi scam: Bank GM held after of Vipul Ambani, 4 other top officials

Agencies
February 21, 2018

New Delhi, Feb 21: The Central Bureau of Investigation (CBI), on Wednesday, arrested a General Manager rank officer of state-run Punjab National Bank (PNB) in connection with the Rs 11,400 cr scam.

The CBI had earlier arrested Vipul Ambani and four other senior executives of Nirav Modi and Mehul Choksi companies, on Tuesday, in the alleged PNB fraud case that continued for six years.

Modi allegedly cheated the state-run bank by using fake “letters of understanding” (LoUs) to get loans. Most of the letters were sent to overseas offices of Indian banks, which sanctioned the actual loans, said Sunil Mehta, Punjab National Bank’s managing director.

The Press Trust of India reported that Modi sent a letter to the bank this week saying he owes less than half the amount claimed by the bank in connection with the alleged fraud.

Modi runs an international jewellery empire that reaches from India to New York, with a string of high-end brands. He and his family fled India weeks before the bank registered a criminal case with the CBI on January 31.

The CBI and other Indian investigative agencies searched dozens of offices and residences used by Modi and his business partners. The bank named Modi, his brother Nishal Modi, wife Ami Modi and uncle Mehul Chinubhai Choksi as suspects in its complaint.

In his letter to the bank, Modi said he owes about Rs 5,000 crore (USD 775 million). He said the Rs11,400 crore cited by the bank had resulted in a media frenzy that pressured authorities to quickly search and seize assets from his Firestar International and Firestar Diamond International companies.

“This thereby jeopardized our ability to discharge the dues of the group to the banks,” Modi said.

With media reporting that Modi and his family were hiding in New York or Dubai, the external affairs ministry said it has suspended the passports of Modi and his uncle Choksi for four weeks.

It said in a statement that if they fail to explain within seven days why their passports should not be cancelled, their travel documents will be revoked.

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Agencies
April 14,2020

Kochi, Apr 14: Reacting to the extension of the nationwide lockdown till May 3, Kerala Finance Minister Thomas Issac on Tuesday maintained that his state needs money more than appreciation for the work it has done to mitigate the impact of the lockdown and contain coronavirus spread.

"The only additional money that Kerala received is mere Rs 230 crore and that too for Covid-19 work. The funds we received to tide over revenue deficit is different -- we would have got it anyways," said Issac, who has been demanding more liberal financial assistance from the Centre.

"The need of the hour now is for the Centre to immediately hold a videoconference meeting with all state Finance Ministers. The Centre should borrow more money from the RBI and give it to the states. Otherise, things will be very bad, as the economy, especially rural economy, is tumbling. It needs to be checked," said the Kerala Minister.

Devasom and Tourism Minister Kadakampally Surendran said the state Cabinet will meet on Wednesday to decide how to go about things till May 3.

"The coronavirus figures reveal that Kerala has done quite well. The Cabinet will decide on how we move forward after looking into the guidelines of the Centre," said Surendran.

Local Self Government Minister A.C. Moideen said that local farm produce has to reach markets as rural economy revolves around this. The Cabinet will look into this issue as well.

Health Minister K.K. Shailaja stressed the need for maintaining social distancing and asked all to see that the lockdown guidelines were strictly followed.

"Our advantage is that we have been able to contain the spread, but we still have a long way to go. Singapore is the best example -- after a slowdown in positive cases, it picked up there. So, let us all continue to maintain strict vigil and wait till Wednesday's Cabinet meet," said Shailaja.

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News Network
June 24,2020

Kolkata, Jun 24: Trinamool Congress (TMC) MLA Tamonash Ghosh, who had tested positive for Covid-19 in May, died at a hospital here on Wednesday, party sources said.

He was 60.

The three-time MLA from the Falta assembly constituency in South 24 Parganas district was admitted to a hospital after he tested positive for the disease, they said.

He had several complications related to the heart and the kidney, the sources said.

"Very, very sad. Tamonash Ghosh, 3-time MLA from Falta & party treasurer since 1998 had to leave us today. Been with us for over 35 years, he was dedicated to the cause of the people & party. He contributed much through his social work," West Bengal Chief Minister and TMC supremo Mamata Banerjee tweeted.

"He has left a void that will be difficult to fill. On behalf of all of us, heartfelt condolences to his wife Jharna, his two daughters, friends and well-wishers," she added.

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News Network
June 27,2020

Jun 27: Alittle-known Indian IT firm offered its hacking services to help clients spy on more than 10,000 email accounts over a period of seven years.

New Delhi-based BellTroX InfoTech Services targeted government officials in Europe, gambling tycoons in the Bahamas, and well-known investors in the United States including private equity giant KKR and short seller Muddy Waters, according to three former employees, outside researchers, and a trail of online evidence.

Aspects of BellTroX's hacking spree aimed at American targets are currently under investigation by U.S. law enforcement, five people familiar with the matter told Reuters. The U.S. Department of Justice declined to comment.

Reuters does not know the identity of BellTroX's clients. In a telephone interview, the company's owner, Sumit Gupta, declined to disclose who had hired him and denied any wrongdoing.

Muddy Waters founder Carson Block said he was "disappointed, but not surprised, to learn that we were likely targeted for hacking by a client of BellTroX." KKR declined to comment.

Researchers at internet watchdog group Citizen Lab, who spent more than two years mapping out the infrastructure used by the hackers, released a report that BellTroX employees were behind the espionage campaign.

"This is one of the largest spy-for-hire operations ever exposed," said Citizen Lab researcher John Scott-Railton.

Although they receive a fraction of the attention devoted to state-sponsored espionage groups or headline-grabbing heists, "cyber mercenary" services are widely used, he said. "Our investigation found that no sector is immune."

A cache of data reviewed by Reuters provides insight into the operation, detailing tens of thousands of malicious messages designed to trick victims into giving up their passwords that were sent by BellTroX between 2013 and 2020. The data was supplied on condition of anonymity by online service providers used by the hackers after Reuters alerted the firms to unusual patterns of activity on their platforms.

The data is effectively a digital hit list showing who was targeted and when. Reuters validated the data by checking it against emails received by the targets.

On the list: judges in South Africa, politicians in Mexico, lawyers in France and environmental groups in the United States. These dozens of people, among the thousands targeted by BellTroX, did not respond to messages or declined comment.

Reuters was not able to establish how many of the hacking attempts were successful.

BellTroX's Gupta was charged in a 2015 hacking case in which two U.S. private investigators admitted to paying him to hack the accounts of marketing executives. Gupta was declared a fugitive in 2017, although the U.S. Justice Department declined to comment on the current status of the case or whether an extradition request had been issued.

Speaking by phone from his home in New Delhi, Gupta denied hacking and said he had never been contacted by law enforcement. He said he had only ever helped private investigators download messages from email inboxes after they provided him with login details.

"I didn't help them access anything, I just helped them with downloading the mails and they provided me all the details," he told Reuters. "I am not aware how they got these details but I was just helping them with the technical support."

Reuters could not determine why the private investigators might need Gupta to download emails. Gupta did not return follow-up messages. Spokesmen for Delhi police and India's foreign ministry did not respond to requests for comment.

HOROSCOPES AND PORNOGRAPHY

Operating from a small room above a shuttered tea stall in a west-Delhi retail complex, BellTroX bombarded its targets with tens of thousands of malicious emails, according to the data reviewed by Reuters. Some messages would imitate colleagues or relatives; others posed as Facebook login requests or graphic notifications to unsubscribe from pornography websites.

Fahmi Quadir's New York-based short selling firm Safkhet Capital was among 17 investment companies targeted by BellTroX between 2017 and 2019. She said she noticed a surge in suspicious emails in early 2018, shortly after she launched her fund.

Initially "it didn't seem necessarily malicious," Quadir said. "It was just horoscopes; then it escalated to pornography."

Eventually the hackers upped their game, sending her credible-sounding messages that looked like they came from her coworkers, other short sellers or members of her family. "They were even trying to emulate my sister," Quadir said, adding that she believes the attacks were unsuccessful.

U.S. advocacy groups were also repeatedly targeted. Among them were digital rights organizations Free Press and Fight for the Future, both of whom have lobbied for net neutrality. The groups said a small number of employee accounts were compromised, but the wider organizations' networks were untouched. The spying on those groups was detailed in a report by the Electronic Frontier Foundation in 2017, but has not been publicly tied to BellTroX until now.

Timothy Karr, a director at Free Press, said his organization "sees an uptick in breach attempts whenever we're engaged in heated and high-profile public policy debates." Evan Greer, deputy director of Fight for the Future, said: "When corporations and politicians can hire digital mercenaries to target civil society advocates, it undermines our democratic process."

While Reuters was not able to establish who hired BellTroX to carry out the hacking, two former employees said the company and others like it were usually contracted by private investigators on behalf of business rivals or political opponents.

Bart Santos of San Diego-based Bulldog Investigations was one of a dozen private detectives in the United States and Europe who told Reuters they had received unsolicited advertisements for hacking services out of India - including one from a person who described himself as a former BellTroX employee. The pitch offered to carry out "data penetration" and "email penetration."

Santos said he ignored those overtures, but could understand why some people didn't. "The Indian guys have a reputation for customer service," he said.

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