Expenditure observer appointed for Udupi-Ckm by-poll

Newsroom, Apr 30: Beleaguered billionaire B R Shetty, who went into hiding after after a multi-billion fraud at UAE-based NMC Health came to light, has now put the blame on his companies employees.

The former chairman of the Abu Dhabi headquartered hospital operator said, investigations he commissioned found following things:

1. The fraudulent creation and operating of bank accounts in my name including many fraudulent transfers that I neither authorised, consented to, or had any knowledge of.

2. The fraudulent creation of loans, personal guarantees, cheques and bank transfers in my name, and using my forged signature, that I neither authorised, consented to, or had any knowledge of.

3. The creation and set-up of companies in my name that I neither authorised, consented to, or had any knowledge of, and that were seemingly created with the express intention to commit or conceal fraud.

4. The fraudulent creation of powers of attorney, and the misuse of existing powers of attorney, again in my name, that I that I neither authorised, consented to, or had any knowledge of.

5. The creation and provision to me of false and misleading financial statements and information regarding the performance of some of my private companies and investments by members of my own management team.

6. The payments of expenses using my private companies and personal bank accounts, I believe to hide the true financials of the public companies."

This is the first time Dr. Shetty, who is reportedly hiding in India for the last couple of months, issued a statement based on investigations he commissioned privately. He had brought in a consultancy to conduct it after initial revelations came to light that NMC Health had not been fully transparent with its finances.

Dr. Shetty had stepped down as executive chairman after the then Board of Directors barred him from attending any meetings. “I intend to work tirelessly to clear my name and assist any authorities in getting to the truth and help them ensure that misappropriated or missing funds are returned by the perpetrators to their rightful owners,” said Dr. Shetty.

This month, ADCB, which has the highest exposure among UAE banks to NMC Health, brought charges against five former officials, including ex-board of directors, with Abu Dhabi prosecution. The former CEOs of NMC Health and Finablr are also currently not in the UAE.

Bengaluru, May 27: A 69-year-old woman from Yadgiri became the 45th COVID-19 related fatality in Karnataka, where 122 fresh cases have been reported, taking the total number of infections in the state to 2,405, the health department said on Wednesday.

With 45 deaths and 762 discharges, there are 1,596 active coronavirus cases in the state, the department said in its mid-day bulletin. It said, the deceased woman, a returnee from Maharashtra was brought dead to designated hospital in Yadgiri on May 20 and tested positive for COVID-19.

Fourteen patients have been discharged in the state so far on Wednesday. Of the 122 new cases, 108 are returnees from neighboring Maharashtra, three from Tamil Nadu, and one each from Uttar Pradesh, Gujarat, Madhya Pradesh, Kerala and Delhi. While two are returnees from foreign countries- one each from UAE and Nepal.

Remaining four cases are contact of patients earlier tested positive.

Among the districts where new cases were reported, Kalaburagi accounted for 28, Yadgiri 16, Hassan 15, Bidar 13, Dakshina Kannada 11, Udupi 9, Bengaluru Urban 6, five each from Uttara Kannada and Raichur, Belagavi 4, Chikkamagaluru 3, two each from Bengaluru Rural and Vijayapura, and one each from Ballari, Mandya and Tumakuru.