Meet India's Latest Fugitive Fraudster Ramachandran Vishwanathan, Who Has Joined Mallya, Nirav Modi And 70 Others

Meet India's Latest Fugitive Fraudster Ramachandran Vishwanathan, Who Has Joined Mallya, Nirav Modi And 70 Others

Vishwanathan is one of nine accused of diverting 85 per cent of Rs 579 crore from Antrix Corporation, which is ISRO's commercial arm.

FPJ Web DeskUpdated: Saturday, June 10, 2023, 02:41 PM IST
article-image

Vijay Mallya, Mehul Choksi and Nirav Modi are just posterboys for the practice of siphoning off money and fleeing India, as 72 economic offenders have left the country since 2015. The list also includes fugitive Sandesara brothers thriving in Nigeria and Jatin Mehta, the father-in-law of Vinod Adani's son, being let off by a UK court.

India's latest financial fugitive is Devas Multimedia's Chief Executive Officer Ramachandran Vishwanathan, who fled the country after siphoning off Rs 579 crore from the Indian Space Research Organisation.

Robbed India's space research agency

In a 2018 case filed by the Enforcement Directorate under the Prevention of Money Laundering Act, a special court in Bengaluru declared him a Fugitive Economic Offender.

Vishwanathan is one of nine accused of diverting 85 per cent of Rs 579 crore from Antrix Corporation, which is ISRO's commercial arm.

Devas was supposed to use ISRO satellites for multimedia services, but that deal was called off by the Indian government in 2011, and the firm was liquidated after a decade.

Before ED, the Central Bureau of Investigation had also filed a case against Vishwanathan and others in the matter.

Has also slandered government officials

The fraudster now in the US, had also placed a full-page ad in the Wall Street Journal, accusing Finance Minister Nirmala Sitharaman and Modi government officials of weaponising institutions to settle scores.

The special court declared Vishwanathan a fugitive after noting that he failed to appear in court even after a summons was served.

RECENT STORIES

King Of Crypto In Jail: Sam Bankman-Fried Imprisoned For 25 Years

King Of Crypto In Jail: Sam Bankman-Fried Imprisoned For 25 Years

Skoda Superb Poised For Return To India – Speculated Launch On April 3!

Skoda Superb Poised For Return To India – Speculated Launch On April 3!

MGNREGA Wage Surge: Centre Announces 3-10% Wage Increase For Rural Workers; Haryana Tops At...

MGNREGA Wage Surge: Centre Announces 3-10% Wage Increase For Rural Workers; Haryana Tops At...

Banks To Stay Open On Sunday: Upon Government Request, RBI Asks Lenders To Function On March 31

Banks To Stay Open On Sunday: Upon Government Request, RBI Asks Lenders  To Function On March 31

Stock Market News: Indian Indices To Remain Shut Today On Account Of Good Friday

Stock Market News: Indian Indices To Remain Shut Today On Account Of Good Friday