You Need to Know Why Fraudsters Safe Heaven is London

By | May 10, 2020

Fraudsters safe heaven is in London. Do you know why?

It is a fact, that criminals and fraudsters escape to London from all over the world. Indian fraudsters, are also not behind the race as nearly 130 of them escapes to London.

Fraudster from India like Vijay Mallya, Nirav Modi flew to London after doing frauds worth of billions. Nirav Modi’s scam has inflated ₹14,356.84 crore which is nearly US$2.1 billion.

Unfortunately, before the fraud came out publicly, Nirav Modi and his family escape from India. He said to be hiding in London, allegedly traveling on a fake passport.

Vijay Mallya is another top fraudster from India who escapes to London. His fraud involves around ₹9,000 crores or US$1.3 billion.

Not only from India, but people from across the world also do frauds and scams and flew to London. So, London has become a safe heaven for these fraudsters now.

Moreover, the British government welcomes these fraudsters and criminals. In fact, they also provide them Golden Visa. However, the condition is they need to invest heavily in the UK government.

UK government gives Golden Visas to all these scamsters and fraudsters to attract foreign capital to boost their economy. In return, these fraudsters get the right to residence and citizenship.

So, London is the ideal place for these fraudsters to hide. Likewise London, many other countries also have similar kinds of policies.

Switzerland helps people across the world to save their black money in their respective Swiss Bank Accounts.

The black money is deposited by the criminals, smugglers, hoarders, tax-evaders, and other anti-social elements of any society. From India alone, around 22,000 crores of rupees are supposed to be kept by the criminals for vested interests. However, the amount might be even larger and maybe around ₹300 lakh crores.

Mauritius is another hot spot for these fraudsters where they can convert their black money to white money very easily.

Indian governments requested UK governments to hand over these fraudsters who take away the hard-earned money of Indian taxpayers. So far almost 131 people escape to the UK and only one of them has been handed over to the Indian government.

UK government safeguards these fraudsters by giving excuses based on the European Convention on Human Rights. The UK denies the request of India if the British think they can be tortured or the Jail of India is not suitable.

Extradition proceedings are really slow in the UK. India has made nine extradition requests, including one for Vijay Mallya to the UK.

Rajesh Kapoor (2011) for forgery and fraud.

Tiger Hanif (2004) for involvement in terrorism.

Atul Singh (2012) for sex crimes.

Raj Kumar Patel (2009) for forgery.

Jatinder Kumar Angurala and Asha Rani Angurala (2014) for bank fraud.

Sanjeev Kumar Chawla (2004) for cricket betting.

Shaik Sadiq (2004) for conspiracy and theft.

However, the behavior of the UK is not the same for all other countries. As the USA requested the UK to hand over around 130 fraudsters, only 10 peoples have been rejected so far.

When fraudsters from Russia escape to the UK, Russia also requested the UK government to hand over them. However, their request has been denied and Russia then takes strict measures to bring back these fraudsters.

So, the UK might hand over these fraudsters to India, if Indian governments put more pressure.

So, Queen’s Land is definitely a favorite hiding spot, especially for Indian fugitives.

 

Category: Blogging

About Ratan Kumar

Ratan Kumar, an enthusiast stock market trader & blogger. He is the founder of akme. Forecasting stock market moves with the use of technical analysis since 2008. For the technical trader & investor, new or experienced, he provides legitimate and valuable advisory from day trading to long-term investment horizon and helped thousands of investors to make money out of the stock market.

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