Rajesh & Rashmi Bothra are accused of money laundering of Rs. 12000 crore from multiple Indian banks, making it one of the largest financial scandals in recent history.
RB Investments, a firm founded by Rajesh and Rashmi Bothra, are facing serious allegations of financial fraud, as per the report of DNA India. As per the report, the couple is accused of defrauding Indian banks of approximately Rs 12,000 crore through a complex money-laundering scheme via different international channels.
Rajesh and Rashmi Bothra are famous tycoons of the business world. They founded RB Investments which operated in India as well as in several international locations, including Singapore, Hong Kong, and Dubai. However, the couple has now been accused of conducting a massive financial fraud amounting to Rs 12,000 crore.
Allegations Against Rajesh & Rashmi Bothra
As per the DNA India report, a whistleblower has claimed that the Bothras engaged in illegal activities, including criminal breach of trust, cheating, forgery, and conspiracy. They are also accused of violating the Prevention of Money Laundering Act (PMLA), 2002.
According to information provided by a whistleblower, the Bothras allegedly executed a complex scheme & defrauded Indian banks by laundering money through various international channels. The fraud reportedly involves multiple Indian banks and their branches in foreign locations, making it one of the largest financial scandals in recent history.
Authorities Action Against Bothra’s Firms
According to the report, the authorities have started taking immediate action against the couple. A formal notice has been sent to the Enforcement Directorate (ED), requesting the formation of a SIT comprising representatives from CBI, RBI, SEBI, and ED. The SIT is expected to conduct a thorough investigation into the activities of the Bothras and their companies,
The notice also highlights the need for an investigation into the companies that received investments from RB Investments and Founder Bank Capital without conducting proper Know Your Customer (KYC) procedures.