US national detained at Mumbai airport for USD 50 million fraud
A US national was detained at Chhatrapati Shivaji International Airport yesterday morning for allegedly cheating Los Angeles City by over billing in the Affordable Housing Trust Fund. He was on his way to Mexico
A US national was detained at Chhatrapati Shivaji International Airport yesterday morning for allegedly cheating Los Angeles City by over billing in the Affordable Housing Trust Fund. He was on his way to Mexico.
The immigration officials handed over Karimi Salim, 50, against whom, a red corner notice had been issued by the US authorities, to Sahar police.
He, along with his other colleagues, is accused of over billing local municipalities and financial institutions for 50 million dollars.
"The Los Angeles agencies learnt about the fraud during the proceeding of a divorce filed by Karimi Salim and his wife Jannki Mithaiwala. They found several mistakes in accounting adopted by Karimi and also realised a lot of money was diverted to India," said a police officer from Sahar police station.
The police then issued a red corner notice against Karimi, who had fled by then. Karimi was the president of Advanced Development Investment Corporation, a low-income group housing developer, for almost 17 years and he took huge loans by over valuing properties and using fraudulent bills. Advanced Development Investment Corporation is his father-in-law’s company.
The police said his company built around 50 affordable housing projects in California, like in Los Angeles, Glendale, Anaheim, Fresno, Long Beach, Sacramento and San Diego and the police were worried about the health of such projects as lot of money allotted to them was siphoned to India.