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Red Corner notice against RS MP KVP Ramchandra Rao in titanium contract case

The Interpol on Wednesday issued a Red Corner notice against Congress MP in Rajya Sabha KVP Ramchandra Rao in connection with in connection with his role in an international corruption scheme involving bribes worth $18.5 million to government officials to allow the mining of titanium minerals in Andhra Pradesh.

The Red Corner notice against Rao, who is wanted in the United States in the titanium illegal contract case, was issued at the request of Federal Bureau of Investigation (FBI).

The Central Bureau of Investigation (CBI) which represents Interpol in India has forwarded the RCN to the Hyderabad police for necessary action.

Rao was among six persons, who were charged in the US for their suspected role in titanium contract case.

Rao, 65, and five others were charged with one count each of racketeering conspiracy and money laundering and two counts of interstate travel in aid of racketeering.

Apart from Rao, the others who were charged were Hungarian businessman Andras Knopp, 75, Suren Gevorgyan, 40, of Ukraine, Gajendra Lal, 50, an Indian national and permanent resident of the US who formerly resided in Winston-Salem, North Carolina, and Periyasamy Sunderalingam, 60, of Sri Lanka.

Five defendants, excluding Rao, were also charged with one count of conspiracy to violate the Foreign Corrupt Practices Act (FCPA).

Rao was an official of the state government of Andhra Pradesh and a close advisor to former Chief Minister of Andhra Pradesh, late Y S Rajasekhara Reddy.

Beginning in 2006, the defendants allegedly conspired to pay at least US $18.5 million in bribes to secure licenses to mine minerals in Andhra Pradesh.

The mining project was expected to generate more than US $500 million annually from the sale of titanium products, including sales to unnamed “Company A”, head-quartered in Chicago.

The indictment seeks forfeiture from all six defendants of more than US $10.59 million.

The indictment alleges that these individuals used US financial institutions to engage in the international transmission of millions of dollars for the purpose of bribing Indian public officials to obtain approval of the necessary licences for the project.

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