shot-button
Lake Levels Lake Levels
Home > Mumbai > Mumbai News > Article > US national detained at Mumbai airport for USD 50 million fraud

US national detained at Mumbai airport for USD 50 million fraud

Updated on: 29 December,2015 01:02 PM IST  | 
A Correspondent |

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

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.


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.

 

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!


Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK