Mauritius

October 18, 2013

Alleged Fraud In The Offshore: Sushil Kumar Jogoo Questioned 'Under Warning'

Jogoo Sushil Kumar, director of logistics infrastructure company Kross Border, was questioned 'under warning' Monday in the premises of the Central CID.

He is accused of forgery and forgery for transactions amounting to U.S. $ 8 billion (' trillion ') following allegations of Kolanda Reddy, an Indian businessman who owns 60% of shares in the company .During his interrogation, Sushil Kumar Jogoo told investigators that initially all decisions are approved by foreign directors, and is aware of all decisions . However, he adds that he does not remember if Kolanda Reddy was present at these meetings.
Kross Border company specializes in offshore and affording guests the "double taxation benefit " aims . The company has several foreign directors and other Mauritians . Kolanda Reddy complained last year at Central CID . He suspected fraudulent transactions amounting to U.S. $ 8 billion . In his testimony he describes as Return resolutions ( decisions regarding investments, loans , etc.) should first be signed by himself , since he owns the majority of shares in the company , and then by Mauritian managers .
Kolanda Reddy was informed of the alleged fraudulent transaction after the Financial Services Commission ( FSC) had sent him documents showing several meetings between foreign and Mauritian directors .
In addition, six Return Resolutions were signed by Kolanda Reddy, while the latter claims never to have signed. It also supports not having participated in these meetings. The Indian businessman argues that many decisions were taken by the Mauritian directors they do not consult .
However, it holds 60 % stake in the company. Depending on the content of its decisions , Mauritian directors have borrowed to U.S. $ 8 billion (' trillion ') . Given the enormity of the sum, the businessman would have demanded an explanation from the Mauritian directors, but without success. Mauritian directors suspected in this fraudulent transaction Dhanun Ujoodha (director), Sharmel Shah ( Manager) , Sushil Kumar Jogoo (Director ) , Adam Essack Nassreenbhai ( secretary) and Jayechan Jingree , Execitive Chief Officer (CEO) .
Dhanun Ujoodha is expected in Central CID on Thursday. It will provide explanations on this matter , as his name was mentioned by Kolanda Reddy . Jayechan Jingree will also be summoned to CCID during the week. Sharmel Shah and Nassreenbhai Adam Essack were arrested last Wednesday. A provisional charge of forgery (' forgery ') was brought against them . They were released against bail . Nassreenbhai Adam Eaasack task was to take notes at meetings of the directors.

 

 

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