Trouble mounts for Bhangoo as India spreads probe to Oz
9 Jan 2015 11:05 PM GMT
Mother of all ponzi scams worth about Rs 50,000 crore orchestrated by Punjabi tycoon Nirmal Singh Bhangoo is finally getting its due attention after Indian agencies including CBI and Serious Fraud Investigation Office (SFIO) contacted their Australian counterparts to get ‘every single’ piece of information about his investment in the Caribbean country.
CBI chief Anil Sinha had recently claimed that they have formed four separate teams to go deep into the case. It has been learnt that one of the teams was asked to look into foreign affairs of Bhangoo and they are already in touch with the Australian authorities in getting details of Bhangoo’s dubious investment in real estate, hotels, sports and remittance business.
Well informed sources said, the Indian sleuths are in touch with the Indian embassy in Australia as well as with the Australasian Consumer Fraud Taskforce (ACFT) to strengthen their case against Bhangoo.
There are reports that Bhangoo has made some investment in Dubai too and that the probe agency will take up the issue with Dubai counterparts soon. “If required we will also take help from the Interpol to unearth how he came in contact with the notorious fugitive Christopher Skase, who died in 2001. Bhangoo’s Pearls Australasia Company paid $62 million cash for the luxurious Sheraton
Mirage Resort and Spa to Skase, and spent another $20 million on its renovations. There must be some middleman who broke the deal and we need those information,” government sources told Millennium Post.
On the other side, the Australian government tightened noose around Bhangoo and is planning to enquire whether Bhangoo’s Sheraton Mirage Resort and Spa has violated any environment laws or not. The initiative was taken by the Australian government after some of the parliamentarian and environmentalist has raised serious questions over the violation of environmental norms while renovating the hotel.
Over the years Bhangoo has become a big player in Queensland property development through joint ventures between his Pearls Australasia subsidiary and David Devine’s Metro group to build hundreds of new apartments in Brisbane’s inner city.
Millennium Post wrote emails to Metro Group’s David Devine but failed to get any response.
On February 19, 2014 the agency had registered a case against him, but Bhangoo continues to use his connections within the corridors of power and questions are being raised on why he has not been arrested ‘even once’.
CBI chief Anil Sinha had recently claimed that they have formed four separate teams to go deep into the case. It has been learnt that one of the teams was asked to look into foreign affairs of Bhangoo and they are already in touch with the Australian authorities in getting details of Bhangoo’s dubious investment in real estate, hotels, sports and remittance business.
Well informed sources said, the Indian sleuths are in touch with the Indian embassy in Australia as well as with the Australasian Consumer Fraud Taskforce (ACFT) to strengthen their case against Bhangoo.
There are reports that Bhangoo has made some investment in Dubai too and that the probe agency will take up the issue with Dubai counterparts soon. “If required we will also take help from the Interpol to unearth how he came in contact with the notorious fugitive Christopher Skase, who died in 2001. Bhangoo’s Pearls Australasia Company paid $62 million cash for the luxurious Sheraton
Mirage Resort and Spa to Skase, and spent another $20 million on its renovations. There must be some middleman who broke the deal and we need those information,” government sources told Millennium Post.
On the other side, the Australian government tightened noose around Bhangoo and is planning to enquire whether Bhangoo’s Sheraton Mirage Resort and Spa has violated any environment laws or not. The initiative was taken by the Australian government after some of the parliamentarian and environmentalist has raised serious questions over the violation of environmental norms while renovating the hotel.
Over the years Bhangoo has become a big player in Queensland property development through joint ventures between his Pearls Australasia subsidiary and David Devine’s Metro group to build hundreds of new apartments in Brisbane’s inner city.
Millennium Post wrote emails to Metro Group’s David Devine but failed to get any response.
On February 19, 2014 the agency had registered a case against him, but Bhangoo continues to use his connections within the corridors of power and questions are being raised on why he has not been arrested ‘even once’.
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