DCW Scam Survey
Indian Importer, Officials Booked for Cheating Tied to LC
A Chennai-based importer, its director, and six former officials of a company operating under the Indian government’s Ministry of
Pakistani Businessman Charged with Export, Banking Fraud
After receiving dozens of containers filled with soil, gravel and stones instead of the valuable natural minerals it had agreed
Hin Leong Founder O.K. Lim Sentenced to 17½ Years
Following his May 2024 conviction on two cheating charges and one count of instigating forgery for the purpose of cheating,
Court Sentences Five in 30- Year-Old LC Scam Case
The Court of the Special Judge, Central Bureau of Investigation (CBI) in Guwahati, India, has fined and sentenced five individuals
Indian Agency Begins Return of Property to Choksi Fraud Victims
From 2014 to 2017, Indian businessman Mehul Choksi colluded with associates and bank officials to fraudulently obtain LCs and letters
“Proclaimed Offender” Accused of Forging LC Arrested
India’s Central Bureau of Investigation (CBI) has arrested a man declared a “proclaimed offender” by an Indian special court
Nigerian Airline Officials Indicted in US for Obstruction of Justice
Further to a story previously reported (Oct 2022 DCW 45), the CEO and founder of Nigerian airline Air Peace, has
SEC Charges Duo for Their Roles in Prime Bank Program
After US federal government agencies warned that “prime bank” instruments lacked legitimate use in the mid-1990s and the US Securities
Bangladesh Investigators: Insurer Embezzled Funds Linked to 25 LCs
Two officials from Asia Insurance, Bangladesh, were fined for embezzling BDT 22.7M via forged documents linked to TVS Auto.
Indian Firm Using LCs, Accused of Cheating Bank
India’s Central Bureau of Investigation (CBI) is looking into a complaint, alleging that a Mumbai-based civil construction firm and
Jail for Georgia Man Who Duped Florida County Using Phony Standby
Further to previous DCW reporting of a scam involving use of a bogus document labelled a standby letter of credit
Ghanaian Court Sees Red in Challenge of Charge Sheet
A man accused of willfully causing EUR 2.37 million in financial loss to Ghana by having letters of credit
