America
Three Indian Americans charged with money laundering
New York, Aug 7
US authorities have charged three Indian Americans with a $2.5-million bank fraud and money laundering, media reports said.
Binder
Tal (33), Baldev Tal (32) and Shariful Mintu (36) were alleged to have
fraudulently obtained loans and lines of credit from banks, credit
unions and other lending institutions by providing false information to
the lenders about their assets, the official website of the United
States department of justice said.
Baldev Tal was arrested in
Orefield, Pennsylvania while Mintu was arrested in Orange County, New
York. Binder Tal remains at large.
"For years, banks, credit
unions, and small businesses have lost millions of dollars because of
the fraud allegedly perpetrated by the defendants in this case," said
Preet Bharara, the US Attorney for the southern district of New York.
Through their scheme, the three fraudulently obtained over $2.5 million.
If
convicted, the trio may get a maximum sentence of 30 years in prison on
the charge of conspiring to commit bank fraud and a maximum sentence of
20 years on the charge of conspiring to commit money laundering.