Online media firm Cobrapost.com today made money laundering allegations against a wider set of banks and financial institutions and lashed out against the government and regulatory agencies’ attempt to play down its similar expose’ in March.
How the Cobra Bit
- Cobrapost Associate Editor Syed Masrur Hasan took an alias as Rajesh Sharma.
- Sharma aka Hasan told unsuspecting private banking officials that he was fronting a minister.
- He told them the minister’s imaginary wives Nita and Vandana wanted to deposit black money.
- Several officials of all three banks in some 40 centres across the country readily bought the story.
- They readily offered solutions from opening of multiple bank accounts, investment plans, overseas remittance.
- They promised to create ‘channels’ through which eventually, Sharma will get his money back in white.
- They also offered huge lockers, where Sharmaji can stash up to a few crores in cash.
What Cobra claims
- Money laundering sold as a product
- Bulk of insurance money in these banks is black money
- It has hundreds of hours of evidence
- Severe connivance of top management
- Clear violation of IPC and PMLA
- RBI, finmin trying to give clean chit
- Law of land subverted on parliament street itself
Whom did Cobra bite?
PSU Banks named:
- Bank of Baroda
- Punjab National Bank
- Canara Bank
- Indian Bank
- Central bank of India
- IDBI Bank
- Oriental Bank of Commerce
- Allahabad Bank
- Corporation bank
- Dena bank
- Yes Bank
- Dhanlaxmi Bank
- Federal bank
- DCB Bank
- ICICI Bank*
- HDFC Bank *
- Axis Bank*
- Reliance Life
- Birla Sunlife
- Tata AIG