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Article: Indian origin mastermind of int'l fraud sentenced in US.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- June 19, 2008
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Indian origin mastermind of int'l fraud sentenced in US
By: Dharam Shourie
New York, June 19 (PTI) An Indian-origin man who masterminded a major international fraud that led to USD680 million in losses to 20 banks wordwide has escaped with a lighter sentence of seven months in prison, the time he has already served.
Anil Anand, former chief financial officer of Allied Deals Inc-- a metals trading firm, was also asked by US District Court to pay USD 683.6 million in restitution.
Anand, 46, had pleaded guilty to the charges in 2002 and faced upto 30 years in prison but escaped with a lenient sentence because he cooperated with ...