US law nails Andhra Congress MP KVP Ramachandra Rao in bribery case

KVP Ramachandra Rao
New Delhi, April 3: Congress MP from Andhra Pradesh KVP Ramachandra Rao has invited trouble for himself just before the elections. In an unprecedented case, the Justice Department of US has indicted him of bribery and corruption that involved US financial institutions.

Apart from him, 6 other foreign nationals including a Ukrainian billionaire and an Indian-American businessman were involved.

According to a TOI report, it is alleged that the minister conspired to pay approximately $18.5 million to Indian officials to secure licenses for mining minerals in Andhra Pradesh.

The mining project was expected to generate $500 million annually from the sale of Titanium products, including sales to an unnamed, headquartered in Chicago.

Among the companies that were included in the scam include a British Virgin Islands company controlled by Ukrainian billionaire Dmitry Firtash; Group DF companies Ostchem Holding AG, an Austrian company in the business of mining and processing minerals, including titanium; Global Energy Mining and Minerals Limited, a Hungarian company, and Bothli Trade AG, a Swiss company, for which Global Energy Mining and Minerals was the majority shareholder.

OneIndia News

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