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