An Indian man who was promoted to the post of former chief executive of the Indian Stock Exchange on the advice of a Himalayan yogi has been...
An Indian man who was promoted to the post of former chief executive of the Indian Stock Exchange on the advice of a Himalayan yogi has been arrested in a corporate scandal.
According to AFP, Anand Subramanian was appointed chief executive officer of the National Stock Exchange by the then chief executive officer Chitra Ram Krishna in 2015 and the famous business woman allegedly consults a yogi regarding her business.
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The woman leader resigned in 2016 after allegations of market manipulation surfaced, and a 190-page report released by regulators this month details how she obtained sensitive information from her spiritual yogi.
His supervisor Anand Subramanian was detained by authorities in Chennai on Thursday night in connection with an investigation by the regulatory body.
A senior CBI official confirmed to AFP on Friday that a team from the Central Bureau of Investigation had arrested Anand Subramanian from his Chennai home last night.
Chatra Ram Krishna, 59, was interrogated by investigators for 12 hours last week but has not yet been taken into custody.
The strange thing is that the CBI officials believe that the yogis are either Subramanian himself, either they are fooling Chitra Ram Krishna or they have joined him in this scandal.
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Ram Krishna told the regulators that the yogis would come forward on their own accord and they have no information about where they are, so they gave me an e-mail ID on which I told them. She could send her requests.
People in India often consult astrologers and spiritual leaders, and in the 1.4 billion ultra-religious nation, people in the business world often find themselves in a trance.
Chitra Ram Krishna hired Subramanian in 2013 and later promoted him to the post of Chief Operating Officer at exorbitant salaries even though he had no experience in the field. He had resigned after coming.
Investigators allege that brokers were given preferential access to one of the world's largest exchanges.
Investigations into the emails revealed that the yogi's proposed meetings took place in Seychelles, one of several tax havens, including Singapore and Mauritius, where investigators are investigating possible tax evasion.
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According to media reports, a special lift was allotted to Subramanian and Chitra Ram Krishna at the stock exchange and the task of a special team was to ensure that their toilets had separate towel and soap dispensers.
Authorities have banned the two former executives from leaving India.
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