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3 Indian-origin men sentenced for bank fraud

London, June 6
Three Indian-origin businessmen who swindled banks in Britain and the United States of more than £300 million by pretending to run a worldwide metal trading empire have been sentenced by a UK court.

Virendra Rastogi (39), Anand Jain (43) and Gautam Majumdar (57), ex-directors of metal trading business RBG Resources, were convicted at Londonís Southwark Crown Court of conspiracy to defraud on April 23.

Rastogi, who has earlier figured in the Sunday Times rich list, was sentenced for nine years and six months, Jain for eight years and six months and Majumdar for seven years and six months.

In addition, the three have also been disqualified from acting as company directors for various periods: Rastogi for 15 years, Jain for 10 years and Majumdar for 10 years.

The sentences came at the end of a long drawn out international investigation. ó PTI

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