Jet Airways Investor Florian Fritsch Being Probed for Suspected Fraud
IANS 18 September 2023
A Liechtenstein court order has exposed a trove of luxury cars and watches among the items seized by prosecutors investigating allegations of fraud linked to one of the investors aiming to revive India’s Jet Airways, a media report said.
The supreme court in Liechtenstein rejected an appeal to unfreeze the assets that include seven Porsche cars, five Rolex “boxes” and a classic car simulator worth as much as US$214,000, according to a June verdict published on the court's website, Bloomberg reported.
Florian Fritsch is being investigated for suspected fraud and money laundering by prosecutors in the tiny principality, wedged between Austria and Switzerland. He didn’t respond to an email and message seeking comment, the report said.
Mr Fritsch and his investment company Kalrock Capital are part of a consortium picked to revive Jet Airways, once India’s top private carrier, that filed for bankruptcy in 2019. The investors have pledged to invest Rs1 billion (US$12mn—million) by the end of September to take control of Jet Airways, the media outlet reported.
The Liechtenstein probe has advanced but will need more time to be completed, said chief prosecutor Robert Wallner. He was responding to questions about the probe into Fritsch but did not name him in his responses to Bloomberg.
A large number of confiscated documents had been unaccessible to prosecutors due to numerous appeals by the suspects, Mr Wallner said by email. 
An unsealing process is now underway, he was quoted by the media outlet as saying.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Vodafone Idea Pays Rs1,701 Crore to DoT for Spectrum Auction Instalment
IANS 18 September 2023
Vodafone Idea has made a requisite payment of Rss1,701 crore to the department of telecommunications (telecom department) towards 2022 spectrum auction instalment.
In a regulatory filing, Vodafone Idea said the payment is...
Bombay Dyeing To Sell 22-acres Worli Land to Goisu Realty for Rs5,200 Cr
IANS 14 September 2023
In one of the biggest realty deals, the Bombay Dyeing and Manufacturing Co. Ltd. (BDMC) said it has approved a proposal to sell off its prime property in Worli, measuring around 22 acres, to Goisu Realty Pvt Ltd in two phases for...
SC Warns SpiceJet CMD Ajay Singh for Making Default in Payment of Credit Suisse AG
IANS 14 September 2023
The Supreme Court has issued a stern warning to SpiceJet chairman and managing director (CMD), Ajay Singh, for default in making the due payments to global investment bank and financial services firm Credit Suisse AG.
5 Out of 11 PW Engines in IndiGo Fleet Removed After 3 In-flight Shut Down Incidents: DGCA
IANS 14 September 2023
Following three incidents of a commanded In-flight Shut Down (IFSD) of IndiGo aircraft recently, the aviation watchdog, DGCA said that a total of 11 Pratt & Whitney (P&W) engines of the airline's fleet were impacted, however out of...
Free Helpline
Legal Credit