Rolls-Royce let off the hook with heavy penalty of $800 million
The Dollar Business Bureau The British engine maker Rolls-Royce has secured a Deferred Prosecution Agreement (DPA) with the authorities in Britain, US and Brazil. To avoid further criminal prosecution and settle the enormous corruption scandal, investigation into which has been on for five years now, Rolls-Royce has agreed to pay a penalty of a little over $800 million. Seven countries; a Serious Fraud Office (SFO) investigation costing $16 million; charges of corruption and bribery spanning three decades; disciplinary proceedings against 38 employees and 30 million documents scanned! The Rolls-Royce scandal sure has all the markings of a truly international headline grabbing mega event. The niche-serving luxury brand was charged with corruption, bribery and false accounting practices with regard to its dealings in as many as seven countries, namely, Thailand, Indonesia, Malaysia, China, Russia, Nigeria and ...
Kolkata Port Trust Chairman arrested
Raj Pal Singh Kahlon, Chairman, Kolkata Port Trust, wasarrested for accepting illegal gratification of Rs 20 lakh Source: PTI Raj Pal Singh Kahlon, Chairman, Kolkata Port Trust The Chairman of Kolkata Port Trust, Raj Pal Singh Kahlon, has been arrested for allegedly accepting illegal gratification of Rs 20 lakh, police said. He was arrested from a five-star hotel in central Kolkata last night, the police said. "Last night one businessman and Raj Pal Singh Kahlon, Chairman, Kolkata Port Trust, were arrested for accepting illegal gratification of Rs 20 lakh. A case was filed in New Market Police Station," a senior official of Kolkata police said. March10, 2016 | 03:50pm IST