Wild goose chaser billionaires of India
India has the fourth largest billionaire population in the world
When it comes to the country with the most billionaires; India comes in the top five. India has the fourth largest billionaire population in the world, says Forbes in their new list of the World's Billionaires.
The country has a total of 102 billionaires where the USA has 614, China has 389 and Germany has 107.
Many people want to make money through business in India as it is a big country with lots of opportunities. Some hard working and industrious people become successful in reaching their goals and some people end up being bankrupt or even charged for federal crimes. People often ask themselves, what would you do to make it to the top? Sometimes the only answer they find is to earn by unfair means.
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In India, four billionaires have pushed their luck to the point where they ended up in Interpol's red notice or fled to a foreign country to avoid arrest.
Liquor tycoon Vijay Mallya, Sahara Group's Subrata Roy, Indian IT executive Ramalinga Raju and jeweller Nirav Modi are the four infamous billionaires from India, who rode a rollercoaster ride of success through scam, money laundering and crushing poor people's dreams. But even with these unfair means, they could not catch their desired wild goose.
Vijay Mallya
Vijay Mallya is an Indian businessman who owes an estimated Rs 9,000 cr to 17 Indian banks and is also accused of fraud and money laundering.
Mallya is fighting extradition from the UK at present.
A former Rajya Sabha member, Mallya is the ex-chairman of United Spirits which is the largest spirit producer in India. He is the chairman of United Breweries Group and previously served as chairman of Sanofi India and Bayer CropScience.
In 2005, Mallya launched India's most profitable airline, Kingfisher Airlines, which later turned out to be a failure.
Byrraju Ramalinga Raju
Ramalinga Raju, the former CEO of Satyam who resigned from his post after admitting to accounting fraud over Rs 7,000 cr.
In 1987, Raju started Satyam computers and after a while, it became one of the top IT companies in India. It had 185 Fortune 500 companies in its client list. But Raju had something else in his mind.
In 2009, Raju himself admitted that the company's accounts had been falsified to the tune of Rs 7,000 cr.
In 2015, Raju was accused of corporate fraud, which ruined his business. He is currently out on bail.
Subrata Roy
Subrata Roy, chairman of Sahara India Pariwar, built an empire covering multiple sectors including finance, housing, media, health care, education, hospitality, and IT.
Roy's Sahara Group established three cooperative societies and collected deposits worth Rs 86,673 cr from as many as four crore depositors.
India's Supreme Court ruled that Sahara group violated security laws and illegally raised over Rs 26,000 cr in 2012.
Roy denied all charges against him. He appointed almost all of the famous lawyers in Delhi to represent him in court. He got released on parole from Tihar Jail when his mother passed away, two years after his detention.
Roy claimed in the court last year that he cleared most of the dues demanded by the Securities and Exchange Board of India.
Nirav Modi
Nirav Modi, founder of the Nirav Modi chain of diamond jewellery retail stores, who was ranked 57 in the Forbes list of billionaires in 2017, is currently in the UK seeking political asylum.
He is accused of defrauding the Punjab National Bank for a whopping Rs 28,000 cr.
Interpol and the Government of India charged Nirav Modi for criminal conspiracy, cheating including the delivery of property, corruption, money laundering and fraud in August 2018.
