NRI Top Stories ( Page 35 of 46 )

Indian American jailed in fraud case December 17, 2014 16:17

Sachin Uppal, 37, An Indian American in Brighton, Michigan sentenced to 64 months imprisonment by a federal court for $3.8-million in a fraudulent investment scheme. U.S. District Judge Nancy G. Edmunds sentenced Uppal, following his August guilty plea to wire fraud charges. Court documents shows that, Uppal maintained the Jefferson Smith Trading Company LLC (“JSTCO”) from July 2007through September 2013. Though Uppal was not a licensed investment advisor, he marketed JSTCO to potential investors and accumulated investor funds, describing it as a “hedge fund.” Uppal introduced himself to the investors as a “day trader,” who commonly use investor funds to buy and sell financial instruments within the same trading day, which can reduce risk to investors.Among the victims of Uppal his family friends were also there. In this type of affinity fraud cheaters oftenly targets members from identifiable groups, such as a religious or ethnic communities or clubs. Uppal was ordered to compensate his victims in the amount of $3,867,187. Uppal simply filled his stomach with the money without conducting any trades at all. When investors asked to close their accounts and withdraw their investment funds, Uppal smoothly suggested them not loose profitable duck. Uppal promised a return of 18 to 20 percent of the total amount per year, with a minimum investment commitment of only 12 months. After accumulating initial investment, Uppal emailed his victims fake “year-to-date investment summaries” to pretend that their accounts were performing continuously and to convey them to invest additional funds. Investors are suggested to approach the Financial Industry Regulatory Authority (FINRA) website (http://www.finra.org) and its Broker Check resource before investing in any firm or to any person. Uppal really betrayed everyone who believed in him including family members and well wishers also. AW: Kannamsai

Indian-origin Vivek Murthy to become America's Surgeon General December 16, 2014 13:05

Vivek Murthy(37), who was born into a family from Karnataka, is going to be the youngest doctor to hold this position in the history US. Generally this post "Surgeon General" is termed as "America's Doctor". He was an outspoken supporter of Obama's healthcare reforms. Dr.Vivek Murthy, working at Harvard's Brigham and Women's Hospital as a physician.Murthy studied biochemical sciences from Harvard and then a combined medicine and business degree from Yale. And Republicans were strongly opposed his appointment, as he tweeted against them in october 2012. Murthy won 51-43 vote.Obama Expressed his happiness over his choice. And said that Murthy will hit the ground running and build on the progress we’ve made combating Ebola. After Sri Srinivasan, Nisha Biswal, Rich Verma, Aneesh Chopra, Preet Bharara, Rajiv Shah, Puneet Talwar,and Vivek Kundra for highest posts in various positions for various departments he is another from Indian- Origin. AW: Kannamsai

NRIs can get benefit from Rupee Weakening December 12, 2014 19:01

10% bonus can be obtained from weak markets. This is specifically applicable to NRIs who will get benefit out of Weaker Rupee value in international currency exchange. For the past few weeks Rupee is under depreciation in stock market , which can only benefit NRIs to invest in India in Property buying. If the exchange value goes to 55-57 then they will get chance benefit nearly 10 percent as bonus. This is the suggestion from Real estate and Infra industrial side. Market analysts also advising NRIs to go ahead with property purchasing in India in this kind of situations. AW: kannamsai

Vijay Jolly made GOPIO's Political Advisor December 10, 2014 17:23

Vijay Jolly, Member of the National Executive Committee of the BJP, has been appointed Global Political Affairs advisor of the Global Organization of People of Indian Origin, International. GOPIO established in the year 1989 and has been working for 28million NRI and Persons of Indian Origin (PIOs), in more than 25 nations across the globe. Ashook Ramsaran, president GOPIO International with headquarters in New York, US, wrote to Jolly and confirmed his appointment, said a release from Jolly's office. Vijay Jolly was in news with strong comments on than Delhi Cheif Minister Sheila Dixit and Suresh Kalmadi over alleged financial irregularities in the 3–14 October 2010, XIX Common Wealth Games in Delhi.He was member of Delhi's Legislative assembly from saket constituency. He was attacked by a mob in Nepal on july 3rd of 2014, while returning after addressing a meeting of Nepal's ruling coalition partner CPN-UML. This former BJP MLA was active in Delhi politics and is now associated with All India Incharge & Prabhari of Tripura State, BJP and All India Incharge & Convenor of Foreign Cell, BJP. Aw: Kannamsai

US-based environmental group raise funds for Punjab September 17, 2014 17:08

EcoSikh, a community environmental group based in Washington, is raising funds for supporting environment action in the state of Punjab and in other parts of the world. The group celebrated the fifth anniversary of EcoSikh’s founding over the weekend. During the event more than 300 Sikhs attended the gala for Earth's ecological future. The gala was a star-studded event with musical performance from Devender Pal(of Indian Idol fame), Pal Singh and renowned music composer Shankar Tucker. Pal Singh had traveled especially from Punjab for the event. Devender entertained the audience with songs from Indian movies and Punjabi Sufi numbers. EcoSikh has supported several projects in Punjab and across the world with its two staff in India and one in Washington. The environmental group also has projects in the holy cities of Amritsar and Nanded (revered by the Sikh community). President of EcoSikh Rajwant Singh, while appealing to the community to support the environmental awareness and tree plantation drive in Punjab said that the state was facing severe ecological consequences of pesticides and chemical fertilisers overuse. This is harming Punjabis who are facing with serious health challenges. Rajwant Singh urged all Punjabis, particularly the Sikhs, to make clean environment the top agenda of the community. (AW: Pratima Tigga)

India-born nurse's family get $550,000 donation from Royal prank radio station September 13, 2014 17:41

Royal prank radio station did it for fun but India-born nurse Jacintha Saldanha was so stressed by the entire episode that she committed suicide. Now the Australian radio station that aired the prank donated $550,000 to Saldanha. The radio station did not take responsibility for her death but made the donation to the family to enable them in rebuilding their lives. Southern Cross Austereo stated that the money would be donated to a trust fund for Jacintha Saldanha's family. A spokeswoman said they know the donation or any amount of money would not be able to relieve the feelings of loss felt by the aggrieved family. But they hope the donation will help them in some way. Jacintha Saldanha, a native of Mangalore in Karnataka, had committed suicide in the nursing accommodation of King Edward VII hospital within days after the prank. Through the prank the hospital staff were tricked into revealing the first pregnancy-related details of Kate Middleton by two Australian radio Djs. Greig and Michael Christian posed as Queen Elizabeth II and Prince Charles during the prank in December 2012. On the night of the prank, Saldanha took the call and transferred it to the duty nurse on the Duchess of Cambridge's ward. The 46-year-old mother of two later wrote an apology letter to the nurse, who was looking after the Duchess. Though the radio station conveyed its condolences but they have not accepted the blame for her death. Saldanha's death inquest was concluded as suicide yesterday. (AW: Pratima Tigga)

NRI group to honour two Indian-origin US professors September 10, 2014 17:22

Two Indian-origin professors associated with the University of Texas, Arlington will be honoured by the Non-Resident India (NRI) Welfare Society of India. The India-based association reportedly said that the two professors will be honoured for their contributions in the fields of chemistry and biochemistry. The two proffessors - Krishnan Rajeshwar, professor of chemistry and biochemistry and Subhrangsu Mandal, associate professor of chemistry and biochemistry at the University of Texas - were selected by the India-based NRI association for the awards. Subhrangsu Mandal will be honoured with the Mahatma Gandhi Pravasi Samman award at the NRI Welfare Society conference to be held in London next month. While Krishnan Rajeshwar will receive the Hind Rattan award at a conference to be held in India. The NRI association stated that these awards were in recognition of "those Indians who have made their mark overseas and have kept the flag of India high." Krishnan Rajeshwar, while reacting to the award, said it was gratifying to know through the award that he was making a small contribution to enhancing the impression of Indians abroad. He also said that he feels humbled for being appreciated by people from his birth country. Subhrangsu Mandal also said that he feels honoured to receive the NRI Welfare Society of India award. Mandal has been associated with the UT Arlington College of Science since 2005. (AW: Pratima Tigga)

Indian-origin fund manager gets 9 years in jail in US September 09, 2014 18:28

An Indian-origin portfolio manager in US has got a sentence to serve 9 years in jail. Besides he was ordered to forfeit a USD 9.3 million bonus earned through the insider trading schemes. He was charged for his role in the "most lucrative" insider trading schemes involving USD 276 million. Mathew Martoma, 40 years, was sentenced by US District Judge Paul Gardephe at a federal court in New York on Monday. Judge Gardephe ordered Martoma to forfeit his interests in his Florida home and several bank accounts, while describing his conduct as "deeply corrosive to our financial markets," creating cynicism among investors. Martoma's sentence is one of the longest handed down for insider trading and is in line with what was sought by Manhattan's top federal prosecutor Preet Bharara before the hearing. Bharara had termed Martoma's role in the insider trading scheme as "central" and asked for a prison term of more than eight years along with forfeiture of his bonus. The India-born federal attorney sais that the sentence should be "commensurate" with the serious nature of the offense and the highly lucrative illegal profit it generated. Martoma worked in the capacity of a portfolio manager at CR Intrinsic Investors, which is a division of hedge fund giant SAC Capital. Earlier in February this year, Martoma was convicted for gathering confidential information related to a top secret Alzheimer's drug trial from two doctors. He made huge profits and avoided losses amounting to 275 million dollars for SAC Capital. (AW: Pratima Tigga)

Indian-American appointed to key post in US August 26, 2014 16:26

Indian-American lawyer Reena Patel has been appointed to a key post in US. Patel has been named to the post of civil division chief in the attorney general's office in the Northern Mariana Islands. The island is one of the five island territories of US that is inhabited. Recently the appointment of Patel to the post was announced by the territory's acting Attorney General Gilbert Birnbrich. As chief of the civil division, Patel will have the responsibilities to administer the day to day smooth functioning of the department. After the appointment Patel expressed her gratitude for being offered the position of chief of the civil division. Patel also said she was looking forward to continue serving the people of the commonwealth in her new role. Reena Patel is a native of New York City. Her academic qualifications include an undergraduate degree from New York University in 2000, a law degree from Thomas Jefferson School of Law in 2008 and an LLM in international trade in 2009. Patel entered private practice in San Diego after her law. In March 2012, Patel moved to the CNMI to serve as an assistant attorney general. During her stint as attorney general, Patel served as legal counsel to several government agencies that include labour, commerce and consumer counsel. (AW: Pratima Tigga)

Indian-origin woman gets top honour in South Africa August 20, 2014 18:48

Indian-origin South African academician Leila Patel has been named as one of the top women researchers in the country. Leila Patel was honoured with the annual Women in Science Awards hosted by South Africa's Ministry of Science and Technology. At present Patel is a professor of social development studies and director of the Centre for Social Development in Africa that had been founded by her in 2002 at the same institution. Leila Patel received her PhD from the University of the Witwatersrand. The South African government hosts these annual awards in recognition of the work of women researchers, who are into full-time research and achieve a master's or doctoral degree in areas where the participation of women have been generally low. Patel did pioneering research work in the field of social welfare in a post-apartheid country when the first democratic elections started in South Africa in 1994 post Nelson Mandela's release. Patel's book 'Restructuring Social Welfare Options for South Africa' was published one year before the 1994 elections. Her book eventually led to social welfare legislations which adopted the new democratic parliament after three years. In 2005, Patel was appointed director-general of the department of social welfare, from where she led a team which had the task of transforming the country's welfare system from the apartheid era that was a racial and unequal system. Her second book, 'Social Welfare and Social Development in South Africa' published in 2005, has been a part of international writings. It seeks alternative model of development in the global south, aiming to reduce poverty, build human capacity and engage communities in a positive manner. This year the Women in Science Awards went to women who had done pioneering research work in fields that included biostatistics, traditional medicine and agriculture. (AW: Pratima Tigga)

PIO man arrested in basmati bags drug smuggling case in Canada August 12, 2014 16:34

The lure towards easy money has pushed many towards drugs smuggling. Drug smugglers have taken to camouflaging the restricted good in the sweet-smelling Basmati rice bags that are exported from Punjab. Indian basmati rice has been helping drug cartels in Canada to push through the contraband in export consignments. Royal Canadian Mounted Police (RCMP) and Canada Border Services Agency (CBSA) have recently seized nearly 96kgs of synthetic drugs in a rice shipment from India. Authorities have also arrested a Punjabi, based in Brampton, along with two other men. On August 7, the RCMP took three Greater Toronto Area residents under custody for importing over 72.8kg of ketamine and 23.5kg norephedrine illegally. Brampton-based Amritpal Gill, 35 years, is one of the accused in the drugs case. The three men were, however, released later and will appear for investigators on September 2. According to reports, CBSA officers found ketamine and norephedrine concealed in 500 rice bags from India in a Toronto-bound container at Montreal port. The drugs were cleverly concealed in the rice bags. Punjab police have been in the look out for drug racketeers due to international pressure from law enforcement agencies, said former Punjab DGP (Prisons) Shashi Kant. (AW: Pratima Tigga)

Indians among top spenders in Singapore July 21, 2014 17:31

Indians love to travel and do some shopping at the local malls and popular shopping hubs. Visitors from India to Singapore were among the top three spenders in the city. Singapore tourism board (STB) said that Indian tourists were the third most spenders in during their visit in the first quarter of 2014. China is at the top when it comes to spending on shoppings in Singapore, followed by Indonesia. However, this year, the spending by Indian tourists during the quarter was down by 3 % on the year at SGD284 million. This has been attributed to a fall in arrivals and lower per capita expenditure by tourists, said the board. This year around 65,557 Indian tourist arrived in Singapore in January, less by 7.9 % who had visited last year. During February, 62,999 Indian tourists arrived in Singapore, up by 5.6 % from last year, and the figure for March was 70,472 , same as March 2013. In April, Indian tourists visiting Singapore stood at 79,522, which was 4.5 % higher than last year. However, their expenditure was not included in the quarterly report. Singapore's earnings from tourism increased by 5 % on the year to SGD6 billion from 3.9 million visitors, compared to last year, as per STB. China stood at the top, with 557,466 Chinese tourists spending SGD800 million during the period January-March 2014. Indonesia's 749,389 visitors spent SGD658 million in the first quarter of 2014, said STB. (AW: Pratima Tigga)