Nitin Sandesara, Gujarati Businessman, Flees To Nigeria After Committing Fraud Of Rs 5000 Crore
Sources revealed that since India doesn’t have an extradition treaty with Nigeria, bringing Sandesara and his family back to India would be tough.
Nitin Sandesara, owner of Gujarat-based Sterling Biotech, has reportedly fled to Nigeria after committing a bank fraud of Rs. 5,000 crore.
Earlier this month, reports surfaced that Sandesara, who was wanted by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), was detained in Dubai.
However, The Times of India sources revealed that the information of Sandesara’s detainment was, in fact, incorrect. An officer, who did not wish to be named, informed TOI, “There were reports that Nitin Sandesara was detained by UAE authorities in Dubai in the second week of August. It was incorrect information. He was never detained in Dubai. He and other family members probably left for Nigeria much before that.”
The sources also said that since India doesn’t not have an extradition treaty or a Mutual Legal Assistance Treaty with Nigeria, bringing Sandesara and his family back to India would be tough.
Sandesara has diverted huge amount of money abroad. Sources allege that he has even established over 300 shell and benami companies in India and abroad to divert funds.
CBI and ED have booked Vadodara-based Sterling Biotech, its directors Nitin, Chetan and Dipti Sandesara, Rajbhushan Omprakash Dixit, Vilas Joshi, chartered accountant Hemant Hathi, former Andhra Bank director Anup Garg and several unidentified persons in the banking fraud.