The claimants’ case is that all five defendants have been complicit in a US$1 billion fraud, whereby the proceeds of banking facilities advanced to what are said to be two of the first defendant’s former companies, Winsome Diamonds and Jewellery Limited (Winsome) and Forever Precious Diamonds and Jewellery limited (Forever Precious) were misappropriated, laundered and concealed through multiple layers of corporate entities in or about the year 2013, with the vast majority of the proceeds (on the claimants’ case) ending up, insofar as it is currently possible to trace them, in other entities owned and/or controlled by the Mehta family.
Citations:
[2022] EWHC 1810 (Ch)
Links:
Jurisdiction:
England and Wales
Torts – Other
Updated: 14 August 2022; Ref: scu.679568