Indian industrialist Pramod Mittal was cuffed on Wednesday in Bosnia for suspected fraud and “abuse of power,” a prosecutor stated The younger brother of steel magnate Lakshmi Mittal.
Pramod Mittal has co-managed since 2003 the event is concerned to the operating plant in the northeastern town of Lukavac of coking, which. Around1,000 employees worked here.
“Police, who acted upon the order of the prosecutor, arrested the president of the supervisory board of GIKIL, Pramod Mittal,” prosecutor Cazim Serhatlic described reporters.
GIKIL was organized in 2003 and is co-managed by Pramod Mittal’s Global Steel Holdings and a local public company (KHK).
Two other company officials, general manager Paramesh Bhattacharyya and another member of the supervisory board were also arrested.
They are suspected of “organized crime, notably the abuse of power and economic crimes,” the prosecutor said.
Serhatlic said that if found guilty, the suspects could get jail sentences of up to 45 years.
An arrest warrant has been issued for a fourth man “considered to be a member of this organized criminal group with Pramod Mittal on top.” The suspects will appear before a judge on Wednesday.
The defendants were believed to have pilfered “at least five million marks” (2.5 million euros, $2.8 million) as per Zurnal.info website which covers organized crime,
The CEO of global steel giant Lakshmi Mital, ArcelorMittal, has bailed out his cash-strapped brother Pramod in India.