Indian-Origin Men Jailed for Multi-Nation Corporate Scam

Two Singaporean men of Indian origin, Ishan Sharma and Kandhiban Letchumanansamy, were jailed for scamming victims in the U.S. through over 50 companies. Sharma, the mastermind, was sentenced to four weeks, while Kandhiban received a week's imprisonment. The scam involved bank transactions from China and the UAE.

Two Singaporean men of Indian origin, Ishan Sharma and Kandhiban Letchumanansamy, have been sentenced to jail for their involvement in a multi-nation corporate scam targeting victims in the United States. Operating through more than 50 companies, the duo received over USD 1 million through bank transactions, including those from China and the UAE.

Ishan Sharma, 34, was sentenced to four weeks in jail after pleading guilty to charges under the Companies Act. He was accused of influencing Kandhiban, 36, into neglecting his duties as a director at two of the firms involved. Kandhiban received a one-week jail sentence for his failure to supervise the companies' activities.

The court heard that Sharma, a chartered accountant at the time, masterminded the scam and enlisted Kandhiban as a 'silent director.' The funds acquired from the scam were moved to various international accounts, but none of the proceeds were recovered.

(With inputs from agencies.)