Top 5 Indian “money launderers” most likely to leave a mark on history.

The term “money laundering” is an offence of concealing or camouflaging of money gained through illicit means by making it appear legitimate. History has seen many powerful people have abused their power to gain money via illegal means and not all have been always caught. This is a global crime and one which has the power to push nations into poverty. Here are five such “money laundering” cases which infamized the offenders in such a way that they might never be forgotten as they undoubtedly caused the collapse of Law and Order in the country they originated from.

1.    A. Raja and Kanimozhi from the 2G scam

The great 2G spectrum scam opened up a new chapter in money laundering cases in India. It was listed the second in the list of Time Magazine’s “top 10 abuses of power”. Quite a few politicians and government officials were accused in 2008 for charging lesser rates to mobile telecom companies for allocation of frequency licenses for creating 2G subscriptions for mobile phone users. The CBI estimated a loss of Rs. 30,984.55 crore in the 2G scam and also proved involvement of former Telecom Minister A. Raja and DMK chief Karunanidhi’s daughter Kanimozhi amongst various other government officials as well as telecom companies such as Swan Telecom, Kalaignar TV, etc.

2.    Dawood Ibrahim from Hawala scam

This head of a multi-thousand member criminal syndicate which has its operations mainly in Pakistan, India and United Arab Emirates and was the mastermind and financer of the 1993 Mumbai bombings and he also laundered about $5 billion from these countries on behalf of Osama Bin Laden. Hie was involved in the Rs.5000 crore Hawala scam and had bribed countless Indian politicians during that time.

3.    Suresh Kalmadi from CWG scam

The Organizing Committee of the Commonwealth Games that took place in India from 3-14^th Oct, 2010 along with many private companies are contesting approximately two dozen cases worth Rs. 350 crore. The president of the Indian Olympic Association Suresh Kalmadi was sacked in April 2011 for corruption and money laundering charges and was arrested by the CBI but is now out on bail. The snail-paced justice system of India is yet to convict the offenders of the CWG scam.

4.    Raju Ramlingam from Satyam scam

Satyam Computer Services was considered as one of the most promising IT companies of India. The investors, the foreign clients as well as the Indian masses were left flabbergasted upon the revelation of Rs. 1400 crore worth corporate scam by Indian government, who controlled the situation by saving the jobs of its employees due to take over by Tech Mahendra.

5.    Abdul Karim Telgi from Telgi scam

This notorious master of conning had printed fake stamp papers and sold them to numerous financial institutions and banks. This scam was worth Rs. 20000 crore exposed the major failure of the Indian political and judicial systems by proving the involvement of various politicians in it.

There are two more infamous personalities who have already made a mark on history as the most notorious money launderers the world has seen yet and hence, I feel obligated to mention them too.

·        President Suharto of Indonesia

The former president of Indonesia is considered as one of the most corrupt leaders throughout the world. It was alleged by Time Magazine that about $15 billion of wealth were placed in 11 different countries in the name of his family. Additionally, Indonesia’s wealth and assets worth $73 billion had passed through his family member’s hands, all during his tenure as the President of Indonesia.

·        Al Capone

Perhaps the most famous American mobster is considered as the man at the forefront of modern money laundering methods. Ironically, he used cash-operated laundry machines for disguising his illegal gains which were estimated to about $7 billion. It is also debated by some that this is where the phrase “money laundering” came from. Eventually though, inspite of committing several crimes of money laundering, bootlegging, prostitution, and gambling; Capone was arrested in 1931 for another crime of Tax evasion.

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