14 Former Directors of IL&FS Financial Services Receive Notice for Money Laundering, Fraud, and Payoffs

By AML OFAC, AML

14 Former Directors of IL&FS Financial Services Receive Notice for Money Laundering, Fraud, and Payoffs

IL&FS Financial Services Ltd,

a non-banking finance company, is an embattled enterprise faced with credibility issues.

The government-appointed board of IL&FS Financial charged 14 former directors of IL&FS Financial with facilitating money laundering and sanctioning loans in violations of rules.

The new board had ordered a special audit that was conducted by Grant Thornton.

SWFI – Sovereign Wealth Fund Institute

https://www.swfinstitute.org/swf-news/14-former-directors-of-ilfs-financial-services-receive-notice-for-money-laundering-fraud-and-payoffs/

IL&FS Financial Services Limited

http://www.ilfsifin.com/

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