February 11th, 2009
Vijay Taneja, promoter of Shahrukh Khan Bollywood shows in the past in U.S. has been sentenced to imprisonment for 7 years in a $ 33 million fraud case.
The man was found guilty by a Virginia Court for running up immigrant banking fraud schemes and using the money to finance films and select Bollywood concerts. Atleast 4 US Banks were found to have been pursuing Taneja.
In his order, the U.S. District Judge Claude M Hilton also ordered Taneja to pay $33 million in compensation to these four financial institutions. Besides seven years of imprisonment, he would be subject to three years of supervised release.
His claim to fame which got him celebrity status among the NRIs was his mega shows, through which he had financial agreements set up with several Bollywood stars.
Vijay Taneja, promoter of Shahrukh Khan Bollywood shows in the past in U.S. has been sentenced to imprisonment for 7 years in a $ 33 million fraud case.
The man was found guilty by a Virginia Court for running up immigrant banking fraud schemes and using the money to finance films and select Bollywood concerts. Atleast 4 US Banks were found to have been pursuing Taneja.
In his order, the U.S. District Judge Claude M Hilton also ordered Taneja to pay $33 million in compensation to these four financial institutions. Besides seven years of imprisonment, he would be subject to three years of supervised release.
His claim to fame which got him celebrity status among the NRIs was his mega shows, through which he had financial agreements set up with several Bollywood stars.
