How JP Morgan plotted with Amrapali Group to occupy reserves, trick homebuyers

1. BUSINESS STANDARD How JP Morgan plotted with Amrapali Group to occupy reserves, trick homebuyers JPMorgan put around Rs 85 crore in an Amrapali Group organization's shares and later sold them to an office boy and nephew of the evaluator for Rs 140 crore

2. A JPMorgan Chase and Co unit damaged India's outside speculation leads and helped property designer Amrapali Group occupy assets from realty extends, the country's Supreme Court said in a decision and requested an examination. The court on Tuesday requested the government hostile to tax evasion office to research Amrapali, situated in Noida, close New Delhi, for redirecting reserves abroad with the assistance of JPMorgan and others. The infringement, in view of a criminological review, extend from ignoring outside venture standards, paying profit without producing benefits, setting up phony organizations and exaggerating shares. JPMorgan's Singapore-based representative Chris Cockerill declined to remark. The greatest US bank is permitted to look for a survey of the decision. Any criminal accusations might be recorded in a lower court once examination is finished. Read More