Indian Bank Hit By Third Huge Fraud

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Punjab National Bank, one of India’s biggest state-run lenders, says a customer has defrauded it of the equivalent of $491 million, in its third multimillion-dollar fraud in as many years

Punjab National Bank said late Thursday that a customer, the ailing property lender Dewan Housing Finance Corp., had defrauded it of the equivalent of $491 million. In a separate statement, the bank said its board had approved a plan to raise about $1.

33 billion by selling shares and bonds.

 

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Isn't that about the same amount t of Mahommes new contract with Kansas City? ...interesting

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