When the loot becomes a lottery
Looters have havens when an economy thrives on the bounty. In 1992, India signed a Financial Criminal Extradition Treaty with Britain. In 28 years since then none, but one runaway Indian rich man could be brought back to India for any financial crime. The treaty was almost a farce.
There is a strange British law on the extradition of financial criminals who migrate to Britain or the Virgin Islands under its control. Most of the countries which signed the treaty hardly got back any of their runaway looters, because Great Britain has framed the law that binds the black money in such a way that it only encourages looters, who send their money into the haven. The British wealth management industry has been flourishing on this staggering looted wealth.
Financial criminals from many parts of the world, including Africa and Russia, are flocking to the UK in search of safety. Today, British Wealth Management handles $ 800 billion in counterfeit money. Between 2007 and 2015, the value of Indian smugglers who smuggled their bounty into the UK was an astounding $ 129 billion. In 1992, India signed a Financial Criminal Extradition Treaty with Britain. That was, in effect, a farce. In 2016, for the first time since then, only one convict was brought to India.
Nevertheless, the UK FCA, which regulates financial crime, has not taken action against anyone since 2007. They have enacted this law so efficiently. Moreover, they are ready to protect the criminals by using extraordinary intellectuals to distort the law.
There are law firms in the UK like Indian law and in-depth boutique law to help people like Vijay Mallya and Neerav Modi from India escape every English law. Rich looters are unusually brilliant with bounty to hire sharpest brains.
The British government, no doubt, has cleverly enacted a law to protect those fleeing with the plundered property. Despite global pressures, this remains unchanged. None of these pressures is a problem for Britain. It silently enjoys the looters’extravaganza.
Vijay Mallya’s lawyer Anand Dubey was appointed to review the FCA Act when former British Prime Minister Tressa May was former Home Secretary. Mallya needs no better brain to defend him. Anand Dubey knows how to rescue Vijay Mallya from the threat of jailing in India. In Great Britain and the Virgin Islands, financial criminals who come up with huge plundered money enrich the British Wealth Management industry. The loot becomes a lottery.