MONEY LAUN

1. ICICI Bank, Case 19: A. Vyas, Branch Manager; A. Singhania, Key Relationship
Manager; K.S Bindra, Accounts Manager, Jaipur, Rajasthan
Mar 13, 2013
The advice here is: Get a DD from some cooperative bank or route the cash through an account
and there will be no problem Posing as a family friend of a noted politician, the Cobrapost
reporter is directed to A. Singhania who is working as Relationship Manager with this branch
of...
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ICICI Bank, Case 18: Ganpathi R., Branch Manager, Hyderabad, Andhra
Pradesh
Mar 13, 2013
“NRI account mein poora amount dump kar dena (Dump the whole amount in the NRI account)”
Our reporter tells Ganpathi R. that the money is in cash and belongs to a politician who wants to
invest it discreetly. Ganpathi tells his visitor to open an NRI account with the bank: “NRI...
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ICICI Bank, Case 17: S.Walia, Branch Manager, Chandigarh
Mar 13, 2013
“Aapko tension lene ki zaroorat nahin hai (You need not take any tension)” Walia politely brings
the Cobrapost reporter to his cabin downstairs where he advises him to opt for an insurance plan,
GSIP, with guaranteed returns: “Saara cheque se aayega…saara tax-free hoga (All the return will
come by cheque and...
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ICICI Bank, Case 16: J. Dwivedi, Investment Manager; N. Ghosh, Officer,
Faridabad, Haryana
Mar 13, 2013
“Kuch bhi comfortable hai … sab kuch comfortable hai (Anything is comfortable… everything
is comfortable).” The moment the Cobrapost journalist announces that he is there to invest a

2. large amount of money, he is taken to Investment Manager J. Dwivedi at this Faridabad branch
of ICICI Bank. Within a few seconds,...
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ICICI Bank, Case 15: A. Dubey, Assistant Manager, West Delhi
Mar 13, 2013
Showing black money as the proceeds from the sale of property is Dubey’s preferred method for
making it legitimate: “Profile hum log dikha denge ki ye hai property holder (We will show in
the profile that he is a property holder)” Posing as a frontman for a politician, the Cobrapost
journalist...
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ICICI Bank, Case 14: A. Pathak, ICICI Lombard, Mumbai, Maharashtra
Mar 13, 2013
Advising our reporter to go to HDFC Bank, this ICICI insurance advisor says the way to make
black money white is to get DDs made from a cooperative bank and then invest Oddly enough, at
this ICICI Lombard branch somewhere in Mumbai (the general insurance arm of ICICI Bank),
bank official...
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ICICI Bank, Case 13: R. Ranjan, Associate Key Relationship Manager; A.
Kumar, Deputy Branch Manager, South Delhi
Mar 13, 2013
“Mantriji’s name will not come to light ever.” – Ranjan In this branch of ICICI Bank
somewhere in South Delhi, the Cobrapost journalist is taken to meet R. Ranjan who looks after
investments.After exchanging pleasantries the reporter, posing as a relative of a politician, gets
down to brass tacks. A known...
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ICICI Bank, Case 12: L. M. Rao, Branch Manager; Ganesh, Investment
Manager, Hyderabad, Andhra Pradesh

3. Mar 13, 2013
“Cash kab dega sir humko?…Kal subah aake hum collect kar sakte hain (When will you give us
the cash, Sir … We can come and collect it the next morning)” – L. M. Rao At this branch of
ICICI Bank in Hyderabad, the Cobrapost reporter, posing as a relative of a...
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ICICI Bank, Case 11: R.Bhardwaj, Branch Manager; H. Chandra, Branch Sales
Manager, Faridabad, Haryana
Mar 13, 2013
“Black ko white karne ka yehi sabse best tarika hai (This is the best way to turn black money
into white)” Here, H. Chandra and R. Bhardwaj are welcoming and resourceful. On hearing the
story about the politician, Bhardwaj suggests: Open an account and deposit the cash. There is no
problem...
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ICICI Bank, Case 10: A.S. Kumarakrishnan, Branch Sales Manager, Chennai,
Tamil Nadu
Mar 13, 2013
“Ismein cash daalna… uske baad sab kuchh wahan se main lena hai (Put in the cash in it after
which I would take all from there)” The Cobrapost reporter goes through the same ritual at this
branch somewhere in Chennai. After meeting various bank officials, he is Branch Sales Manager
A.S....
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ICICI Bank, Case 9: R. Sharma, Branch Manager, Faridabad, Haryana
Mar 13, 2013
“We can discuss and figure something out” It was the inauguration day at this branch of ICICI
Bank somewhere in Faridabad. Amid the festive mood our reporter first meets Mohit and tells
him why he is there. Sometime later Mohit introduces him to Ratan, who works as investment
advisor with the...
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4. ICICI Bank, Case 8: K. R. Rao, Key Relationship Manager, ICICI Prudential,
Hyderabad, Andhra Pradesh
Mar 13, 2013
For this banker, it helps when a client speaks openly about black money. Says K.R. Rao,
“Whenever you are hiding something dono ko hi mushkil ho jayega (it will be difficult for both)”
Branch Relationship Manager K.R.Rao in Hyderabad understands the needs of high-value clients
and is very co-operative. When told...
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ICICI Bank, Case 7: Deepanshu, Branch Manager; H. Maheshwari, Assitant
Manager, Aligarh, Uttar Pradesh
Mar 13, 2013
“We will make some jugaad for you” At this ICICI Bank branch in Aligarh, the Cobrapost
reporter meets a busy H. Maheshwari who takes him to the Branch Manager, Deepanshu. Since
Deepanshu joined the branch quite recently, it is Maheshwari who does most of the talking.
What is the source of...
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ICICI Bank, Case 6: J. Suneja, Cluster Head; Neeraj, Relationship
Banking/Privilege Banking, Central Delhi
Mar 13, 2013
The complicity permeates all levels, with senior managers as willing as junior staff to turn black
into white because it is a common practice for them: “Sir, sachi baat ye hai aap bol rahe hain.
Ninenty-nine per cent log karte hain wo bolte nahin hain (Sir, the truth is that...
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ICICI Bank, Case 5: S. A. Ahuja, Senior Financial Service Manager; G. Raikar,
Manager, Bangalore, Karnataka
Mar 13, 2013
Here, the suggested route for laundering black money is to show the fictitious politician as an
NRI Posing as a businessman who wants to move to Bangalore, the Cobrapost journalist walks

5. into this branch of ICICI Bank somewhere in Bangalore where the receptionist directs him to
Senior Financial Service Manager S....
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ICICI Bank, Case 4: N. Kumar, Business Manager; Aastha, Deputy Branch
Manager, Noida, Uttar Pradesh
Mar 13, 2013
A stream of reassurances from Kumar and Aastha on how to turn black money into white
The Cobrapost journalist strolls into this Noida branch of ICICI Bank in Uttar Pradesh and
recites his request to Business Manager N. Kumar: a well-known minister wants to invest a
‘handsome amount’ of black...
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ICICI Bank, Case 3: Gayathri, Branch Manager; C. Sridhar, Sr. Customer
Service Associate (Operations), Bangalore, Karnataka
Mar 13, 2013
Gayathri and Sridhar understand instantly that black money has to be turned into white
because they deal with so many such customers The guard at this branch of ICICI Bank
somewhere in Bangalore directs the Cobrapost reporter to Branch Manager Gayathri. The
Cobrapost reporter gives her the same spiel. Initially,...
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ICICI Bank, Case 2: R. Gupta, Branch Manager, ICICI Prudential, Agra
Mar 13, 2013
Why it is not good to invest with banks: “Saara paisa aap doh number mein nahin laga
payenge (You will not be able to invest all in No. 2)” ICICI Prudential is a sister arm of ICICI
Bank. Here, once the pleasantries are over, the reporter tells Branch Manager R. Gupta...
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ICICI Bank, Case 1: V. Srivastava, Privilege Banker, Central Delhi

6. Mar 13, 2013
“Kya ghumana hai kaise ghumana hai bata doonga main (What has to be manipulated and
how I will tell you all)” “Returns main saare white mein kara deta hun (I will make all the
returns white)” Walking into this Central Delhi branch of ICICI Bank in the national capital,...
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ICICI Bank:True to its Motto, Khayal Aapka, ICICI Welcomes Tainted Money
to Make It Clean
Mar 13, 2013
A countrywide undercover investigation by Cobrapost finds ICICI Bank committing gross
violations of the Income Tax Act, FEMA, RBI regulations and the anti-Money Laundering Act.
These activities render the vast assets it manages, the deposits it maintains, the profits it makes,
and the spectacular growth it has registered, suspect. It was...
- See more at: http://www.cobrapost.com/index.php/topics?cid=28#sthash.U2reLAea.dpuf