December 23 2015
Although it has businesses ranging from finance and property to media and Formula One motor racing, India’s troubled Sahara has never been very transparent on the source and use of the billions of dollars it has raised from mostly small investors.
Suspicions have swirled for years that many of Sahara’s millions of investors are fictitious names.
A team of officials from the Enforcement Directorate, which is responsible for fighting economic crime, last month visited Sahara headquarters in Lucknow to gather data as part of a probe into possible money laundering, said two department officials.