As the UK Crown Prosecution presents evidence collated by the CBI in the extradition case of fugitive tycoon Vijay Mallya, there is fresh evidence that Mallya could be in trouble with the British authorities as well. The Serious Fraud Office (SFO), London has shared crucial details of alleged fraud committed by the tycoon using British companies in the past one year after he fled India on March 2. Mallya has invested enough in the UK to earn a permanent residency status to evade the law for an economic offense committed in India. The plush piece of real estate, Ladywalk, that Mallya bought from F1 champ Hamilton Lewis was done so with Indian tax payers' money. In all, $6.1 million was paid to a British firm, Continental Administrative Services, from Kingfisher Airlines' HSBC account in London.

Source: India Today December 04, 2017 15:00 UTC