Sachin Karpe would never have imagined that a harmless $ 5,000 transfer from a friend's UBS offshore bank account to his personal bank account in Mumbai would come back to haunt him, and wealth advisory activities of his wife, along with three others, running in the city.
The NRI is unknown friend, who was traveling in India and moved their money from UBS accounts in the European Mother's Bank branch in Mumbai Karpe account.
This single transaction investigation pointed out that the recession and how it backfired on Karpe ADAG companies and their allies to help the Indian securities is considered to cause a breach of regulations.
Also, for the first time, the role of Swiss banks in the Indian stock market was irregular transactions in fore play.
