By Our Monitoring Desk
Controversial Canadian-Indian businessman Sri Ram Tumuluri was lately arrested by the Dubai police – as a part of a monetary corruption investigation – over a number of bounced cheques. He stays on bail and below investigation within the Center Jap state.
The Authorities have stated that the investigation is ongoing, and that Tumuluri might be banned from the nation if he doesn’t settle his money owed.
Following his arrest, this report takes a deeper look into the murky world of Ram Tumuluri’s enterprise dealings the world over. Indian and American media have this week written intimately a couple of trial of deception and lies which traces its roots to Canada and India.
The journalist’s killing
The report mentions how Celebrated Malta journalist Daphne Caruana Galizia, who was killed in October 2017 in a automotive bomb close to her dwelling inside weeks after saying that she can be exposing a number of monetary scandals of controversial Canadian-Indian businessman Sri Ram Tumuluri, spent a number of years investigating Ram Tumuluri until her tragic homicide.
Though Maltese nationwide brothers George Degiorgio and his brother Alfred have confessed to the killing however shut associates of Daphne Caruana Galizia have stated the Malta authorities haven’t investigated the homicide correctly and a number of other questions stay unanswered.
The murdered journalist had written intimately in regards to the monetary crimes of Sri Ram Tumuluri. The journalist, who had additionally labored on Panama Papers scandal, had written dozens of articles on Sri Rama Tumuluri and was set to launch an enormous story when she was killed. Her assassination rocked Malta.
By means of her “Running Commentary” weblog, Daphne Caruana Galizia devoted a substantial period of time and useful resource to exposing Ram Tumuluri. Earlier than her premature loss of life, in numerous articles on her standard web site, she described Ram Tumuluri as:
Ram Tumuluri “a fraudster with a shedload of unpaid debts in Canada” https://daphnecaruanagalizia.com/2017/05/memory-box-muscat-sacked-godfrey-farrugia-made-konrad-mizzi-health-minister-instead/ and Ram Tumuluri “ultra-shady Ram Tumuluri” https://daphnecaruanagalizia.com/2017/05/heres-picture-head-civil-service-celebrating-labour-hq-2013/ and Ram Tumuluri “corrupt incompetent” Ram Tumuluri https://daphnecaruanagalizia.com/2016/11/told-moment-ever-one-ill-gracious/ and Ram Tumuluri “the man of questionable repute” who corrupted nurses https://daphnecaruanagalizia.com/2017/01/ram-tumuluri-gives-doctors-nursing-staff-zara-vouchers-free-drinks-buy-support/ and Ram Tumuluri “the fraudster and cheat from India by way of British Columbia” and Ram Tumuluri “the shyster from British Columbia” who had “stolen $400,000 from hotel bank accounts” in British Columbia and “destroyed the accounting books and left”
Mark Pawley is understood for working Oxley Capital out of Singapore and doing shady offers. Just lately, Ram Tumuluri has claimed that he needed to flee Malta as a result of a senior politician threatened him with the same destiny because the assassinated journalist.
Nonetheless, the workplace of the politician has stated that Ram Tumuluri’s claims are ludicrously wild and plainly false and he’s mendacity in an effort to save his pores and skin by throwing others below the bus. Whereas working in Malta, the native media reported that Ram Tumuluri had an affair with Deborah Chappell, Maltese lawyer and former director of Technoline. Native intelligence has stated that Daphne Caruana-Galizia was additionally within the means of writing on this matter and the involvement of one other politician in it however she was killed.
Corrupt funds to Govt official
Ram Tumuluri was lately thrust again into limelight after proof emerged that his UK-based Causis Group made a number of undeclared and corrupt funds in 2015 to Carmen Ciantar, the chief political advisor of Malta’s well being minister Chris Fearne.
She resigned from her position after proof was launched that Carmen Ciantar acquired a complete of €443,500 Euros from Gozo Worldwide Medicare Ltd – a part of the VGH group. The cash got here from the agency’s account on the Dubai-headquartered Emirates NBD Financial institution.
Inside just a few months of the transfers, in accordance with native day by day the Instances of Malta, she had gone to work as the top of Fearne’s election marketing campaign – throughout which era he additionally appointed her CEO of FMS.
It’s understood that Malta authorities are searching for to talk to Ram Tumuluri however he has refused to go to the nation to cooperate with the inquiry. He has stated by means of his legal professionals he has performed nothing incorrect by making these funds which had been, in accordance with his phrases, for a enterprise deal.
Everlasting misleading sample:
In all his operations, Ram Tumuluri has a constant sample: he presents traders with offers he doesn’t himself have the funds to put money into; portrays them as straightforward cash alternatives; units up an opaque offshore company construction; pulls in his associates and previous enterprise connections; obtains partial funding for the venture; walks away from the venture with any funds invested, having purposefully did not file accounts; and strikes on to another venture.
By sustaining a low stage of tangible property (i.e. renting reasonably than proudly owning property), even in litigious conditions, the plaintiffs are unable to make claims against any vital sources owned in Tumuluri’s title. An evaluation of public data exhibits Tumuluri has persistently did not file annual returns in firms he integrated in India, the US, Canada and Singapore thereby not accounting for the place the funds have gone.
Early profession:
Ram Tumuluri was born within the Indian metropolis of Hyderabad to Satynarayana Tumuluri and Bharti Tumuluri, a Brahmin center class household with no enterprise historical past. Ram Tumuluri has claimed he acquired an undergraduate diploma from Osmania College in Culinary Arts. Osmania College stated it doesn’t supply culinary programs. The controversial businessman has claimed that he went to the London College of Economics (LSE) however the LSE administration has stated it has no file of Ram Tumuluri ever enrolling in any self-discipline or ever graduating from the celebrated establishment. The LSE says it has despatched a letter to Ram Tumuluri to cease making false representations.
After submitting for chapter in Canada in 2014, Ram Tumuluri was in such dire state of affairs that he joined the “stay with a stranger for free network” in Singapore, with out having to pay resort payments or hire. Couchsurfing is an internet-based community by technique of which members search for someplace to remain without cost, a whole stranger’s dwelling, when travelling or shifting to a brand new place. So in 2014 Tumuluri was seeking to sleep on strangers’ sofas when he left Canada (and his monetary troubles there) for Singapore however in January 2015 he was reducing huge offers, gaining funds and later working them within the pit.
Indian failures:
In India, Ram Tumuluri established the Ayucare model below his firm Holistic Healthcare. The businessman has fostered the impression that his firm had taken the nation by a storm; in actuality one of many most important spas was a bungalow in a residential space and the enterprise folded after just a few years after making large losses. In 2008 his automobile Tumuluri Hospitality Inc invested INR10m (equal to US$230k) within the firm. On the time this was a major funding contemplating just a few years earlier than, Ram Tumuluri had left Marriott Inns in Alberta, Canada to work as senior supervisor of the Wickaninnish Inn in Tofino, Canada. The funding led to a failure and at present there isn’t any signage for Ayucare or Holistic Well being and a banner promoting the leasing of the property hangs exterior.
Tumuluri and his spouse Sonya, the one two registered officers for the corporate, by no means fulfilled any of the obligatory submitting necessities of the Canadian firms registry after registering the corporate. The Canadian authorities then dissolved the corporate for non-compliance.
United States of America:
In the US, Ram Tumuluri married Phrasavath Douangmala and so they divorced in April 2003. His historical past within the US spans from roughly 1998 till 2004. He resided in Chicago, Illinois. Within the divorce data, Tumuluri’s date of beginning within the Milwaukee County divorce courtroom paperwork is recorded as September reasonably than Might 1975. It’s unclear whether or not this was a deliberate try and keep away from leaving a path. Company registries within the US have Tumuluri as director of an actual property growth firm struck off in 2014 for not submitting annual returns. Tumuluri is recognized in US data with social safety quantity 340 ***1 issued in Illinois in 1998. Phrasavath Douangmala runs an assisted residing facility named Douangmala Phrasavath Grownup Household Dwelling for people with disabilities, which seems to be situated at her residence
Company directorship checks file Tumuluri as beforehand the president and director of Venturex Hawaii Funding Company, integrated in Hawaii in Might 2003 and dissolved in December 2014 for not submitting an annual report. The opposite particular person listed, Mamoru Hamanishi, traces back to British Columbia and is linked to Tumuluri there
Canada bankruptcies and failures:
Tumuluri subsequently moved to Canada, the place his enterprise practices set the hallmark for a sample of behaviour repeated all through his profession thus far. All his companies had been dissolved resulting from non-filing of firm accounts. Litigation data spell out the small print of claims corresponding to misuse of firm funds and failure to supply accounting data to enterprise companions. His tasks all failed and left behind a string of claims by collectors starting from mortgage suppliers to smaller unpaid suppliers. Notably, all through his interval in Canada, Tumuluri owned a property on just one event.
Federal and state paperwork in Canada file Tumuluri having integrated seven firms since 2006. Just one stays active; the remaining six had been dissolved for failure to file firm data. Between 2005 and 2010 he grew to become concerned within the buy and administration of two resort tasks in British Columbia; one at Nita Lake Lodge (NLL Holdings) the place he teamed with Praveen Varshney, a enterprise fraught with allegations of monetary mismanagement and misuse of firm funds, and the opposite at Cable Cove Inn & Spa which led to authorized proceedings resulting from defaulted mortgage funds. Each grew to become embroiled in litigation proceedings. In registering the seven Canadian firms Tumuluri utilised a number of bodily and postal field addresses. They had been all short-term as none had been discovered to be owned by him, his spouse or their related companies. Ram Tumuluri took over the Nita Lake Lodge in Whistler, British Columbia, Canada in March 2010, and in December of the next 12 months he had declared chapter.
The Russia connection:
Investigation in an American publication has revealed that Sri Ram Tumuluri’s accomplice within the Indian Rs2,800-crore electrical buses deal, Thomas-Christan Seitz is understood for shut ties with the Kremlin and has labored for the pursuits of Russia’s feared spy company KGB – now known as the International Intelligence Service (SVR).
Two years in the past, Ram Tumuluri’s England & Wales registered Causis Group Ltd received a young for supplying The Brihanmumbai Electrical Provide and Transport (BEST) with 1,400 electrical autos. Causis, registered within the UK however with none operations, is wholly owned by Tumuluri. Its working entity is India-registered Causis E-Mobility Pvt Ltd. The Russian connection of Ram Tumuluri was coated very extensively.
The Causis scandal
In accordance with a forensic examine by the publication, Causis acquired a 100% stake of German-registered Eurabus GmbH in September 2021. Eurabus was based and previously owned by Thomas-Christan Seitz. Eurabus has beforehand claimed to be within the means of opening EV factories in Azerbaijan, Kazakhstan, Georgia and presumably Tanzania.
Causis Group Ltd was integrated in England and Wales on 11 June 2021 below firm quantity 13452464 and the corporate is 100% owned by Jersey-incorporated New Horizons Investments Restricted, which in flip is 100% owned by Tumuluri, papers present. Causis Group’s statutory Administrators are Tumuluri, Peter Knez, Charles Paul Rowan, Thomas-Christian Seitz and Gary Anthony Dugan.
Examination of authentic German company filings reveals that Eurabus GmbH was registered on 02 July 2015 below firm quantity HRB 168446B. Eurabus GmbH’s preliminary share capital was €25,000 and was 100% owned by Euracom Group GmbH, an organization managed and managed by Seitz. On 31 October 2019, Eurabus GmbH elevated its share capital to €1.105 million. On 30 September 2021 Causis Group Ltd acquired 100% stake in Eurabus GmbH from Euracom Group GmbH.
Seitz grew up within the former German Democratic Republic (GDR) and attended the notorious Moscow State Institute of Worldwide Relations (MGIMO), the place 50% of the graduates are alleged to have gone into the Soviet diplomatic service and 50% into the KGB, stated the publication.
A journalist who knew of Seitz and wrote a narrative about him and his actions in 2008 famous that Seitz graduated from the MGIMO in 1992. The journalist’s article, entitled “The Russians are Coming” within the day by day newspaper Die Welt, described Seitz as related to two Russian “security foundations” intently linked with Vladimir Putin.
Within the article, Seitz is described as “Vice President” of the “Security Academy Waldmünchen” in Bavaria that was a department of the “Academy for Legal Order, Security, and Defense Matters” in Moscow. The Academy was based by Vladimir Putin himself. Putin is described as “Member No. 1”.
The article additionally states that Seitz and the academy had been intently related to an organisation known as the “International Counterterrorism Association,” additionally in Moscow. That organisation in Germany, the article notes, could be related to Karlshorst, Berlin the place the KGB had its headquarters.
Expose in Indian media:
Ram Tumuluri’s newest The Brihanmumbai Electrical Provide and Transport (BEST) venture is an enormous scandal. He signed with the Indian govt in October 2021. The venture was set to begin inside two months however thus far there isn’t any signal of the venture making any headway and Indian authorities have briefed media that Ram Tumuluri has failed to lift funds of round $8 billion to implement the Rs2,800-crore electrical buses take care of the Mumbai authorities.
Indian govt sources stated: “Causis is using the Memorandum of Understanding (MoU) with Maharashtra Government as a security but banks are demanding sovereign guarantee from the state government, which has not been approved by the government. Causis is struggling to arrange debt and their efforts are ongoing but it is evident Causis has so far failed to find any credible lenders. On paper, there are lots of promises but there is zero delivery so far.”
The Mumbai authority fears that Ram Tumuluri might defraud his traders and enterprise companions as Causis doesn’t have manufacturing or technical capabilities.
In accordance with an article by Indian information outlet The Indian Specific, Causis received a young for supplying The Brihanmumbai Electrical Provide and Transport (BEST) with 1,400 electrical buses. In October 2021, the Maharashtra state authorities, within the presence of setting minister Aaditya Thackeray and trade minister Subhash Desai, signed the contract for Rs 2,800 crore ($370,000).
Maltese information outlet The Shift Information reported Tumuluri’s Electrical Automobiles enterprise in an article titled “Ram Tumuluri suspected of replicating ‘fraudulent’ Malta VGH model in Mumbai” – a reference to an enormous well being scare scandal in Malta.
Dubai investigation
Tumuluri claims to have two UAE entities, Mount Everest International Buying and selling and VGH Dubai. Data present he did try to lift funding within the UAE for the Malta PPP venture however this was not profitable. He was facilitated on this by means of the workplace and contacts of Mohammed Hanif Shaikh, Chairman of Emirates Holding Group. Each firms have shut their operations after failures. Intelligence experiences say Ram Tumuluri has lately been questioned by the Dubai authorities for utilizing the nation as a pad to do corrupt offers. The intelligence supply stated that the Dubai govt acted over intelligence experiences from its western counterparts.
Montenegro dealings:
Tumuluri secured a Public Non-public Partnership (PPP) contract in Montenegro, allegedly because of corruption coming from the inside circles of the Presidency, in accordance with media experiences within the nation. The deal was cancelled when it transpired that he had paid bribes to native politicians.
Investigation exhibits that a number of enterprise associates of Ram Tumuluri have been accused of questionable enterprise dealings or been linked to fraud, misappropriation or inventory alternate manipulation. None of them have a confirmed observe file of great industrial success, regardless of their claims on the contrary. The modus operandi of Mark Pawley and others matches that of Tumuluri: all of them promise their traders profitable funding alternatives which after the primary spherical of investments is then declared as unsuccessful. The traders are left bearing the loss. Tumuluri et al transfer on to arrange new projec
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