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Indian-American Man's Rs 8,300 Crore Fraud shakes USA July 02, 2024 07:59

An Indian-American entrepreneur, Rishi Shah, the former multimillionaire co-founder of Outcome Health, has been sentenced to seven and a half years in prison by a US court. The case involves a massive ₹ 8,300 crore ($1 billion) fraud scheme that shook prominent investors like Goldman Sachs Group Inc., Google's parent Alphabet Inc., and Illinois Governor JB Pritzker's venture capital firm. The verdict, delivered by US District Judge Thomas Durkin, closed the chapter on one of the largest corporate deception cases in recent times. According to a Bloomberg report, Outcome Health was Mr. Shah's brainchild during his university days. Originally named Context Media Health, the company was established in 2006 with the goal of revolutionizing medical advertising by installing televisions at doctors' offices to stream health-related ads aimed at patients. Mr. Shah teamed up with his co-founder Shradha Agrawal, and the company's valuation grew exponentially as it sought to bridge the communication gap between patients and healthcare providers through innovative ad placements. By the mid-2010s, Outcome Health had become a major player in the tech and healthcare investment communities. The promise of integrating cutting-edge technology into traditional healthcare marketing attracted high-profile investors. Outcome Health, the company co-founded by Mr. Shah, was experiencing a meteoric rise, amassing substantial funds and clientele, making him a prominent figure in Chicago's corporate circles. However, the shiny exterior concealed a crumbling foundation. Prosecutors alleged that Mr. Shah, along with Ms. Agarwal and another defendant, the chief financial officer Brad Purdy, orchestrated a massive fraud scheme against investors, clients, and lenders. They misrepresented the operational and financial health of the company, selling more advertising inventory than they could actually deliver and fabricating data to cover up the shortfall. This deception extended to pharmaceutical giant Novo Nordisk A/S and other clients, as they misled them about the company's network size and ad reach. The misleading information, combined with fraudulent data, painted a picture of exponential revenue growth, luring further investment and financial backing. Meanwhile, Mr. Shah lived an extravagant lifestyle, indulging in exotic trips with private jets and yachts, even purchasing a $10 million home, all funded by the inflated ad sales and investments. The company had been engaging in deceptive financial reporting methods, concealing the true state of its finances from the public. The illusion crumbled in 2017 when a media investigation by the Wall Street Journal exposed the fraudulent activities. Later, a group of investors, including Goldman Sachs, Alphabet, and Governor Pritzker's firm, filed lawsuits against Outcome Health, accusing the company of fraud in its $487.5 million fundraising earlier that year. The fundraiser had provided a $225 million dividend for Mr. Shah and Ms. Agarwal, but left investors with a significantly overvalued stake in a company on the verge of collapse. Mr. Shah was charged with over a dozen counts of fraud and money laundering, and was convicted on these charges in April 2023. He was joined by Ms. Agarwal and Mr. Purdy. While the prosecutors sought 15 years for Mr. Shah and 10 years for his co-conspirators, the final rulings by District Judge Durkin were inconsistent, including a three-year sentence for Ms. Agarwal in a halfway house and a two-year and three-month sentence in prison for Mr. Purdy. Alongside the criminal case, the US Securities and Exchange Commission has also filed a civil action against Mr. Shah, Ms. Agarwal, Mr. Purdy, and the former chief growth officer, Ashik Desai. Employees had acknowledged their guilt even before the trial commenced. Mr. Shah, facing health issues, expressed remorse and took accountability during the sentencing. In a pre-written statement, he admitted to failing in properly overseeing the rapid expansion of Outcome Health and fostering a corporate environment that enabled deceptive methods. He conveyed feelings of "shame and embarrassment" over the misconduct that ultimately led to the company's demise. "The culture I cultivated allowed my team to believe falsifying data in response to client inquiries was acceptable," he acknowledged.

Australia doubles student visa fees to curb Migration July 01, 2024 10:51

The Australian government has introduced a significant increase in the fees for international students, more than doubling the cost from AUD 710 ($473) to AUD 1,600 ($1,068). This new measure, implemented by the Anthony Albanese government, effective July 1, aims to curb the high influx of migrants that has put pressure on the housing market. The move is likely to affect Indian students, who make up the second-largest group of international students in Australia. Additionally, temporary visa holders, such as those on Temporary Graduate, Visitor, and Maritime Crew visas, will no longer be eligible to apply for a student visa while they are in the country. This change will impact thousands of Indian students currently residing in Australia. The Minister for Home Affairs and Cyber Security, Clare O'Neil, stated that "The changes coming into force today will help restore integrity to our international education system, and create a migration system which is fairer, smaller and better able to deliver for Australia." The Australian government's crackdown is intended to ensure that only genuine students are granted visas, thereby supporting the country's economic growth. The recent government data reveals a substantial influx of Indian students into Australian educational institutions. In 2022, over 100,000 Indian students were enrolled, and this number grew to 1.22 lakh during the January-September 2023 period. However, the increasing costs associated with obtaining an Australian student visa have made it significantly more expensive compared to options in the United States and Canada, where the fees are around $185 and CAD 150 ($110), respectively, as reported by Reuters. In response, the Australian government has announced measures to close loopholes in visa regulations that allowed foreign students to extend their stay repeatedly. This decision comes after observing a surge of over 30% in the number of students holding a second or subsequent student visa, reaching more than 150,000 in the 2022–23 academic year. Additionally, the government has raised the minimum savings requirement for student visas from AUD 24,505 ($16,146) to AUD 29,710 ($19,576).

US proposes plan to scrap additional security checks for Indians June 28, 2024 07:17

As part of an effort to streamline international air travel, the US Transportation Security Administration (TSA) has proposed a "one-stop agreement" with India that would eliminate the need to re-screen passengers and luggage at transit points. At the India-US Aviation Summit in Washington, TSA Director David Pekoske highlighted the feasibility and benefits of the concept. The one-stop security concept simplifies the travel process as connecting flights in different countries do not require additional security checks for passengers and their checked baggage. “This concept facilitates the flow of passengers and luggage to their destination by eliminating double security checks at transit points,” explained Pekoske. Mr. Pekosuke highlighted the security benefits, noting that such an agreement would increase the safety of incoming flights to both countries. He said: “The continuation of this agreement requires regular exchange of information and improvement of security processes”. A memorandum of understanding is required for the exchange of sensitive security information between the two countries. “We have categories of information that are not truly classified, but are so sensitive that they require additional protection,” Pekoske said. Pekoske examined the origins of the TSA and India's road safety measures and found that both measures resulted from tragic events. For India, it was the bombing of Air India Flight 182 in 1985 and for TSA, the terrorist attacks of September 11, 2001. “These tragic events marked a paradigm shift in the way we both think about road safety, and that continues until today,” he said. At the summit, US Aviation Secretary Michael Whittaker said: “Safety is a team sport. That is.” Mr. Whittaker emphasized the interconnectedness of the US and Indian aviation systems, which are part of a single global network. “We need to work together on security issues and share ideas and innovations, particularly on how we can safely bring some of these new technologies into our airspace,” he said. The cooperation between the two countries aims to improve the overall safety of the global aviation system by sharing best practices and learning from each other. Whittaker emphasized the importance of proactive data analysis in accident prevention. "Our goal is to raise safety to a new level. This means we need to proactively analyze data to identify risks of disruption and mitigate those risks before they happen,” he added.

Indian Man Shot Dead During Texas Robbery June 24, 2024 08:00

A 32-year-old Indian man was shot in a robbery incident that took place in USA in the state of Texas and the tragic indicent took place in a grocery store. Dasari Gopikrishna, a native of Andhra Pradesh's Bapatla district, arrived in America just eight months ago. The incident happened on June 21 at a gas station in Pleasant Grove, Dallas. The DC Consul General was in Dallas on Sunday for Yoga Day. Manjunath confirmed to PTI that the incident was not related to the Arkansas shooting. As various sources have already reported. Condolences to the Gopikrishna family, Mr. Manjunath said, “We are contacting the local family members after learning of the tragic death of Gopi Krishna Dasari of Indian origin at Pleasant Grove, Dallas, Texas.” A resident of #AndhraPradesh died in #America. Gopikrishna native of Bapatla district is residing in America. Gopikrishna was injured in a shooting at a store in Dallas. He died while undergoing treatment at the hospital. Gopikrishna went to America 11 months ago. pic.twitter.com/s9yY2eVP6b — Sowmith Yakkati (@YakkatiSowmith) June 23, 2024 The Consulate General of India, with the support of Indian associations, will provide all assistance in repatriating Mr. Gopikrishna's body to India, with local formalities including autopsy and issuance of death certificates. Mr Gopikrishna sustained serious injuries during the robbery and was taken to a nearby hospital where he succumbed to his injuries on Sunday morning. The incident deeply affected the Indian community in and around Dallas. Mr. Gopikrishna is survived by his wife and son.

Shocking: 40 Indians killed in Kuwait Fire Accident June 13, 2024 06:52

Tragedy struck in Mangaf city, Kuwait, as a fire broke out in a building housing 195 Indian workers, claiming the lives of 40 individuals and injuring 50 more. The blaze, which started in the kitchen of the six-story structure, occurred at 6 AM local time (9 AM IST). Sadly, the majority of the casualties were caused by smoke inhalation while the residents slept. Prime Minister Narendra Modi has responded swiftly, holding a high-level review and announcing a compensation of ₹ 2 lakh for each of the families who lost a loved one. Additionally, the Minister of State, Shri Kirti Vardhan Singh, is immediately traveling to Kuwait to facilitate the repatriation of the deceased and provide medical assistance to the injured. The victims are currently receiving treatment in five government hospitals across Kuwait, as the nation grapples with this devastating incident. The Kuwaiti authorities have assured the Indian government that they will thoroughly investigate the incident and hold those responsible accountable. The Indian embassy in Kuwait has established a helpline for family members to get in touch, and the Indian ambassador has visited the affected areas. The Emir of Kuwait has ordered an investigation, and the First Deputy Prime Minister has directed the arrest of the building's owner, janitor, and the owner of the company responsible for the workers, pending the completion of the investigation. The majority of the admitted patients are stable, and the Indian government is closely monitoring the situation and pushing for the early repatriation of the bodies of those who lost their lives. The migrant workers who perished in the recent tragedy in Kuwait made up a significant portion of the country's population and workforce. Tragically, the victims included individuals from Pakistan, the Philippines, Egypt, and Nepal, in addition to Kuwaiti nationals. This devastating incident has highlighted the precarious situation faced by many migrant laborers in the region.

Schengen Visa: Europe Trip Gets Costlier from Today June 11, 2024 11:00

Starting today, June 11, 2024, travelers to Europe will face higher visa application fees. The European Commission has implemented a 12% increase in Schengen Visa fees, affecting applicants worldwide. This move aligns with the bloc's efforts to boost tourism in the region. Under the new fee structure, adult applicants will now pay €90, up from €80, and children aged 6-12 will pay €45, increased from €40. Countries deemed uncooperative with the EU's repatriation efforts will experience steeper hikes, with fees reaching €135 or €180. The Slovenian government has confirmed the European Commission's decision to raise short-stay Schengen visa (visa type C) fees globally by 12%, effective from June 11, 2024. The Commission cites inflation and rising civil servant salaries as justifications for this increase, which follows a scheduled review of EU visa fees that took place in December 2023, as required by the Schengen Visa Code every three years. The Schengen visa system encompasses a group of European nations, including Austria, Belgium, Bulgaria, Croatia, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, the Netherlands, Norway (though not officially a member, it adheres to the regulations), Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and Switzerland. This development has brought disappointment, particularly for Turkish citizens who have long awaited a visa-free travel agreement with the EU. In 2023, the Schengen region experienced a significant increase in short-stay visa applications, reaching over 10.3 million, representing a 37% year-on-year rise. However, this figure still falls short of the pre-pandemic peak of 17 million applications received in 2019. India secured the third position in terms of visa applications for Europe, with a total of 966,687 submissions. The recent visa fee hike coincides with Europe's efforts to attract tourists from around the globe. Notably, on April 18, 2024, the European Commission introduced a new visa regime specifically for Indian citizens residing in India, referred to as a "visa cascade", which includes easier access to multi-entry visas, rewarding positive visa history, and the potential for a five-year visa.

India plans to simplify immigration checks for international trips June 08, 2024 12:50

Officials say India is considering simplifying immigration rules and increasing staff at major Indian airports to speed up the immigration process. The government wants to develop India's airports as a transport hub for South Asia,…

Telugu girl Nitheesha Kandula goes missing in Los Angeles June 03, 2024 11:06

A mysterious disappearance has left authorities in California searching for a young Indian student. Nitheesha Kandula, a 23-year-old enrolled at California State University, San Bernardino (CSUSB), was last seen in Los Angeles on May 28th. Her family reported her missing two days later. CSUSB Police Chief John Guttierez has appealed to the public for any information regarding Kandula's whereabouts, sharing her physical description and the details of the car she may have been driving, a 2021 Toyota Corolla with a California license plate. Law enforcement agencies, including the CSUSB Police and the Los Angeles Police Department, are working together to locate the missing student. The circumstances surrounding her disappearance remain unclear. This incident comes just a month after another Indian student, Rupesh Chandra Chintakindi, 26, went missing in Chicago. Authorities are urging anyone with relevant information to contact the CSUSB Police Department or the LAPD's Southwest Division, in the hopes of bringing Nitheesha Kandula home safely. In April, a young man from Hyderabad named Mohammed Abdul Arfath, aged 25, was tragically found deceased in Cleveland after disappearing in March. Additionally, in December 2023, the FBI escalated its search efforts for 29-year-old Mayushi Bhagat, an Indian student who vanished in the US after leaving her New Jersey apartment on April 29, 2019. She was reported missing on May 1 of the same year. The FBI is now offering a substantial $10,000 reward for any information that could lead to the discovery of Mayushi Bhagat's whereabouts. The FBI's website states, "We are offering a reward of up to $10,000 for details that could assist in locating or recovering the missing person, Mayushi Bhagat, and for the identification, arrest, and conviction of the individual(s) responsible."

Challenges and opportunities for Indian students Abroad June 01, 2024 14:48

For decades, studying abroad has been a cherished dream for countless Indian students, opening the door to career advancement and global knowledge in search of a better future. According to the India Student Mobility Report…

Telangana girl hit by Speeding Car While Crossing Road In US May 28, 2024 10:15

A 25-year-old woman from Telangana has died after being hit by a car in Florida, her family said on Monday. Guntipalli Soumya died on the spot after she was hit by a speeding car while crossing the road on Sunday evening, her family said. Sowmya, who hails from Yadagaripalli in Yadadri Bongir district, went to America for further studies. After earning a master's degree from Florida Atlantic University, he looked for work. Soumya's family was shocked to learn of her death. His parents Koteswara Rao and Balamani appealed to the central and state governments to take his body to India. Telangana Minister Komati Reddy Venkat Reddy expressed his condolences to Soumya's family. According to him, they are trying to return his body. He went to study in America two years ago. He is said to have been trying to find a job after completing his master's degree. Soumya, a resident of Yatakaripalle village in Telangana, was looking for a job. Her parents Koteswara Rao and Balamani were deeply saddened to hear the sad news of their daughter's death. Soumya's family has appealed to the government to help bring her body to Telangana. Koteswara Rao, a former CRPF jawan, said his daughter had recently celebrated her 25th birthday on May 11. “I even sent him clothes,” he lamented over his loss. According to the GoFundMe website, Soumya's father struggled to raise money for her education and sacrificed a lot to give her a chance to fulfill her dream. Rao currently runs a general store (Kirana Store) in Telangana.

Indian Student Dies in USA in a Bike Mishap May 24, 2024 10:47

On Thursday, the Consulate General of India in New York informed that an Indian student, Shri Belem Atchyuth, had passed away in a bike accident on Wednesday. Shri Atchyuth was attending the State University of New York at the time of his death. The Consulate General expressed their condolences to his family and stated that they were in contact with them. They also reached out to local agencies for support. In a post on X, the Consulate General of India in New York shared their sadness over Shri Atchyuth's sudden passing and offered their deepest sympathies to his loved ones. They reassured that @IndiainNewYork is working closely with both the family and local authorities to provide necessary assistance, such as repatriating his remains back to India. Saddened to learn about the untimely demise of Shri Belem Atchyuth, a student at SUNY who met with a bike accident and passed away yesterday evening; our deepest condolences to the family; @IndiainNewYork is in touch with the bereaved family & local agencies to extend all… — India in New York (@IndiainNewYork) May 23, 2024 The recent incident is part of a concerning trend of deaths among Indian-origin students in the US. In April, the Consulate General of India in New York reported the tragic death of an Indian student, who had been missing since March, in Ohio. The consulate expressed its sorrow over the loss and is working with local authorities to ensure a thorough investigation into the case. In a post on their official X handle, they offered their deepest condolences to Mr. Mohammed Arfath's family upon learning about his passing in Cleveland, Ohio. Arafat, originally from Hyderabad, went to the US in May 2023 to pursue a Master's degree in IT from Cleveland University. However, he has been missing since March 7 of this year. According to Arafat's father, Mohd Saleem, they received a phone call about 10 days after his disappearance from an anonymous individual claiming that Arafat had been abducted. The caller demanded a ransom of USD 1200 for his safe return. In April, a fellow Indian student in Cleveland named Uma Satya Sai Gadde passed away and an investigation is currently ongoing. Additionally, in February of this year, another Indian student was brutally attacked in Chicago. The Indian Consulate in Chicago has taken note of these incidents and has been providing support to the victim, Syed Mazahir Ali, as well as his wife in India.

Jaya Badiga becomes first Judge in the USA from Telugu States May 22, 2024 13:55

Gov. Gavin Christopher Newsom appointed Jaya Badiga, an Indian American, to the Sacramento County Superior Court, making her the first Telugu-speaking judge in California. Jaya Badiga was born in Vijayawada, Andhra Pradesh and completed his primary education in Hyderabad. She received a J.D. from Santa Clara University School of Law and an M.A. in International Relations and International Communications from Boston University. Jaya Badiga passed the California Bar Exam in 2009. She then served as human resources consultant, general counsel, managing attorney, attorney for the California Department of Public Health, and presiding judge of the Sacramento County Superior Court prior to his appointment as a judge. In addition to Badiga, Governor Newsom announced the appointment of 18 additional Supreme Court justices, including Raj Singh Badshah of India. Indeed a proud moment for Telugu people. Jaya Badiga is the daughter of Machilipatnam Ex MP Mr.Badiga Ramakrishna garu.