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Bosnia Arrests Four People in Probe Against Businessman Lakshmi Mittal's Brother Accused of Fraud

Pramod Mittal, the younger brother of steel magnate Lakshmi Mittal, has been accused of siphoning millions from Bosnia's metallurgical coke producer Global Ispat Koksna Industrija Lukavac (GIKIL).

PTI

Updated:November 19, 2019, 9:11 PM IST
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Bosnia Arrests Four People in Probe Against Businessman Lakshmi Mittal's Brother Accused of Fraud
Pramod Mittal, majority owner of Bulgaria's largest steelmaker Kremikovtzi, speaks during a news conference in Kremikovtzi, near Sofia, February 1, 2008. Mittal said on Friday he was not in a hurry to sell the loss making mill and would wait for a financial adviser to consult him first. U.S. Steel Corp. and two Ukranian billionaires, Konstyantin Zhevago and Rinat Akhmetov, have been interested in buying Kremikovtzi, plant officials have said this week. REUTERS/Stoyan Nenov (BULGARIA)

Sarajevo: Authorities in Bosnia have detained four people as part of an ongoing investigation into an Indian businessman.

Prosecutors in the central town of Tuzla said Tuesday the suspects with alleged links to Pramod Mittal are suspected of organized crime and abuse of position and authority. They say police have searched several locations looking for evidence.

Mittal, the younger brother of steel magnate Lakshmi Mittal, has been accused of siphoning millions from Bosnia's metallurgical coke producer Global Ispat Koksna Industrija Lukavac (GIKIL).

Pramod Mittal was a co-owner in the company that was one of Bosnia's biggest exporters. He was detained earlier this year and later released on a million-euro bail.

The suspects detained Tuesday are accused of providing illegal gains for Mittal despite a ban and liquidation proceedings of his company.

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