Properties of Devas Multimedia CEO Seized after Being Declared Fugitive Economic Offender

  • Enforcement Directorate (ED) has confiscated properties of Ramachandran Viswanathan, who was declared a fugitive economic offender due to a money-laundering case.
  • Viswanathan allegedly diverted 85% of Devas Multimedia’s foreign direct investment to the US following a failed 2005 satellite deal with Antrix Corporation.
  • Other officials and entities associated with Devas Multimedia are also accused in the case, rooted in alleged corruption around the voided satellite deal.
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