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US authorities probe alleged forged letter from Mirach in Sahara deal

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San Francisco/New York: Federal authorities in San Francisco are probing US-based Mirach Capital Group, two sources familiar with the situation told Reuters, amid allegations that the group gave a forged bank letter to Indian conglomerate Sahara as part of financing negotiations.

Sahara had sought to borrow more than $1 billion from Mirach to help bail its chairman, Subrata Roy, out of jail in New Delhi. Roy was jailed last year for contempt charges for failing to comply with a court order to repay investors in a bond transaction that was ruled to be illegal.

A lawyer for Sharma said that Sharma has not been contacted by the FBI, and an FBI spokesman said he could not confirm or deny an investigation.

Reuters

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