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.