I'm grateful to commenters on my blog posts for reinforcing my conviction that religiously-minded people often are incapable of recognizing reality. Not always. Often.
Case in point: some regular commenters, who I assume read my posts before they comment on them, keep on ignoring facts about the scandalous drama concerning financial dealings involving a Bollywood-like cast of characters. Here's an overview of the drama.
-- The once-billionaire Singh brothers, Malvinder and Shivinder, whose business empire has been reduced to almost nothing following a string of poor decisions and fraudulent loans.
-- The Singh brothers are relatives of the guru of Radha Soami Satsang Beas (RSSB), who came to be both their spiritual guide and father figure.
-- The guru, Gurinder Singh Dhillon, orchestrated the installation of his right-hand man, Sunil Godhwani, as the leader of some Singh brother business entities. Family members of Dhillon, plus other RSSB insiders, controlled shell companies that got fraudulent loans from Singh brothers' entities.
-- Malvinder Singh has filed a criminal complaint against the guru, Godhwani, and Dhillon family members.
-- SEBI, the Securities and Exchange Board of India, has uncovered "fictitious and fraudulent" financial transactions that need to be repaid. Separately, the Supreme Court of India is requiring the Singh brothers to fulfill a legal settlement that can't happen unless the guru and his family repay almost a billion dollars in loans.
Documentation of all this can be found by reading posts in the "Radha Soami Satsang Beas" category of this blog. (See right sidebar.) Of course, that's if you care about facts. If you just want to mindlessly defend the RSSB guru, you're free to remain blissfully ignorant of those facts.
One religious delusion that I find especially amusing is the theory a commenter recently threw out that the RSSB guru is acting so badly because he wants to demolish the belief among RSSB devotees in a "perfect living guru." Um, wouldn't it be easier for the guru to simply state, "I'm not a perfect living guru"? Of course, that way he couldn't rake in hundreds of millions of dollars.
Spence Tepper is a frequent commenter who does pay close attention to facts, and has been doing a good job of sharing information about this massive financial scandal. Here's some recent comments of his where he responds in a recent post to someone who uses the assumed name of "Just The Facts." I've corrected few typos.
Hi Just The Facts:
"Is anyone alleging criminal activity by the mafia boss and Guru? not repaying a loan in time is not a crime"
The loans given to Gurinder family members were given under fraudulent circumstances by the Singhs, but with the active participation of the shell companies, which at the time, had Dhillon family and RSSB leaders among their directors.
Not repaying a loan is not a crime, but defaulting on several hundred million loans might be, if it was done with intent.
We don't know that yet, only that several hundred million dollars loaned to the Dhillon family have gone unrepaid, and worse, checks from the shell companies that gave them the loans were written in a circular fashion back and forth to cover for these Dhillon family loans to make it appear they are making loan payments when they actually were not being paid at all.
So, the SEBI has audited and called this "Fraudulent and Fictitious Activity" and ruled that both the Singhs and the shell companies are guilty and must repay these loans immediately. They gave 90 days, and no loans were repaid.
In that duration, Malvinder has made several accusations against Gurinder and [the Dhillon] family regarding their complicity in the fraud. However, since Malvinder is a party to that fraud his accusations are of questionable value. No doubt he is desperate because he can't repay the money. But he can't repay the money because the Dhillon family, whom he helped, albeit fraudulently, hasn't repaid, either.
The Supreme Court of India has also stepped in to order both the Singh Brothers and the Shell companies to repay, and gone further by sending Garnishment orders to those who took the loans, and that would by definition, include Dhillon family members, though that detail is not mentioned in the press. Al we know is that these shell companies gave several hundred millions to Dhillon family and associates in "loans".
The loans themselves were fraudulently given over several years by the Singhs (though Gurinder's son was also an operating executive at Fortis at the time) without any collateral, in violation of both Fortis policy and SEBI law. These were accepted by the Dhillon family throughout the last nine years or so.
The Garnishment orders are to repay Fortis directly, and not the shell companies, nor Malvinder.
This is where we stand today.
Hi Again, "Just the Facts"
Here are some links so that you may see the information for yourself, which I have attempted to sumarize:
The Securities and Exchange Board of India's audit and ruling of Fictious and Fraudulent Activity:
The Supreme Court of India's order for repayment, and identification that the debts were far larger than the initial SEBI audit demonstrated:
And some additional review of the Supreme Court ruling related to payment of the Daiichi fraud settlement.
And more about the loans given to Gurinder family and Malvinder's claims about their intent:
One more point, "Just The Facts"
While late payment on a loan isn't a crime, and defaulted loans isn't a crime IF you agree to a satisfactory repayment plan, it is a crime to accept such loans if they were fraudulently obtained.
The recipient of the monies obtained from fraud is in fact an accessory to a crime, and subject to criminal prosecution.
This is only one layer removed, but if it happens repeatedly, then it becomes more difficult to prove you "had no idea" the money was obtained in such a way.
When your wife and sons are actively participating in obtaining the monies through fraud it is even more difficult to claim that you knew nothing..
And if you are a perfect Master, even less credible.
So, yes, we are talking about criminal activity and the potential for the biggest recipient of that fraud to be considered an accessory to that fraud.
But all we have now are the garnishment orders and the ongoing criminal investigation by the SEBI crimes wing, and the documented fact that both the Singhs and the Dhillon family were the biggest beneficiaries of that fraud for over a decade.
This Live Mint image gives an overview of the massive amount of money that was siphoned into the pockets of the Dhillon family. 1000 crore rupees is about $145 million.