Interest free

Interest free

Meet the owner of a private bank who awarded loans to himself.

Rajan Mahtani has been in trouble with the law in Zambia several times. He has been accused of forging share transfer certificates in Zambezi Portland Cement and of using them to transfer shares from the company to an entity he controlled. He also has the dubious distinction of having once had his own private bank – which was confiscated by the Zambian Reserve Bank.

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Submitted by : J Maxwell on 2012-08-02 00:19:49
Mahtani and his actions do not appear to be out of the norm of any other major bank: over-extending credit and then calling in the loan, seizing assets when the borrower could not afford to pay.


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