Insight: A deeper look into Ram Tumuluri’s murky business dealings around the world
By Our Reporter
Controversial Canadian state businessman Sriram Tumuluri wecently arrested by the Dubai Police – as part of a financial corruption investigation – in connection with several bounced cheques. He is in custody and under investigation in a Middle Eastern province.
The government said an investigation is ongoing, and if he does not settle his debts Tumuluri will be banned from entering the country As reported by pakobserver
After his arrest, this report explores the murky world of Ram Tumuluri’s business dealings around the world.
The journalist’s killing
The report tells how Celebrate Malta journalist Daphne Caruana Galizia, who was killed in a car bomb near her home in October 2017, will miss a number of financial scandals involving controversial Canadian-Indian businessman Sriram Tumuluri Died within weeks of the announcement, he had been researching for years Ram Tumuluri until his tragic assassination.
Although Maltese national brothers George Degiorgio and his brother Alfred have confessed to the murder close associates of Daphne Caruana Galizia said Maltese authorities have not investigated the murder thoroughly and many questions remain unanswered.
Sriram Tumuluri’s financial crimes had been chronicled in detail by the murdered journalists. The journalist, who also worked in the Panama Papers scandal, had written dozens of articles on Sriram Tumuluri and was determined to publish a major story on the murder.Her assassination rocked Malta as reported by economist.
Through her “Running Commentary” blog, Daphne Caruana Galizia spent a lot of time and resources exposing Ram Tumuluri. Before his untimely death, he referred to Ramatumuluri in a series of posts on his popular website:
Ram Tumuluri “a crook with a lot of unpaid debts in Canada”.As reported by daphnecaruanagalizia,
Ram Tumuluri “ultra-shady Ram
Tumuluri”https://daphnecaruanagalizia.com/2017/05/heres-picture-head-civil-service-celebrating-labour-hq-2013
Ram Tumuluri “corrupt incompetent” Ram Tumuluri as reported by daphnecaruanagalizi
He the “man of dubious reputation” who screwed up nurses..
Ram Tumuluri is a “fraud and deceiver from India via British Columbia” as reported by daphnecaruanagalizia
Ram Tumuluri is a “shy British Columbian” who “stole $400,000 from a hotel bank account” in British Columbia and “destroyed account books and left” as reported by daphnecaruanagalizia
Mark Pawley is known for making shady deals by launching Oxley Capital from Singapore. Recently, Ram Tumuluri said he had to flee Malta after a senior politician threatened to target the murdered journalist.As reported by independent
But the politician’s office said Ram Tumuluri’s comments were ridiculous and blatantly false, adding that he was lying to save his own skin by throwing others under the bus. While working in Malta, local media reported that Ram Tumuluri had an affair with Deborah Chappell, a Maltese lawyer and former Technoline director. Local intelligence sources said Daphne Caruana-Galizia was also in the process of writing about another politician involved in the incident but was killed as reported by dailypakistan
Corrupt payments to Govt official
Ram Tumuluri was recently brought back into the limelight after evidence emerged that his Caucus team in the UK made huge unreported and corrupt payments to senior politician Carmen Sianter, advisor of Malta’s health minister Chris Fearne. As reported by headtopics and dailypakistan.
He resigned after evidence emerged that Carmen Siantar had received payments totaling €443,500 from Gozo International Medicare Ltd – part of VGH Group – funds from the Dubai-headquartered subsidiary of Emirates NBD Bank.As reported by the fridaytimes ,globalvillagespace and timesofmalta
Within months of his transfer, according to the local daily Times of Malta, he had gone to work as Fearne’s election campaign manager – at the time he also appointed her CEO of FMS as reported by thursdaytimes and nation
It’s understood Maltese authorities want to speak to Ram Tumuluri but he has refused to travel to the country to cooperate with the investigation. Through his lawyers, he has stated that he did nothing wrong in making these payments which according to him and thursdaytimes dunyanews37819 sources were business transactions
Permanent deceptive pattern:
A consistent pattern throughout Ram Tumuluri’s career is that he presents deals to investors in which he himself does not have the money to invest; he portrays them as opportunities to make easy money; establish opaque offshore corporate structure; leverages colleagues and past business relationships; receives partial funding; withdraws any investment, willfully failing to submit accounts from the business; was on to a new project as reported by GlobalVillageSpace
By maintaining inferior tangible assets (i.e. unclaimed property they do not own), the plaintiffs cannot recover any substantial amount they have in the name of Tumuluri even in litigation on court A review of public records shows that Tumuluri failed to consistently account for corporate incorporations in India, the US, Canada and Singapore where the funds have gone.As reported by apn news
Early career:
Ram Tumuluri was born in Hyderabad, India to Satyanarayana Tumuluri and Bharati Tumuluri in a middle-class Brahmin family with no professional history. Ram Tumuluri said he has a culinary degree from Osmania University. Osmania University offered culinary courses. The controversial businessman said he attended the London School of Economics (LSE) but LSE officials said there was no record of Ram Tumuluri ever enrolling in any course or graduating from a reputed institution . The LSE says it sent a letter to Ram Tumuluri asking him to stop making false statements.As reported by dailytimes
After filing for bankruptcy in Canada in 2014, Ram Tumuluri was in such dire situation that he joined the “stay with a stranger for free network” in Singapore, without having to pay hotel bills or rent. Couchsurfing is an internet-based network by means of which members look for somewhere to stay for free, a complete stranger’s home, when traveling or moving to a new place. So in 2014 Tumuluri was looking to sleep on strangers’ sofas when he left Canada (and his financial troubles there) for Singapore but in January 2015 he was cutting big deals, gaining funds and later running them in the pit. As reported by daphne caruana galizia and pakistan today and dnd
Indian failures:
In India, Ram Tumuluri launched the Ayucare brand under his company Holistic Healthcare. The businessman loved the idea that his company had taken the country by storm; In fact, one of the main spas was a bungalow in a residential area and the business folded after a few years of heavy losses. In 2008, its vehicle Tumuluri Hospitality Inc invested INR10m (equivalent to US$230k) in the company. It was a big investment at the time considering that just a few years earlier, Ram Tumuluri had left Marriott Hotels in Alberta, Canada to serve as Senior Manager of Wickaninnish Inn in Tofino, Canada.The company’s sole listed directors, Tumuluri and his wife Sonya, never met any of the mandatory Canadian listing requirements after the company was listed
The Canadian authorities then dissolved the company for non-compliance. As reported by the primetime
United States of America:
In India, Ram Tumuluri launched the Ayucare brand under his company Holistic Healthcare. The businessman loved the idea that his company had taken the country by storm; In fact, one of the main spas was a bungalow in a residential area, and after years of heavy losses, the business declined. In 2008, its vehicle Tumuluri Hospitality Inc invested INR10m (equivalent to US$230k) in the company. It was a big investment at the time that a few years earlier Ram Tumuluri had left the Marriott Hotel in Alberta, Canada to become the General Manager of the Wickaninnish Inn in Tofino, Canada
The company’s sole listed directors, Tumuluri and his wife Sonya, have never met the mandatory Canadian listing requirements since the company listed
Phrasavath Douangmala runs an assisted living facility named Douangmala Phrasavath Adult Family Home for individuals with disabilities, which appears to be located at her residence As reported by hindu metro
Corporate director tests list Tumuluri previously as president and director of Venturex Hawaii Investment Corporation, which incorporated in Hawaii in May 2003 and dissolved in December 2014 for failure to deliver an annual report. The other individual listed, Mamoru Hamanishi, traces back to British Columbia and is linked to Tumuluri there as reported by news india guru
Canada bankruptcies and failures:
Tumuluri later moved to Canada, where his business practices have set the hallmarks of recurring practices throughout his career to date. All of his companies were dissolved as a result of the corporate audit. Records in the lawsuit detail allegations such as misappropriation of company funds and failure to disclose accounting information to partners. All of his businesses have failed, leaving behind numerous issues with creditors ranging from mortgage lenders to smaller suppliers who have not paid. Notably, during his entire stay in Canada, Tumuluri owned property only once.As reported by global village space
In Canada, Tumuluri has incorporated seven companies since 2006, according to federal and state documents.Only one remains active; the remaining six were dissolved for failure to file company records. Between 2005 and 2010, he was involved in the purchase and management of two hotel businesses in British Columbia; One at Nita Lake Lodge (NLL Holdings) where he partnered with Praveen Varshney, a business riddled with allegations of financial mismanagement and misappropriation of company funds, and the other at Cable Cove Inn and Spa a triggers legal action.proceedings due to defaulted mortgage payments. Both became embroiled in litigation proceedings. In registering the seven Canadian companies Tumuluri utilized several physical and postal box addresses. It was all temporary because they did not own him, his wife, or the businesses associated with them.Ram Tumuluri took over the Nita Lake Lodge in Whistler, British Columbia, Canada in March 2010, and in December of the following year he had declared bankruptcy as reported by the american reporter
The Russia connection:
An investigation by an American publication found that Thomas-Kristen Seitz, a partner in the Rs 2,800-crore Sriram Tumuluri India electric bus deal, is known to have close ties to and worked with the Kremlin for the dreaded Russian spy agency, the KGB – now known as the Foreign Intelligence Service (SVR).
Two years ago, Ram Tumuluri’s Caucus Group Ltd registered in England and Wales won a tender to supply 1,400 electric vehicles to The Brihanmumbai Electric Supply and Transport (BEST) Registered in the UK but no business, Caucus belongs entirely to Tumuluri. Its operating company is Causis E-Mobility Pvt Ltd. registered in India.
The Russian connection of Ram Tumuluri was covered very widely as reported by daily times and the friday times
The Causis scandal
According to the book’s forensic analysis, Kausis acquired 100% of German-registered Eurabus GmbH by September 2021. Eurabus, founded and previously owned by Thomas-Kristen Seitz, is planning to open EV plants in Azerbaijan, Kazakhstan, Georgia and possibly Tanzania Supposedly
Causis Group Ltd was incorporated in England and Wales on 11 June 2021 under company number 13452464 and the company is 100% owned by Jersey-incorporated New Horizons Investments Limited, which in turn belongs 100% to Tumuluri, the documents show. The legal directors of Caucus Group are Tumuluri, Peter Knez, Charles Paul Rowan, Thomas-Christian Seitz and Gary Anthony Dugan.
Examination of the original documents of the German company shows that Eurabus GmbH was registered on 02 July 2015 under company number HRB 168446B.
Eurabus GmbH’s initial share capital was €25,000 and was 100% owned by Euracom Group GmbH, a company managed and controlled by Seitz. On 31 October 2019, Eurabus GmbH increased its share capital to €1.105 million. On 30 September 2021 Causis Group Ltd acquired 100% stake in Eurabus GmbH from Euracom Group GmbH as reported by the american reporter
Seitz grew up in the former German Democratic Republic (GDR) and attended the infamous Moscow State Institute of International Relations (MGIMO), where 50% of the graduates are alleged to have gone into the Soviet diplomatic service and 50% into the KGB, said the publication.
A journalist who knew Seitz and wrote an article about him and his activities in 2008 said that Seitz graduated from MGIMO in 1992. Seitz by that journalist in the daily Die Welt entitled “The Russians are Coming”. Two Russian “security pillars” with Vladimir Putin, whom he described as .
The article refers to Seitz as the “Vice-President” of the “Security School Waldmunchen” in Bavaria which was the Moscow branch of the “Academy of Law Policy, Security and Defense”.The Academy was founded by Vladimir Putin himself.utin is described as “a no.
The article also notes that Seitz and the Academy had close ties to the “International Counterterrorism Group,” also based in Moscow.That organization in Germany, the article notes, can be connected to Karlshorst, Berlin where the KGB had its headquarters.As reported by america daily post , dailypakistan and pakistan today
Expose in Indian media:
Ram Tumuluri’s latest The Brihanmumbai Electric Supply and Transport (BEST) project is a huge scandal.He signed an MoU with the Indian government in October 2021. The project was supposed to start within two months but there is no sign of any progress in the project so far and Indian officials informed the media that Ram billion dollars much as dunyanews https://www.app.com.pk/global/us-publication-reveals-india-electric-buses-deal-has-gone-bust-over-funding-failures/
Sources in the Indian government said, “Karan is using a Memorandum of Understanding (MoU) with Maharashtra government as security but the banks are seeking sovereignty guarantee from the state government, without the government’s consent. Caucis is struggling to arrange the loan and their efforts continue but it is clear that so far Caucis has not found a reliable lender. There are many promises on paper but so far none have been delivered.” As reports north india daily
The Mumbai authority fears that Ram Tumuluri may defraud his investors and business partners as Causis does not have manufacturing or technical capabilities as reported by america daily post
According to an article by Indian news agency The Indian Express, Kausis has won a tender to supply electric buses to The Brihanmumbai Electric Supply and Transport (BEST).In October 2021, the Maharashtra state government, in the presence of environment minister Aaditya Thackeray and industry minister Subhash Desai, signed the contract for Rs 2,800 crore ($370,000).
Maltese newspaper The Shift News published an article on Tumuluri’s electric vehicle venture under the headline “Ram Tumuluri suspected of copying ‘fraudulent’ Maltese VGH model in Mumbai” – a reference to a big health scare scandal in Malta.As reported by the american reporter and daily times
Dubai investigation:
Tumuluri points out that there are two UAE companies, Mount Everest Global Trading and VGH Dubai. Records show that he tried to raise funds in the UAE for the Malta PPP project but this was unsuccessful. He was assisted in this regard by Mohammad Hanif Sheikh, chairman operations and communications of Emirates Holding Group. Both companies have shut down operations following the failure. According to reports, Ram Tumuluri was recently questioned by Dubai authorities for using the country as a pawn for corruption deals.Tumuluri points out that there are two UAE companies, Mount Everest Global Trading and VGH Dubai. Records show that he tried to raise funds in the UAE for the Malta PPP project but this was unsuccessful. He was assisted in this regard by Mohammad Hanif Sheikh, chairman operations and communications of Emirates Holding Group. Both companies have shut down operations following the failure. According to reports, Ram Tumuluri was recently questioned by Dubai authorities for using the country as a pawn for corruption deals.The intelligence source said that the Dubai govt acted over intelligence reports from its western counterparts as reported by dunyanews and dnd.com.pk
Montenegro dealings:
Tumuluri won a public private partnership (PPP) deal in Montenegro, allegedly as a result of corruption from the presidency, according to media reports in the country. The deal was canceled when it transpired that he had paid bribes to local politicians.
Investigation shows that several business associates of Ram Tumuluri have been Allegations of suspicious business transactions or involving fraud, manipulation or abuse in the exchange of shares. Neither has a proven record of significant commercial success, despite claims to the contrary. The approach taken by Mark Pawley and others is similar to that of Tumuluri: they all promise their investors the investment opportunities that then arise after the initial investment.declared as unsuccessful. The investors are left bearing the loss. Tumuluri and others are moving forward to establish new businesses.As reported by the friday times
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