India Probes Sequoia's Role in Alleged Money Laundering
- Sequoia’s shares purchase at premium said to be under probe
- Agency charges former minister’s son with money laundering
Photographer: Scott Eells/Bloomberg
This article is for subscribers only.
India is probing whether Sequoia Capital had any role in an alleged money laundering case involving a former minister’s son, according to people with knowledge of the matter.
The Enforcement Directorate, which investigates foreign-exchange violations, is examining why the Silicon Valley venture firm bought shares of a health care start-up at a premium from a company allegedly controlled by Karti P. Chidambaram, the son of former Finance Minister P. Chidambaram, the people said, asking not to be identified as they aren’t authorized to speak publicly. The agency on Wednesday informed a Delhi court of its continuing probe in a complaint that charges Karti with money laundering.