UAE leader designates his son as crown prince
Dubai (AP): Sheikh Mohammed bin Zayed Al Nahyan, the president of the United Arab Emirates, appointed his eldest son Khaled as crown prince of Abu Dhabi on Wednesday, placing him as next in line to take over as the leader of the federation.
The state-run WAM news agency announced the appointment of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan as crown prince late Wednesday, without providing further details.
After Sheikh Mohammed, who is commonly known as MBZ, ascended to the presidency last year, rumors swirled about whether he would make one of his brothers his heir.
In that case, the front-runners would have been Sheikh Tahnoun bin Zayed, the powerful national security chief, Sheikh Mansour, the owner of the Manchester City football club, or the foreign minister, Sheikh Abdullah.
Sheikh Khaled was appointed chairman of the country's intelligence agency in 2016.
The United Arab Emirates, a close U.S. ally, is best known as the home of Dubai, a major international hub for business and travel.
Sheikh Zayed bin Sultan Al Nahyan, the first president of the UAE and the driving force behind its creation, ruled from 1971 until his death in 2004. He appointed his eldest son Khalifa as his successor and MBZ as deputy crown prince.
Sheikh Mohammed has been the nation's de facto leader since Sheikh Khalifa suffered a stroke in 2014. Sheikh Khalifa died eight years later, in May 2022.
During Sheikh Mohammed's rule, the UAE cultivated close ties with neighboring Saudi Arabia, initially joining it in its war against Yemen's Iran-backed Houthi rebels before exiting the conflict years later. The UAE has sought to project military power across the region as it has opposed the rise of Islamist groups.
In 2020, the UAE normalized relations with Israel in the first of the so-called Abraham Accords, followed by Bahrain, Morocco and Sudan.
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ED arrests Sandeepa Virk, 'cosmetologist' for alleged money laundering
New Delhi, Aug 13 (PTI): The Enforcement Directorate said on Wednesday it has arrested a woman, who claims to be an actor and a cosmetologist, under the anti-money laundering law in a case of alleged fraud and misrepresentation.
The agency said the purported links of the woman, Sandeepa Virk, with a Reliance Group executive, Angarai Natarajan Sethuraman (President, Corporate Affairs), are also under its scanner. Sethuraman, in a statement, denied any connection with Virk or any transactions related to her.
Virk was taken into custody under the Prevention of Money Laundering Act (PMLA) on Tuesday after searches were conducted against her and her associates in Delhi and Mumbai over the last two days.
A special court sent her to the ED's custody till August 14, the agency said. The woman claims to be the owner of a skin care products selling website named hyboocare.com, which the ED claimed was a "front" for money laundering.
She and her associates are being probed for allegedly exerting undue influence through "misrepresentation" and "defrauding" individuals by soliciting money under false pretences.
According to an Instagram ID of Virk, she is an actor and entrepreneur and the founder of the said website.
The federal agency said in a statement that the woman was also "in touch with" Sethuraman, former director of erstwhile Reliance Capital Limited.
She was communicating with him regarding "illegal liaisoning", the ED claimed, adding that the searches at Sethuraman's residence "confirmed" these allegations.
"Besides, diversion of funds for personal benefit has also been unearthed during the course of the search action," it said.
The ED alleged that public money worth about Rs 18 crore belonging to Reliance Commercial Finance Limited (RCFL) was disbursed to Sethuraman in 2018 by "flouting" prudent lending norms.
The funds were lent under terms that allowed a deferment of the principal amount as well as the interest, with multiple waivers granted and no due diligence conducted, it said.
The ED claimed that besides this, a home loan of Rs 22 crore was provided by Reliance Capital Limited by "violating" the prudential norms. "A large part of these loans are seen to have been eventually siphoned off and remained unpaid," it alleged.
Sethuraman, in a statement, dismissed the allegations as "baseless". He denied any connection with Virk or any transactions related to her.
Detailing about Virk's web portal, the agency said it purportedly sold FDA-approved beauty products. However, the ED said the products listed on the website have been found to be non-existent and the portal lacks a user registration option and is plagued by persistent payment gateway issues.
A scrutiny of the website uncovered minimal social-media engagement, an inactive WhatsApp contact number and an absence of transparent organisational details, all of which reinforce the finding of "non-genuine" commercial activity, the ED claimed.
"These factors, including limited product range, inflated pricing, false claims of FDA approval and technical inconsistencies, indicate that the website serves as a front for laundering funds," it said.
Another social media-hosted bio data of the woman said she is a certified cosmetologist.
The ED said several "incriminating" documents were seized during the searches and the statement of a man named Farrukh Ali, stated to be an associate of Virk, was recorded.
The money-laundering case stems from an FIR lodged by the Punjab Police.
Sethuraman said that the home loan he received from Reliance Capital was granted following due process and was secured by the property offered as collateral.
