Trump calls Elon Musk's new party plan 'ridiculous'
New York (PTI): US President Donald Trump slammed Elon Musk after he formed a new political party, terming the move as "ridiculous" and saying the tech billionaire has gone "completely off the rails".
Musk, Trump's one-time ally, said in a post on X Saturday that he had set up the “American Party” to compete against the Republican and Democratic parties.
"I think it's ridiculous to start a third party," said Trump, speaking to reporters on Sunday before boarding Air Force One. "It's always been a two-party system, and I think starting a third party just adds to the confusion."
In a post on his social media platform, Truth Social, Trump said, “I am saddened to watch Elon Musk go completely ‘off the rails,’ essentially becoming a TRAIN WRECK over the past five weeks."
Musk even wants to start a third political party despite the fact that they have never succeeded in the United States, the US President said.
"The one thing Third Parties are good for is the creation of Complete and Total DISRUPTION & CHAOS,” Trump added.
He claimed that the Tesla CEO was motivated by discontent over his plan to end subsidies to promote the purchase of electric vehicles.
Trump also accused Musk of seeking improper influence by asking him to nominate his friend, Jared Isaacman, to be NASA administrator.
After Musk left his role as a special government employee in the Trump administration, Isaacman’s nomination was also withdrawn.
“I also thought it inappropriate that a very close friend of Elon, who was in the Space Business, run NASA, when NASA is such a big part of Elon’s corporate life,” Trump wrote.
Musk, the largest individual donor to Trump’s 2024 presidential campaign, was a close adviser to Trump until recently.
Musk, who spearheaded the Trump administration’s push to cut government waste, had criticised Trump’s “big beautiful" tax and spending bill because of estimates that it would add trillions of dollars to the federal deficit.
The legislation was narrowly passed by Congress and signed into law by the president this week.
Musk’s criticism of the bill was the catalyst for a major falling out between the two men last month.
The world’s richest man has indicated he wants a party that is fiscally conservative and reins in spending, but has offered few other details about what the party’s platform would be.
The two-party system in the United States has long been criticised by both registered Democrats and registered Republicans, but efforts in the last century to form a third party have shown little success.
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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.
