Sunday, May 26, 2024

Paramount Holdings Executives Facing Criminal Charges for False Yamaha Dealership Claims

Prakash and Co.; facing criminal charges

Paramount Holding Limited’s directors, Prakash Virgi Ghedia, Arvindkumar Atit Patel, and Suresh Khimji Jagatiya, attempted to deceive Malawians by falsely claiming to be authorized Yamaha Motorcycles dealers, portraying an image of sophistication. Their deceptive actions have now plunged them into significant legal trouble, with the Lilongwe Chief Resident Magistrate Court scheduling a hearing for January 17 next year. Paramount Holdings and the implicated directors must address charges related to fraudulent government procurement deals.

The charges, outlined in the indictment, accuse Prakash Virgi Ghedia, Arvindkumar Atit Patel, Suresh Khimji Jagatiya, and Paramount Holdings Ltd of conspiring to commit a felony (Section 404 of the Penal Code), creating a false document (Section 353 of the Penal Code), and presenting a false document (Section 360 of the Penal Code). The trio is specifically alleged to have forged documents in August 2020, falsely portraying Paramount Holdings as an authorized Yamaha Motorcycles dealer in Malawi on behalf of Yamaha Motor Company Ltd of Japan.

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