Washington sources reported that Indian-American former CEO of a Detroit-based IT company in the US has pleaded guilty to bribing a city official. The officials said Parimal D. Mehta, 54, of Northville, was the CEO of FutureNet Group Inc. He was accused of participating in a scheme to bribe a Detroit official to get benefits for the company, said Acting Assistant Attorney General John P. Cronan of the Justice Department’s Criminal Division.
Meanwhile Mehta pleaded guilty on Wednesday to one count of federal program bribery before US District Judge Robert H. Cleland of the Eastern District of Michigan. He is expected to be sentenced on September 27. Moreover in his plea deal, Mehta admitted that from 2009 through August 2016, he hand-delivered over $6,500 to Charles L. Dodd, the former director of Detroit’s Office of Departmental Technology Services, including two cash bribes paid in the restroom of a Detroit-area restaurant in 2016.
Previously Dodd had pleaded guilty to bribery September 27, 2016.
Furthermore according to the plea agreement, Mehta wanted preferential
treatment for FutureNet in exchange for the bribes he paid to Dodd.
Moreover Mehta also asked Dodd to supply him with confidential information
regarding Detroit’s internal operations, including information regarding
Detroit’s internal budgets for particular technology projects and personnel to
benefit FutureNet in its dealings with Detroit.
Dewan Housing Finance shares slumped to an intraday low of Rs. 103.95 According to sources Dewan Housing Finance Corporation shares fell as much as 6.5% on Thursday, a day after the company said its chief executive Harshil Mehta had resigned. Reportedly Dewan Housing Finance shares opened lower at Rs. 104.00 apiece on the National Stock Exchange (NSE) and slumped to an intraday low of Rs. 103.95 in early trade, from their previous close of Rs. 111.20.
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