Indian couple in $ 460 million fraud in USA
Indian American couple Reddy and Padma Allen have been charged with defrauding the city of New York of $ 460 million through their New Jersey-based business firm TechnoDyne LLC . They were also operating from south Bangalore’s J P Nagar for the last few years, through a firm registered as Mccreade Software Asia Pvt Ltd, which, according to recruitment ads put out by the company, is TechnoDyne’s sister concern.
The Allens are accused of paying kickbacks to bag an IT sub-contract
to create a payroll system for New York City and then over billing the
city for profits. The US prosecutors are now seeking to have Reddy and Allen
extradited from India, where they allegedly fled in February after
being slapped with grand jury subpoenas.