Industrialist Pramod Mittal was arrested in Bosnia and Herzegovina on Wednesday for suspected fraud and “abuse of power”, AFP quoted prosecutor Cazim Serhatlic as saying. Pramod Mittal, who is the younger brother of steel tycoon Lakshmi Mittal, owns several companies in the Balkans.
The industralist has been arrested in connection with alleged irregularities in the operations of a coking plant in the northeastern town of Lukavac that he has co-managed since 2003. The plant has 1,000 employees. Two other company officials – General Manager Paramesh Bhattacharyya and a member of the supervisory board – were also reportedly arrested. An arrest warrant for a fourth man “considered to be a member of this organised criminal group with Pramod Mittal on top” has also been issued.
“Police, who acted upon the order of the prosecutor, arrested the president of the supervisory board of GIKIL, Pramod Mittal,” Serhatlic said. They are suspected of “organised crime, notably the abuse of power and economic crimes”, the prosecutor claimed. The accused will appear before a judge on Wednesday.
If found guilty of the crimes, they could get jail sentences of up to 45 years, the prosecutor added.
Lakshmi Mittal is the chairperson and Chief Executive Officer of ArcelorMittal, the world’s biggest steelmaker. He bailed out his cash-strapped brother in India.