Ram Khatoria and Govind Khatoria are two jewelers brothers in New York City, and are originally from Jaipur in India. They happen to be relatives of Amit Gupta. Govind Khatoria is married to Asha Khatoria, the sister of Amit Gupta, the promoter of Agrifields DMCC and Getax.
A 107-page report report containing emails and documents retrieved from the files of the ongoing international investigations of Amit Gupta and Getax, the Khatoria brothers have been named “conduits” to help “orchestrate crimes in multiple jurisdictions on behalf of Amit Gupta”, primarily money laundering and tax evasion through raising “illicit and fictitious invoices” and fraudulent “business facilitation fees”, reads the report.
The Khatoria Family (Govind Khatoria, Ram Khatoria, and Ram Mohan Rawat), through fictitious invoices issued to Getax Australia, the helped Amit Gupta evade over $26.7 million through the following entities: Rare Earth Resources in Hong Kong, Rare Multicolor Gems LLC, and Precious Gems, violating international laws as well as domestic laws, which can be investigated by global and regional authorities as many countries like Australia, Hong Kong and Singapore do not have a statute of limitations on global crime.
Additionally, the report cites an intercepted transcript between Govind Khatoria and Ashok Gupta, the brother of Amit Gupta. It was intercepted on 15th June 2013 and 4:55pm Australia time, where Govind Khatoria says, “you cannot tell the ‘consultant’ that you offer bribes in order to get business”.
As per the report, the three businesses are exclusively “involved in the jewelry and gemstones business”, however, to aid in the money laundering efforts, “created fictitious invoices” under the “false pretext of ‘Business Facilitation Fees for arranging business of selling Rock Phosphate in India'”, which neither the Khatoria’s or their businesses engaged in.
Additionally, the Khatoria’s earned “commissions” to facilitate the money-laundering and tax evasion activities of the Gupta family. Asha Khatoria also owned approximately US$20 million worth of apartments in 2 Belmont, which she was gifted by the Gupta family via a S$14.31 million purchase in 2008 as per Property Highlights of Singapore. The income and asset purchase, to the report, “was not disclosed to U.S. authorities.”
Kolkata Police on December 22, 2023 lodging an FIR, against Amit Gupta of Agrifields “forging and manipulating the records” and participating in “fraudulent transfer of shares” and “falsification of accounts” of Sunland Projects Pvt Ltd and income tax notices exceeding 1700 crore, dated between 22nd March 2022 and 7th July 2022 for the Amit Gupta and family.
Additionally, according to the Sydney Morning Herald, “The US documents name Getax director Amit Gupta as the ‘target of a criminal investigation who is alleged to have conspired with others to bribe foreign public officials and to have engaged in money laundering and other offences’.”
Both Ram and Govind Khatoria, two U.S. citizens and residents, “did not disclose such income to US or Hong Kong Authorities”, violating U.S. common law, likely to prompt an investigation by the IRS as well as relevant regional authorities. Asha Khatoria, a permanent resident of the U.S., is also implicated.
