Dr Savundra was an Asian doctor who purchased the controlling interest in an insurance company called Fire, Auto & Marine Insurance Company. He systematically bled funds from it, lied about its assets and sold the company to three unsuspecting men, and the company collapsed in days, leaving 400,000 motorists with no insurance. He twice served jail sentences for his fraud crimes.
I remember Dr Savundra being famously interviewed on TV by David Frost. Savundra disassociated himself from any blame and even went as far as calling the affected motorists 'peasants'.