ED arrests Rose Valley chief Gautam Kundu in money laundering, ponzi scheme

Enforcement Directorate on Wednesday arrested Chairman of Rose Valley group of companies Gautam Kundu in money laundering and ponzi scheme scam case in Kolkata.

Saradha group chief sent to 14 days judicial custody

Saradha Group chief Sudipta Sen, the prime accused in the multi-crore rupees ponzi scheme scam, was sent to 14 days judicial custody by a local court in connection with a case filed by a retired soldier.

Carpenter held for duping people of crores in Delhi

A 34-year-old carpenter has been arrested for cheating thousands of people of crores of rupees by luring them to invest in a ponzi scheme in 2008 promising hefty returns in a short period, the police said on Saturday.

Saradha agent remanded to three days in ED custody

A Saradha agent was on Monday remanded to three days in Enforcement Directorate's (ED) custody till February 19, 2015.

MD of a Ponzi firm arrested in West Bengal

The Managing Director of a company which allegedly runs several ponzi schemes was on Saturday arrested from Bidhannagar area, police said.

Investors robbed of $11 mn Bitcoins in four years: Study
Investors robbed of $11 mn Bitcoins in four years: Study

Frauds such as online ponzi schemes have skimmed at least $11 million in Bitcoin deposits from unsuspecting cyber customers over the past four years, a study says.

BJD govt in Odisha a failure on all fronts: Congress

Dubbing the BJD government in Odisha as a failure on all fronts in 2014 when a series of scams rocked the state, Congress leader Niranjan Patnaik on Monday claimed the ongoing CBI probe into the chitfund scandal appeared to have slowed down during last one month.

Madoff victims' payout nearing $7.2 billion: Trustee

Victims of Bernard Madoff`s massive Ponzi scheme will get afresh $322 million payout if a US judge approves the request by the trustee liquidating the convicted fraudster`s firm, bringing the recovery total to more than $7 billion.

Left Front leaders meet PM over Saradha scam issue

A delegation of Left Front leaders from West Bengal on Monday met Prime Minister Narendra Modi demanding coordinated investigation by various Central probe agencies into the Saradha chit fund scam and other such ponzi schemes.

CBI takes ponzi scheme company's ex-MD on remand in Odisha

CBI on Monday took Durga Prasad Mishra, former managing director of ponzi scheme company Micro Finance Ltd (MFL), on a six-day remand.

Assam govt looks to tighten law against ponzi scheme

Those committing offences under the Assam Protection of Interests of Depositors (in Financial Establishments) (Amendment) Bill, 2014, will not be able to get anticipatory bail, once the state Assembly passes it.

Change laws, put cash curbs to check black money menace: SIT

The SIT said that making tax evasion of Rs 50 lakh or more a 'predicate offence' would allow necessary action under the Prevention of Money Laundering Act (PMLA).

RBI to bring out Charter on consumer rights

The RBI is working towards bringing out a charter on consumer rights to curb instances of ponzi and online lottery schemes, a senior Bank official said here on Friday.

CBI arrests Subhankar Nayak in ponzi scheme

CBI on Tuesday arrested middleman Subhankar Nayak in connection with the multi-crore chitfund scam in Odisha for his alleged role in channelling money of ponzi company Seashore.

CBI to file first chargesheet in Saradha scam by October end

The Special Crime Branch of Central Bureau of Investigation (CBI), which started probing the Saradha multi-crore rupees ponzi scheme scam four months ago, would file the first chargesheet by October end.

CPI-M to take action against members involved in ponzi scam

CPI(M) state secretary Biman Bose on Monday said the party will take action if any functionary is proved guilty of being involved in the ponzi scheme. 

Will quit politics if TMC's link with Saradha is proved: Mukul Roy

Trinamool Congress general secretary Mukul Roy on Monday said he would quit politics if the party's link with Saradha ponzi scheme scam is proved.

Ponzi menace: SEBI wants states to put frontline checks

As illicit money-pooling schemes sprout across nooks and corners of the country, SEBI has asked state governments to put in place the first line of defence against such activities and provide 'early warning systems' for cases requiring action by the capital markets regulator.

Saradha sam: CBI raids premises of Assam MLAs, singer Sadananda Gogoi

The Central Bureau of Investigation (CBI) on Thursday conducted search operations at various spots across Assam capital in relation with the Saradha chit-fund scam.

Sebi slaps Rs 31 lakh fine on 3 persons for fraudulent trades

Sebi had conducted an investigation into the trading in shares of the four companies for the period January 1, 2009 to August 31, 2009.