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.

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.

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.

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.

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.

Charge-sheet filed in Speak Asia case

Two years after the crime branch of Mumbai Police registered a case in the Rs 2,276 crore Speak Asia scam, police on Thursday filed a charge-sheet.

Fresh anti-ponzi scheme Bill passed in WB Assembly

West Bengal Protection of Interest of Depositors in Financial Establishments Bill, 2013 was passed in the state Assembly, after withdrawing the earlier one following objections from the Centre.

Ponzi scheme company managing director detained

The managing director of a ponzi scheme company, who was on the run for over a year, was caught by aggrieved customers and handed over to the police, who detained him.

CBI to investigate ponzi scheme groups in Tripura

The CBI will investigate the cases relating to ponzi schemes, which has defrauded a large number of people in Tripura.

Govt mulls ban on ponzi advertisements

Faced with a mushrooming ponzi menace, govt is considering a possible ban on promotion of money-collection schemes promising unrealistic returns.

Saradha executive, another arrested for cheating in Tripura

Two executives of two ponzi scheme companies, including the Saradha Group, were arrested on the charge of cheating, the police said on Thursday.