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Money-laundering: Sumangal boss, arrested, sent to police custody

Last Updated: Tuesday, July 08, 2014, 00:33

The top boss of a city-based company, involved in collecting deposits from the public by floating potato bonds, has been arrested from Mumbai on charges of money laundering and was Monday sent by a court here to police custody till July 18.

Sebi hopes anti-ponzi ordinance would become a law soon

Last Updated: Saturday, June 21, 2014, 12:13

Armed with powers given through an ordinance to take on investment frauds, Sebi chairman U K Sinha today said he hopes it would soon become a permanent law to ensure continued clampdown against illegal investment schemes.

President clears re-promulgation of Sebi ordinance

Last Updated: Saturday, March 29, 2014, 14:33

The ordinance had lapsed on January 15, since Parliament could not pass the Securities Laws (Amendment) Bill 2013 in the Winter session.

Ponzi schemes can't be matched on return claims: SEBI

Last Updated: Sunday, January 05, 2014, 14:44

Pitching for easier access by common investors to genuine financial products to take on the ponzi menace, capital markets regulator SEBI has said there are many good products available, although they cannot match tall claims made by illicit funds.

'Bitcoin' becoming a bit too big;regulators scramble for norms

Last Updated: Sunday, December 01, 2013, 13:16

As Bitcoin becomes more popular day by day, regulators are getting worried about potential money laundering risks associated with this digital currency and its possible misuse by fraudsters to lure gullible investors into 'e-ponzi' schemes.

Recovery orders for over Rs 500 cr issued in past 2 months: Sebi

Last Updated: Saturday, November 23, 2013, 15:39

Markets regulator Sebi on Saturday said it has ordered recovery of over Rs 500 crore from defaulting/ erring companies ever since the new search and seizure order was implemented two months ago.

Odisha starts attaching chit fund group`s properties

Last Updated: Monday, November 11, 2013, 21:06

Odisha Monday started the process of confiscating properties of scam-tainted chit fund companies in the state to compensate duped investors.

Odisha designates 4 ADJs to deal with chit-fund cases

Last Updated: Wednesday, November 06, 2013, 23:06

In a bid to expedite the process of attaching properties of ponzi scheme companies, Odisha government said four ADJs have been appointed as designated courts for the purpose.

Bengal minister behind Saradha chief`s rise: Suspended Trinamool MP

Last Updated: Wednesday, October 30, 2013, 00:21

Accused of being involved in the Saradha scam, suspended TMC MP Kunal Ghosh named a WB minister for the meteoric rise of scam kingpin Sudipta Sen.

ED gets Sudipto Sen`s custody for interrogation

Last Updated: Wednesday, October 23, 2013, 22:41

ED got custody of Sudipto Sen, main accused in a multi-crore chit fund scam, in connection with a money laundering case filed by it.

Saradha scam: WB govt to distribute compensation from September 30

Last Updated: Thursday, September 26, 2013, 21:38

Giving hope to lakhs of depositors defrauded by ponzi schemes of Saradha Group, Mamata Banerjee said state govt would start distributing compensation from September 30.

Govt may re-promulgate ordinance giving more powers to SEBI

Last Updated: Monday, September 09, 2013, 20:32

Government may re-promulgate the ordinance to empower Securities and Exchange Board of India (SEBI) to crack down on ponzi schemes, seek phone call records to check insider trading and carry out search and seizure operations,a top finance ministry official said Monday.