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.

Assam Minister files defamation case against Saradha

Assam Health and Education Minister Himanta Biswa Sarmah filed a criminal defamation case against ponzi scheme Saradha Group and its chairman Sudipta Sen on Saturday for allegations against him in a purported letter to CBI.

Chit funds: Maha govt to auction property of defaulters

Maharashtra government has decided to auction property of those who have cheated investors of crores of rupees through chit funds and ponzi schemes, Home Minister R R Patil said.

CPI-M flays govt move to float fund for duped investors

CPI(M) sharply criticised the Trinamool Congress govt`s move to set up a relief fund to compensate investors hit by the collapse of Saradha Group.

Pilot writes to state CMs for police action in fraud schemes

The Centre has written to state CMs for vigorous police action against erring entities.

Federal officials allege USD 600 million Ponzi sch

The action by the Securities and Exchange Commission on Friday is intended to help investors recoup money and avoid devastating losses.

FBI arrests brother of Madoff over Ponzi scheme link

Peter Madoff, 66, was taken into custody at his lawyer`s Manhattan office this morning, according to FBI spokesman J Peter Donald.