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.

Ponzi scam: Allen Stanford jailed for 110 years

Texan financier Allen Stanford has been sentenced to 110 years in prison for orchestrating a USD 7 billion Ponzi scheme.

USD 30M Ponzi scheme targeted Muslims: Prosecutors

Federal prosecutors say a taxi
driver turned prominent businessman in Chicago`s South Asian
community is among 3 people indicted for defrauding
hundreds of Muslims out of USD 30 million.

SEC chiefs in dark as Madoff evaded junior staff

Top US SEC officials were in the dark that staff were probing Bernard Madoff until the former financier was arrested in December 2008 for running a USD 65 billion Ponzi scheme.

Madoff victims to sue PwC for billions of pounds: Report

PricewaterhouseCoopers, is being sued for billions of pounds over its role as an auditor to one of the feeder funds that channelled huge amount of money to Bernard Madoff, the man behind the largest fraud in history, report says.