Ponzi scheme

Odisha: CBI arrests BJD MLA in Seashore Chitfund scam case

Odisha: CBI arrests BJD MLA in Seashore Chitfund scam case

Ruling Biju Janata Dal (BJD) legislator Prabhat Biswal was arrested by the Central Bureau of Investigation (CBI) on Tuesday in connection with the Seashore Chitfund scam in Odisha.

Sep 19, 2017, 12:53 PM IST

CBI takes over Rs 500 cr online ponzi scam probe

The CBI has taken over investigation of the Rs 500 crore online ponzi scam allegedly by Ghaziabad-based Webwork Trade Links.

Jun 28, 2017, 15:20 PM IST
New law on cards to tackle Sahara-like Ponzi scams

New law on cards to tackle Sahara-like Ponzi scams

 India plans a legislation to close a regulatory loophole that has made it possible for fraudsters to dupe millions of savers, as Prime MinisterNarendra Modi strives to bring the rural poor into the mainstreambanking system.

May 30, 2016, 16:02 PM IST
Shocking! Income Tax dept smells a rat on Freedom 251 launch?

Shocking! Income Tax dept smells a rat on Freedom 251 launch?

After all that massive buzz that Ringing Bells made by launching the 3G smartphone priced at just Rs 251, Income tax Department's investigation team is reported to have visited the Ringing Bells office.

Feb 19, 2016, 12:31 PM IST
Veteran cricketers Yuvraj Singh, Harbhajan Singh linked to Rs 45,000 crore ponzi scam: Reports

Veteran cricketers Yuvraj Singh, Harbhajan Singh linked to Rs 45,000 crore ponzi scam: Reports

Both the Punjab cricketers Yuvi and Bhajji allegedly received plots of lands in Mohali as gifts.

Jan 14, 2016, 15:36 PM IST

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.

Mar 25, 2015, 20:59 PM IST

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.

Mar 24, 2015, 12:04 PM IST

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.

Mar 21, 2015, 20:24 PM IST

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.

Feb 16, 2015, 20:04 PM IST

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.

Feb 07, 2015, 16:17 PM IST
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.

Jan 31, 2015, 13:45 PM IST

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.

Jan 05, 2015, 21:36 PM IST

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.

Dec 23, 2014, 04:57 AM IST

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.

Dec 22, 2014, 17:20 PM IST

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.

Dec 15, 2014, 23:22 PM IST

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.

Dec 15, 2014, 19:03 PM IST

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).

Dec 12, 2014, 20:20 PM IST

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.

Dec 05, 2014, 15:55 PM IST

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.

Nov 18, 2014, 22:31 PM IST

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.

Oct 07, 2014, 15:27 PM IST