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'Streamline norms for co-op societies to curb ponzi schemes'

'Streamline norms for co-op societies to curb ponzi schemes'

To curb possible diversion of ponzi proceeds, a Parliamentary panel has asked the government to streamline the regulatory regime for multi state cooperative societies and also come out with a legislation for chit funds.

Guess where! 21 arrested over $7.6 billion online ponzi scam

Guess where! 21 arrested over $7.6 billion online ponzi scam

China has arrested 21 people allegedly involved in a massive online Ponzi finance scheme in which some 900,000 investors lost over USD 7.6 billion, the state media reported Monday.

West Bengal ponzi firm's MD arrested

The managing director of URO Group - a West Bengal-based deposit-taking company - has been arrested on charges of cheating and fraud, police said on Saturday.

After West Bengal, Odisha emerges as another ponzi hotbed

As regulator Securities and Exchange Board of India​ (SEBI) continues its clampdown on ponzi schemes, it has found Odisha to be a major hotbed for such illegal fund-raising activities with investors being duped in name of jatropha bushes and gold investments.

Govt mulls ban on ponzi advertisements

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

One year later, fallout from Madoff`s massive fraud

The FBI agents who arrived at Bernard Madoff`s luxury penthouse apartment on the morning of December 11, 2008, found a broken man in a bathrobe who knew his time was up.

Madoff trustee sues Madoff family for almost $200 mn

Bernard Madoff`s brother, sons and a niece used the family finance business like a "piggy bank," a court-appointed trustee says.