DNA: Don't get free troubles with 'free' scheme!
In Mumbai, not one, two, three, but the entire 287 people came under the guise of freebies. In the year 2018, an insurance company in Mumbai announced that those who participate in its health check-up camp will be given free health insurance. That is, if people get sick, then this company will bear all the expenses of the hospital. And money will be put in the bank accounts of these people.
Mar 18, 2022, 01:24 AM IST
Cryptocurrency Fraud: ED attaches assets of Nishad K worth Rs 36 crore for duping investors
The deposits taken from the general public were illegal and without any statutory permission from any regulatory agencies.
Jan 10, 2022, 21:54 PM IST
Parliament passes bill to regulate ponzi schemes
Aiming to curb the menace of ponzi schemes and protect gullible investors, Parliament has passed the Banning of Unregulated Deposit Schemes Bill, 2019. The Rajya Sabha on Monday passed the bill with a voice vote. The Lok Sabha had given its approval to the draft legislation on July 24.
Jul 29, 2019, 20:10 PM IST
Cabinet clears draft law to curb menace of ponzi schemes
The draft law has been brought in the wake of alleged duping of lakhs of financially illiterate people by Saradha and Rose Valley chit funds in West Bengal, Odisha and other states.
Jul 10, 2019, 18:18 PM IST
ED attaches Rs 209 crore in Bengaluru ponnzi scheme case
IMA Group MD Mohammed Mansoor Khan is accused of cheating more than 40000 middle class and lower middle class people through Ponzi Schemes.
Jun 28, 2019, 13:00 PM IST
Ponzi scam: ED seizes TMC MP KD Singh's assets worth Rs 238 crore
The authorities have also frozen several bank accounts linked to Singh.
Jan 28, 2019, 11:50 AM IST
Mining baron Janardhana Reddy granted bail in alleged Ponzi scheme fraud case
Mining baron and and former state minister G Janardhana Reddy was granted bail by Bengaluru court in the alleged Ponzi scheme fraud case on Wednesday evening. He was arrested on Sunday following a marathon session of questioning in connection with a money transaction worth crores of rupees allegedly linked to a ponzi scheme.
Nov 14, 2018, 17:33 PM IST
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
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?
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
Both the Punjab cricketers Yuvi and Bhajji allegedly received plots of lands in Mohali as gifts.
Jan 14, 2016, 15:36 PM IST
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
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
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
Ponzi menace: SEBI wants states to put frontline checks
As illicit money-pooling schemes sprout across nooks and corners of the country, SEBI has asked state governments to put in place the first line of defence against such activities and provide 'early warning systems' for cases requiring action by the capital markets regulator.
Sep 14, 2014, 19:46 PM IST
Sebi slaps Rs 31 lakh fine on 3 persons for fraudulent trades
Sebi had conducted an investigation into the trading in shares of the four companies for the period January 1, 2009 to August 31, 2009.
Aug 12, 2014, 18:56 PM IST
Rajya Sabha passes Bill to give teeth to Sebi to tackle ponzi menace
Lok Sabha had last week passed this Bill.
Aug 12, 2014, 17:28 PM IST
Madoff letter to US judge appears to be fake
US judge on Wednesday denied a bizarre motion supposedly filed by Madoff that claimed the US intelligence agencies used "bio-electric sensors” to influence the case against him.
Jul 24, 2014, 08:51 AM IST
