Bhavesh Patel, 47, from Arizona and Asmitaben Patel, 34, from Illinois pleaded guilty to conspiracy to commit fraud and money laundering offenses, the Department of Justice said.
The Securities and Exchange Board of India is looking to complete its probe at the earliest in the matter, which was first brought to its notice in 2015 by a whistleblower but the investigation gained pace only in the recent months.
Realty firm Unitech Ltd today said it has not committed fraud on any investor and the delay in delivery of project is due to reasons beyond its control and recession in the real estate sector.
Risk mitigation and business solutions provider First Advantage has found that there has been an increase in discrepancies in the education-related documents provided by candidates while applying for jobs.
A parliamentary panel has asked the Housing and Urban Poverty Alleviation (HUPA) Ministry to immediately get a thorough probe done into the cases of fraud being committed by unscrupulous elements, in the name of R
Mohit Goel, the Director of Noida- based company Ringing Bells which had announced Freedom251 smartphones at an astonishingly low price of Rs 251 apiece, was detained today here on allegations of fraud, police said.
The accountants were allegedly found laundering money for companies through shell companies during the demonetisation period.
With such rapid advancements and huge inflow of data, having analytic and Big Data tools/services is now a mandate for any financial institute or industry to strategies when it relates to credit risk, fraud risk or to make more efficient, fast and profitable decisions.
Fraud, cyber and security incidents are now the â€˜new normal‘ for companies across the world, according to executives surveyed for the 2016-17 Kroll Annual Global Fraud and Risk Report.
The introduction of dematerialization â€” conversion of physical shares into electronic form -- in the mid-90s was a radical move that changed the character of the Indian market forever.
The stock had been going through a lot of turbulence following Zee Learn's calling off proposed merger on the company's cash situation. The stock has fallen over 80 percent in one year.
Income Tax officials today said they have post-demonetisation uncovered several cases of fraud including one wherein a syndicate was exchanging old currency notes for 35 percent commission.
Buffett has long been a fan of Wells Fargo and invested in the bank in 1989, says a Bloomberg report. Most of his stake is held through Berkshire insurance subsidiaries, though he also owns some shares of Wells Fargo personally, according to the report
CBI today carried out searches at the office of Jaiprakash Associates in connection with alleged fraud in claiming insurance money from United India Insurance Corporation Limited with regards to Dul Hasti hydroelectric power plant in Kishtwar.
Fraud has the ability to impact all industries, irrespective of sector, size or location. According to a survey by the Association of Certified Fraud Examiners (ACFE), it is estimated that a typical organization loses 5 percent of revenues to fraud. The Indian environment is no different.
Former Executive Director of Securities and Exchange Board of India (SEBI) JN Gupta says that there is something wrong with the company. The period of losses -- when the entire fraud process started -- is not clear. Though, the company says that auditors are looking at accounts, it has not been opening balances prior to April 2015.
The applications will help banks, telecommunications companies, government agencies and manufacturers make more informed decisions in order to reduce losses.
A KPMG report says 77 percent of Indian fraudsters are motivated by greed, a motivation that 60 percent of the world's fraudsters share.
Around 61 per cent of the economic crimes in the country are committed by employees within an organisation which fall under the age group of 31-40 years, according to a report by PwC.
As the cheque frauds are on the rise and the most sophisticated cheques too are falling victim to frauds, it makes sense to opt for online transfer of funds.
Three firmsâ€”Asian Paints, Aptech and Britanniaâ€”last month filed criminal complaints against top officials of Sharepro alleging theft of shares and dividend belonging to bonafide shareholders. The fraud was committed by some Sharepro employees by forging signatures, and opening fake demat and bank accounts
The Sharepro website claims Larsen & Toubro Finance Holdings, Bajaj Hindusthan, Hexaware, Ultratech Cement, Dena Bank, Bank of India, Zee, Godfrey Phillips, Mahindra Lifespaces, Abbot India, Clariant, Novartis, BASF, Balmer & Lawrie and Bombay Dyeing among its main clients
A Rajasthan-based Chartered Accountant (CA) and a real estate agent were today questioned by the CBI in connection with its probe in Rs 1,000 crore Syndicate Bank fraud case.