Ponzi Scheme

Indian police arrested two individuals on Saturday after a case was filed against Falcon Invoice Discounting, which promised returns of up to 22%

Ukrainian nationals behind Mumbai's Torres jewellery ponzi scam, police probe intensifies: Report

A week before closing, Torres posted a YouTube video offering 11 percent interest on investments made before January 5, with an extra 0.5% for cash payments, likely to boost investments. However, when the stores shut on January 6, investors discovered it was a scam.

Mumbai: Investment consultant allegedly duped investors of Rs 54 cr by promising 2% return per month

According to the police, 55 investors have reported that they were scammed by Amber Dalal, said news reports; FIR has been filed in Mumbai

ED arrests Viraj Patil in TP Global illegal forex case

Viraj Patil was arrested from Mumbai on arrival on December 25 from Mumbai before which he was staying in Dubai.

Ponzi case: ED arrests director of West Bengal-based company

Biswapriya Giri of the URO group was arrested on August 20 and a special Prevention of Money Laundering Act (PMLA) court in Kolkata sent him to ED custody till September 1, the central agency said in a statement.

SC grants interim bail to director of Haryana-based company accused in Ponzi scheme

The petitioner had sought release for a period of four weeks so as to complete the religious observances occasioned by the death of his parents.

AMFI's three new TVCs warning small savers against Ponzi schemes to be out on April 26

The TVCs make small savers aware of the "pitfalls of investing in dubious schemes and new-age trends" and urge them to shift towards reliable investment avenues like mutual funds.

Ponzi schemer Bernie Madoff's sister, husband found dead

Madoff was infamously known for orchestrating a massive Ponzi scheme that wiped out peoples fortunes and ruined charities.

Hollywood actor jailed for $650-million film deal scam

Zachary Horwitz created fake contracts that he told investors were with HBO and Netflix to trick them into handing over vast sums of money.

Ponzi scheme: ED attaches Rs 35.70 crore assets in Bengaluru

A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach land, office spaces and residential flats in Bengaluru and bank and fixed deposits of Rs 1.49 crore held in the name of Vikram Investments and associates.

When billionaires lose a zero or two

In the rarified world of big business, a billion gained or two lost hardly makes news. But when those numbers spike dramatically, we are reminded of the adage: what goes up doesn’t always stay up!

Bernie Madoff, mastermind of US' biggest Ponzi scam, dies in prison aged 82

Bernie Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, a person familiar with the matter said.

ED attaches assets worth Rs 4,109 crore in Agri Gold Ponzi scheme case

The assets attached provisionally under the Prevention of Money Laundering Act (PMLA) are located in Andhra Pradesh, Karnataka, Odisha, Tamil Nadu and Telangana.

Rajasthan: Prime accused in Rs 1,000-cr Ponzi scam arrested

Vikram Singh Rajput (39) is the founder and managing director of the cooperative society, ADG (ATS and SOG) Anil Paliwal said.

Ponzi scheme: ED attaches Rs 261 crore assets of Haryana firm

It said the group invited gullible people to become members of their ponzi pyramid scheme "in the guise of" multi-level marketing by selling products like suit length and edible items.

Govt introduces Bill to check ponzi schemes in Lok Sabha

The bill was introduced by Finance Minister Nirmala Sitharaman in the Lower House amid noisy protests by Congress members over the ongoing political crisis in Karnataka.

Bill to check ponzi schemes in Lok Sabha

The bill was introduced by Finance Minister Nirmala Sitharaman amid noisy protests by Congress members over the ongoing political crisis in Karnataka.

Ballari mining baron G Janardhana Reddy granted bail in ponzi scheme fraud case

A magistrate's court here had remanded Reddy to judicial custody till November 24 Sunday.

Indian-origin man in the US charged with $250,000 fraud

Niket Shah of New Jersey was charged by the Securities and Exchange Commission (SEC) which also ordered a preliminary injunction and asset freeze against him.

Ponzi schemes: Government proposes 7-year jail term for offenders

The Union Cabinet on Tuesday gave its approval to introduce Banning of Unregulated Deposit Schemes Bill, 2018, in Parliament.

Exclusive: Should Bitcoin be allowed in India? Govt panel to meet on April 20 to discuss

If the government declares Bitcoin to be illegal in India, then the exchanges will have to shutdown, the source said.

BJP's Kirit Somaiya terms bitcoin a 'pyramid ponzi scheme'. Is he right?

"The use of Bitcoin, a hypothetical currency, is increasing at a rapid speed in India as well as in the world. Experts have expressed concern that Bitcoin is a pyramid ponzi type scheme," Kirit Somaiya said.

Bitcoin price could hit record high in 2016

Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. But despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in.

Sebi's ponzi crackdown catches 26 firms within a month

Weeding out illicit money pooling schemes, market regulator Sebi has within a month clamped down on over two-dozen companies that had raised close to Rs 1,000 crore from over 4 lakh investors.

Real-estate cos' ponzi scam worth over Rs 45,000 crore: CBI

In its case against PACL and PGF, CBI has named PGF Director Nirmal Singh Bhangoo and PACL Director Sukhdev Singh besides six other directors of the companies.