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  • Bernie Madoff, mastermind of US' biggest Ponzi scam, dies in prison aged 82 Apr 14, 2021 07:12 PM IST

    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 Dec 24, 2020 08:45 PM IST

    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 Sep 17, 2019 09:45 PM IST

    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 Aug 17, 2019 01:27 PM IST

    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 Jul 19, 2019 08:00 PM IST

    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 Jul 19, 2019 03:25 PM IST

    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 Nov 14, 2018 05:55 PM IST

    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 Mar 25, 2018 10:03 AM IST

    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 Feb 21, 2018 04:16 PM IST

    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 Mar 30, 2017 03:28 PM IST

    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? Mar 24, 2017 01:10 PM IST

    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 Dec 23, 2015 02:17 PM IST

    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 Dec 07, 2014 03:00 PM IST

    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 Feb 27, 2014 08:53 PM IST

    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.

  • Winklevoss twins plan IPO for Bitcoin-tracking stock Jul 02, 2013 11:26 AM IST

    Winklevoss twins plan IPO for Bitcoin-tracking stock

    Winklevoss Bitcoin Trust, which is designed to operate like an exchange-traded fund, will initially sell $20 million worth of shares, with each share worth a fraction of a Bitcoin, a filing with the Securities and Exchange Commission showed on Monday

  • SEC: Blowing The Whistle On Fraud Mar 16, 2013 12:10 PM IST

    SEC: Blowing The Whistle On Fraud

    What would it take for you to blow the whistle on fraud where you work? Well the U-S Securities Exchange Commission wants to make it more enticing.

  • Peter Madoff sentenced to 10 yrs for role in fraud Dec 21, 2012 08:36 AM IST

    Peter Madoff sentenced to 10 yrs for role in fraud

    The younger brother of Bernard Madoff will serve 10 years in prison for his role in his brother's Ponzi scheme that stole billions of dollars from investors, a US judge said on Thursday.

  • US urges 230 years prison for Allen Stanford Jun 07, 2012 07:42 AM IST

    US urges 230 years prison for Allen Stanford

    US prosecutors urged a judge on Wednesday to send convicted financier Allen Stanford to prison for 230 years, calling him a "ruthless predator" whose USD 7 billion Ponzi scheme was among the most egregious frauds ever undertaken.

  • Ex-Madoff employee admits faking labor, tax records Jun 06, 2012 08:00 AM IST

    Ex-Madoff employee admits faking labor, tax records

    While former trader David Kugel was helping conman Bernard Madoff fabricate stock trades, his son Craig Kugel was giving US authorities false information about who worked at the now-defunct Madoff firm.

  • Madoff wives to face trustee claims in Ponzi case Apr 05, 2012 02:32 PM IST

    Madoff wives to face trustee claims in Ponzi case

    The trustee seeking money for victims of Bernard Madoff's Ponzi scheme, who lost an estimated USD 20 billion, may pursue claims against wives of the imprisoned swindler's sons, a US federal court judge said on Wednesday.

  • No trial delay for accused Ponzi schemer Stanford Dec 29, 2011 05:00 AM IST

    No trial delay for accused Ponzi schemer Stanford

    Allen Stanford, accused of running a USD 7.2 billion Ponzi scheme, on Wednesday lost his bid for a three-month delay in his criminal fraud trial, clearing the way for jury selection to begin on January 23.

  • Capitalism in crisis: Are powerful people making the rules? Nov 28, 2011 04:13 PM IST

    Capitalism in crisis: Are powerful people making the rules?

    'Capitalism in Crisis' is a series that seeks to separate the reality from the hyperbole by asking some provocative questions. What is the business of business? Are free markets always fair and efficient?

  • US calls online poker site a 'global Ponzi scheme' Sep 21, 2011 10:00 AM IST

    US calls online poker site a 'global Ponzi scheme'

    US prosecutors made new allegations on Tuesday in a probe of the Full Tilt Poker website, accusing makers of defrauding players of more than USD 440 million.

  • UBS wins review of Madoff trustee's $2.6 bn suits Jul 15, 2011 09:45 AM IST

    UBS wins review of Madoff trustee's $2.6 bn suits

    UBS AG won review of USD 2.6 billion of lawsuits brought by the trustee liquidating Bernard Madoff's firm, at least the fourth time a bank has obtained access to that court.

  • Madoff trustee seeks $19 bn from JPMorgan Jun 25, 2011 09:19 AM IST

    Madoff trustee seeks $19 bn from JPMorgan

    The trustee seeking money for Bernard Madoff's victims is now seeking USD 19 billion from JPMorgan Chase & Co, tripling the amount he hopes to recover from what was once the imprisoned Ponzi schemer's main bank.

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