Ponzi Schemes

The investigation found that several properties in states like Tripura, Assam, West Bengal, Odisha, Uttar Pradesh, Maharashtra and Jharkhand were acquired in the name of various companies of Basil Group and Rose Valley Group, by "illegally" diverting the funds collected from the common public.

Cyrptocurrency | SC order does not clear the road ahead for virtual currencies

This Supreme Court judgment is a hyper-technical analysis of the RBI’s powers to regulate a pseudo-currency. The judgment does not legalise cryptocurrencies — that will be decided by Parliament.

IMA jewellery fraud: The scam that opened a can of worms in Karnataka

The scam came to light on June 10 when an audio clip of Khan blaming MLA Roshan Baig and other government officials of corruption went viral.

SC accepts SEBI's reply, trashes PIL for probe in ponzi cases

The Supreme Court today accepted market regulator SEBI's contention that over 1500 cases of banned ponzi schemes were referred to other agencies for further probe as they did not fall under its jurisdiction.

SC asks SEBI, Centre to give status of 1538 ponzi cases

Supreme Court today sought to know from the Centre and Securities and Exchange Board of India (SEBI) about the status of 1538 cases of banned Ponzi schemes which have been referred to other agencies for investigations.

CBI probing ponzi schemes to the tune of Rs 85k cr: Director

CBI is probing cases of ponzi schemes in which over Rs 85,000 crore of over six crore investors are involved and it is assisting the Centre in framing a legislation to put a ban on such deposit-taking activities, agency Chief Anil Sinha said here today.

PACL case: Sebi collects large number of property documents

Making a "headway" for refund of money to investors in over Rs 50,000 crore PACL case, SEBI on June 24 said a large number of property documents have been collected and the process is on for auction of those assets

Sebi warns investors to stay away from ponzi schemes

Sebi chairman U K Sinha on Thursday said small investors should stay away from various ponzi schemes which promise very high returns in a short duration.

Jan Dhan scheme to help tackle ponzi menace: Sebi chief

"If you look at the larger picture, part of the reason is that there is deficiency in provision for financial services in different parts of the country. Perhaps if that deficiency was not there people would not have invested (in ponzi schemes)," U K Sinha said.

Government takes steps to curb ponzi schemes

Minister of State for Finance Namo Narain Meena informed the Rajya Sabha that an ordinance has been promulgated to amend the Sebi Act that would provide more powers to act against illegal collective investment schemes.

'SFIO probing 67 cos for allegedly floating ponzi schemes'

Corporate Affairs Minister Sachin Pilot said his ministry has ordered the Serious Fraud Investigation Office (SFIO) to conduct probe against 67 companies who had allegedly floated ponzi schemes.

Ponzi menace: Govt to sensitise police, judiciary in states

Continuing its efforts to curb fraudulent investment schemes, government will soon start a process to sensitise police, judiciary and other agencies across states on ways to contain this menace.

SEBI gets more powers; can seek old-case details from peers

In a major upgrade of powers given to SEBI, the government has allowed it to pass orders like search and seizure, attachment of properties, arrest and detention of defaulters and pass disgorgement directions to recover the wrongful gains made in contravention of laws.

Cabinet likely to take up Sebi Act amendments tomorrow

The Cabinet is likely to discuss tomorrow, the ammendments into various regulations that will provide more powers to the market regulator Sebi.

Govt plans ordinance to curb chit-fund ponzi scams: Sources

The Cabinet is likely to consider an ordinance in Wednesday‘s meeting, in order to keep a check on ponzi schemes. CNBC-TV18 learns that there could be a move to have stricter laws in order to regulate all collective investment schemes (CIS).

Some infamous ponzi schemes

Abnormally high returns, despite all the warning signs, is a promise that investors have always fallen prey to.

Working to save small investors from ponzi scheme: UK Sinha

Amid lakhs of investors believed to have been defrauded by Ponzi schemes in West Bengal, Sebi Chairman U K sinha today said the regulator is working hard to ensure that small investors' savings are not put to risk.

Saradha chit fund scam: Govt announces multi-agency probe

In a multi-agency crackdown against alleged duping of public investors through Ponzi schemes, the government today said the entities suspected to be engaged in such activities are being probed by Sebi, RBI and the Corporate Affairs Ministry, among others.

Govt panel suggests consumer campaign against ponzi schemes

A government panel has suggested running a public campaign under the flagship consumer awareness programme 'Jago Grahak Jago' to guard the gullible investors against multi-level marketing (MLM) and pyramid structure companies collecting money through ponzi schemes.