Ponzi

Abdul Gafoor, one of the main stockist of the 'Morris Coin crypto currency', was taken into custody on March 24, it said.

Don't get lured by schemes with abnormal returns: Sebi

"Instead of going through allurement, investors are advised to go through terms and conditions of the scheme carefully before investing," Sebi DGM Surya Kant Sharma said today while delivering his keynote address at a seminar in Amar Nath Girls Degree college in Mathura.

Finmin to soon seek Cabinet nod to ban illicit deposit schemes

In Budget 2017-18 finance minister Arun Jaitley had said that the new law will be a part of the government's 'Clean India' agenda

Why West Bengal is emerging as the heart of Ponzi schemes in India

The government's corporate fraud investigation wing is currently probing 185 suspected illicit deposit schemes that raised thousands of crores from gullible investors. Of these, 135 schemes were run of West Bengal.

SFIO probes 24 companies for fraudulent schemes in FY'17

As many as 24 companies have been referred to the Serious Fraud Investigation Office (SFIO) for allegedly running illegal money raising schemes in the current fiscal, the government said today.

Govt orders SFIO to probe 187 cos for running Ponzi schemes

Of these 187 companies, probe has been completed against 83 while investigation is 'under progress' in the case of remaining companies.

CBI arrests Pearl Agro's Chairman Nirmal Singh Bhangoo

CBI has charged the company is accused of duping 5.5 crore investors through the ponzi scheme

Lok Sabha passes Cos Bill, Jaitley for better biz climate

The Companies Act, 2013 came into effect from April 1 this year but faced stiff criticism for many provisions. Amendments to it were proposed to ensure severe punishment for those raising illegal deposits from the public.

Saradha probe suggests Rs 2,500 cr-scam just tip of iceberg

The probe, conducted by the Corporate Affairs Ministry's white-collar crime investigation agency SFIO, also found that these four companies collected 96 percent money from small investors who deposited less than Rs 50,000 each.

UK Sinha: The watchdog got more teeth under his tenure

Sinha is the second Sebi chief after DR Mehta to be heading the regulatory body over three years.

US Judge okays JPMorgan criminal settlement in Madoff case

The settlement, which deferred the criminal charges against the bank until January 8 2016, requires JPMorgan to pay a USD 1.7 billion forfeiture and improve its anti-money laundering controls. If it meets the terms by the appointed date, prosecutors can dismiss the charges against it.

JPMorgan adds two more settlements to global Madoff deal

The bank will pay USD 218 million to resolve a class-action suit and USD 325 million to resolve claims by Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC, the filing in Manhattan federal court shows.

Ponzi operators to face penalties worth 3-times of profits

The capital markets regulator Sebi (Securities and Exchange Board of India) has decided to increase the monetary penalty for those running unauthorised Collective Investment Schemes (CIS), as the existing mechanism have not proved to be sufficient to deter illegal mobilisation of money.

NSEL crisis: Are stock brokers as blameless as they claim?

With more evidence surfacing of the flimsy risk management systems at the National Spot Exchange, there is reason to believe that the entire spot commodity trading operation on the bourse was being run on the lines of a Ponzi scheme.

SEBI to help those duped by ponzi schemes to get back money

In a major relief to depositors duped by ponzi schemes, the Securities and Exchange Board of India (SEBI) today said its new powers would help in recovery of money from the fraudulent firms and return them to the investors.

SBI witnesses 60% rise in deposits

SBI gained nearly 60 percent in deposits so far this fiscal. This is partly due to the flight of savings from ponzi and bogus schemes, many of which went belly up in recent months.

Need to minimise deposit mop-ups by NBFCs: Subbarao

Reserve Bank of India Governor D Subbarao says collection of deposits outside the banking space should be minimised and finally eliminated.

25-yr old Sebi gears for challenges...new and old

CNBC-TV18's Ashmit Kumar says that 25-yr old Sebi stands at the cusp of a new India and faces challenges both old and new.

FM for plugging regulatory gaps in financial sector

In a bid to deal with collective investment and Ponzi schemes P Chidambaram said efforts are being made to frame a new law to bridge regulatory gaps in the financial sector.

Multiple agencies crackdown on Ponzi schemes, Saradha Group

The government on Saturday said several of its investigating wings like Sebi, RBI, IT Department and Enforcement Directorate have begun crackdown on Ponzi schemes and have initiated action against Saradha Group under various laws including the Prevention of Money Laundering Act (PMLA).

WB Chit fund scam: Sebi turns heat on dozen other firms

The chit fund scam in West Bengal is getting bigger with market regulator Sebi turning the heat on over a dozen other companies running similar Ponzi schemes. People are rushing to withdraw Rs 20,000 crore invested in these companies.

Madoff's wine fetches $41,530 for Ponzi victims

The eclectic wine and spirits collection belonging to imprisoned Ponzi schemer Bernard Madoff fetched USD 41,530 at an online auction held on Wednesday.

JPMorgan ignored suspicions about Madoff - lawsuit

JPMorgan Chase & Co executives stood by silently as their client Bernard Madoff ran his epic Ponzi scheme, hoping to protect the bank's investments and continue doing business with him, a newly released USD 6.4 billion lawsuit claims.