Page 3 - Fraud

Cybercrime victims must dial helpline number in case of fraud: Haryana DGP

He cautioned against falling for schemes enticing investments in trading or stock markets through WhatsApp groups and fake websites

Credit Suisse client accused of dodging taxes for a decade gets $15 mn bail

Dan Rotta, 78, who was arrested March 9 at Miami International Airport as he prepared to fly to Barcelona, must remain under house arrest with an electronic monitor, a federal judge in Miami ruled

Telecom department blocks more than 1,500 numbers linked to cyber threats

The Department of Telecommunications (DoT) blocked international and local phone numbers associated with cybercrimes and threats, aiming to curb misuse of telecom resources

How a 25-year-old ex-cricketer duped Rishabh Pant of Rs 1.63 crore

The ex-cricketer cheated multiple people, including India's star cricketer Rishabh Pant. The police found that he cheated Pant of Rs 1.63 crore in 2020-2021

Won't testify again at New York fraud trial, nothing more to say: Trump

Donald Trump said Sunday he has decided against testifying for a second time at his New York civil fraud trial, posting on social media that he "VERY SUCCESSFULLY & CONCLUSIVELY" testified last month and saw no need to appear again. Trump had been expected to return to the witness stand Monday as the last big defense witness in the trial in New York Attorney General Letitia James' lawsuit. The case threatens Trump's real estate empire and cuts to the heart of his image as a successful businessman. Trump announced he was cancelling his testimony in an all-capital letters, multipart statement on his Truth Social platform, writing: "I WILL NOT BE TESTIFYING ON MONDAY." " HAVE ALREADY TESTIFIED TO EVERYTHING & HAVE NOTHING MORE TO SAY," Trump wrote, adding his oft-repeated claim that James and other Democrats have weaponized the legal system to hinder his chances at retaking the White House. Trump was often defiant and combative when he testified on November 6. Along with ...

Mahadev betting app: Mumbai police register FIR against 32 people for fraud

The Mumbai police have registered an FIR against 32 people, including the "promoter" of the Mahadev' betting app, for allegedly committing a fraud of nearly Rs 15,000 crore, an official said on Wednesday. According to the Matunga police official, the first information report (FIR) was registered on Tuesday against app promoter Saurabh Chandrakar, and key accused Ravi Uppal and Shubham Soni and others for committing the fraud since 2019 until now. The case was registered on the direction of the 30th Kurla court under Indian Penal Code sections 420 (cheating), 120-B (conspiracy), IT Act (for cyber terrorism) and the Gambling Act, the official said. As per the FIR, the accused have defrauded people of nearly Rs 15,000 crore. The Enforcement Directorate last week claimed that a forensic analysis and a statement made by a 'cash courier' had led to startling allegations that Mahadev betting app promoters have paid about Rs 508 crore to the Chhattisgarh chief minister so far, and that "th

Trump returns to civil fraud trial, with Michael Cohen set to testify

Michael Cohen once proclaimed he'd take a bullet for Donald Trump. Now, after breaking with the former president amid his own legal troubles, the fixer-turned-foe is poised to testify against his old boss on Tuesday as a key witness at the civil fraud trial that threatens to upend Trump's real estate empire and wealthy image. Trump voluntarily came to court for the highly anticipated testimony, detouring from his usual campaign haunts to the Manhattan courtroom for a sixth day this month. Cohen scrapped their expected showdown last week, citing a health issue. Cohen has said it will be his first time seeing Trump in five years. This is not about Donald Trump vs. Michael Cohen or Michael Cohen vs. Donald Trump," Cohen said as he arrived at the courthouse to await his turn to testify. "This is about accountability, plain and simple. Trump, heading into court, noted that Cohen served prison time after pleading guilty to tax evasion, lying to Congress and campaign finance violations. H

ED conducts raids on erstwhile Bhushan Steel in Rs 56,000 cr 'fraud' case

The Enforcement Directorate on Monday said it has conducted fresh searches against the promoters and entities of erstwhile Bhushan Steel Limited as part of a money laundering probe against them linked to an alleged Rs 56,000 crore bank fraud case. Thirty locations in the national capital region, Haryana, Kolkata, Mumbai and Bhubaneswar (Odisha) were raided and surveyed last week on October 13, officials said. The money laundering case stems from a charge sheet filed by the Serious Fraud Investigation Office, an investigative agency under the Ministry of Corporate Affairs. A probe found that the erstwhile Bhushan Steel Limited (BSL) and its Managing Director Neeraj Singal and his associates formed several shell companies, the agency alleged in a statement. After completing the corporate insolvency resolution process (CIRP), Bhushan Steel was taken over by Tata Steel Ltd in 2018. The ED alleged the promoters and entities linked to BSL "rotated funds from one company to another throu

Fraud trial: Trump acknowledged penthouse size at 11,000 square feet

Donald Trump signed a document 30 years ago that gave the true size of his New York penthouse which was later listed as far larger on financial statements, according to evidence Tuesday at the former president's civil business fraud trial. The evidence appeared in an email attachment shown as Allen Weisselberg, the former finance chief of Trump's company, testified in New York Attorney General Letitia James' fraud lawsuit against Trump and his Trump Organization. Trump denies any wrongdoing. The attachment was a 1994 document, signed by Trump, that pegged his Trump Tower triplex at 10,996 square feet not the 30,000 square feet later claimed for years on financial statements that were given to banks, insurers and others to make deals and secure loans. Weisselberg said he recalled seeing the email but not the attachment, explaining that the attachments were documents he already had on file in the company's offices. But in any event, he said, he didn't pay much mind to the apartment's

Sam Bankman-Fried hoped to be US president someday: Star witness Ellison

Caroline Ellison, the tech executive who ran Sam Bankman-Fried's hedge fund while sometimes dating him, testified Tuesday that he directed her to commit crimes before his cryptocurrency empire collapsed last November. She also revealed that her former boss and boyfriend thought he might be U.S. president someday. With Bankman-Fried looking on from his seat in the courtroom, Ellison, 28, testified at the New York City trial that she committed fraud, conspiracy to commit fraud and money laundering along with Bankman-Fried and others. He directed me to commit these crimes," she said of Bankman-Fried, when asked by a prosecutor about his involvement. Repeatedly, Ellison made clear that Bankman-Fried was behind the biggest financial moves in his companies, to the point that bitcoins he created were sometimes called Sam's coins. She described him as very ambitious and envisioning eventually leading huge companies and using his money influentially. He even thought there was a 5 per cent

Donald Trump arrives in court for trial scrutinising his business practices

New York Attorney General Letitia James' suit accuses Trump and his company of deceiving banks, insurers and others by habitually lying about his wealth in financial statements

Indian American arrested in US in $13 mn tech fraud, faces 20 yrs in prison

An Indian American has been arrested in New Jersey on charge of being part of a technical support scam that targeted more than 7,000 victims defrauding them of more than USD 13 million, a US Attorney announced Thursday. Charged with one count of conspiracy to commit wire fraud, Manoj Yadav appeared before US Magistrate Judge Jos R. Almonte in Newark federal court. "The defendant and his conspirators are alleged to have misled their numerous victims into thinking that they were a legitimate technology support company affiliated with a major software company," US Attorney Philip R Sellinger said. After claiming to provide technical support for issues involving the software company's popular accounting software, they allegedly charged the victims exorbitant fees for purported support services that were not authorized by the software company, he alleged. "We allege Yadav lied to software users and forced them to pay for services that would usually come free with their initial purchase,

CBI books Visa Power, chairman Saran for bank fraud of Rs 1,964 cr

The CBI has registered an FIR against Visa Power and its then chairman Vishambhar Saran in connection with an alleged bank fraud of Rs 1,964 crore, officials said Thursday. The action of the agency was initiated on a complaint from Punjab National Bank, one of the members of a consortium of 14 lenders which have sanctioned term loans of Rs 1,964 crore. PNB was the lead bank of the consortium and sanctioned loan of Rs 394 crore. The bank has alleged that the company and accused officials -- Saran and directors Vikas Agarwal and Subrato Trivedi, both named in the FIR as accused -- had approached the bank seeking loans for developing coal-based thermal power project with a generation capacity of 1,200 MW in Raigarh in Chhattisgarh, they said. "It has transpired that the accused persons in connivance and in furtherance of criminal conspiracy with each other have caused wrongful gain to themselves and wrongful loss to the banks to the tune of Rs 1,964 crore apart from interest dues from

CBI files 2 cases on Varun Industries in Rs 388 crore fraud in two banks

The CBI has registered two separate cases against Varun Industries for alleged bank fraud of more than Rs 388 crore, officials said Wednesday. The company, its promoters and directors Kailash Agarwal and Kiran Mehta were booked in the two fresh cases registered on separate complaints from the Central Bank of India and Canara Bank, they said. The Central Bank of India has alleged that it has suffered a loss of Rs 269.29 crore, while Canara Bank pegged the losses to be around Rs 118.88 crore, they said. "The accused company had availed PCL facilities for the export of steel and kitchenware items, but it was revealed that at least on three occasions, the beneficiaries of Packing Credit Limits (PCL) were not dealing with the steel and kitchenware items," the FIR pertaining to Canara Bank said. In its FIR registered on the complaint of Canara Bank, the Mumbai unit of the CBI's Banking Securities and Fraud Branch noted that the proceeds in the PCL facilities were diverted to other ...

Ex-CVC Patel to head board to examine role of top bank officials in frauds

Former Central Vigilance Commissioner (CVC) Suresh N Patel has been appointed the chairman of an advisory board to examine the role of top bank officials in fraud cases. The members of the board are Ravikant, a former secretary of the Department of Ex-Servicemen Welfare; Rajni Kant Mishra, a former director general of the Border Security Force; David Rasquinha, ex-MD of the EXIM Bank; and Partha Pratim Sengupta, ex-MD and CEO of the Indian Overseas Bank, according to an official order. The tenure of the chairman and members would be for a period of two years with effect from August 21, 2023, said the order issued by the Central Vigilance Commission. The Advisory Board for Banking and Financial Frauds (ABBFF) will examine the role of all levels of officials and whole-time directors (including ex-officials and ex-whole-time directors) in public sector banks, public sector insurance companies and public sector financial institutions in case of frauds amounting to Rs 3 crore and above

Centre makes police verification of SIM dealers mandatory to curb frauds

Briefing reporters on the new rules, Vaishnaw said the need to create greater accountability for SIM card dealers came after detailed field tests and discussions with telecom service providers

Vadodara man arrested for posing as PMO official for kids' school admission

A man from Gujarat's Vadodara city has been arrested for posing as a PMO official to secure the admission of two children in a private school here and trying to dupe it of huge sums with his fake identity, an official said on Saturday. The arrest of Mayank Tiwari on Friday comes months after an Ahmedabad resident, Kiran Patel, was held from a five-star hotel in Jammu and Kashmir for posing as a senior official from the Prime Minister's Office (PMO). Hospitality apart, Patel had also enjoyed security cover by tricking officials in the Valley. Identifying himself as a director (strategic advisory) at the PMO in New Delhi, Tiwari first got in touch with the school and its trustee in March 2022, during the admission season, said the official from Waghodia police station in the city. Tiwari, a middle-aged man, sought the school's help with the admission of two sons of his family friend, whom he described as Indian Army official Mirza Baig and said he was being transferred to Vadodara fro

Sandesara brothers fighting fraud charges in India flourishing in Nigeria

The selection of a firm owned by the family of the duo branded as fugitives by India to drill wells for the project is just the latest sign of how Nigeria has provided the brothers a haven

Sandesara brothers fighting fraud charges in India flourishing in Nigeria

The selection of a firm owned by the family of the duo branded as fugitives by India to drill wells for the project is just the latest sign of how Nigeria has provided the brothers a haven

Banks could not hold hearing before classifying account as fraud: SC

The Supreme Court on Friday clarified its March 27 verdict, saying it had not directed banks to accord a personal hearing before classifying a borrower's account as fraud. The clarification came on the plea of State Bank of India which flagged two issues pertaining to the March 27 judgement and said now the NPA account holders, against whom the proceedings were initiated before the verdict, may come and say that stall everything as they were not heard by banks and the hearing should not mean personal hearing. We never stated that the personal hearing be granted to the borrowers. Rather we had said that they should be given adequate notice and an opportunity to make a representation," a bench comprising Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala said. On the issue of applicability of the verdict with prospective effect, the bench said that a review petition will have to be filed against the judgement by the SBI. A bench headed by the Chief Justice, on