Page 10 - Frauds

GST enforcement: A fine balance in catching fraud, not harassing taxpayers

The government has tightened GST norms. But some of the changes have caused "inconvenience" to taxpayers, to say the least.

CBI files charge sheet against Delhi-based firm in PNB loan fraud

A case was registered on September 25, 2020, against the private firm and others on the allegations of causing losses to the tune of Rs 2040.63 crore to the consortium of 12 banks led by PNB.

Agro company CFO arrested for duping investor of Rs 117 cr in Mumbai

The Mumbai police's Economic Offences Wing has arrested the chief financial officer (CFO) of an agro company for allegedly duping an investor for Rs 117 crore, an official said on Thursday

4 held for duping people through fake bank websites: Delhi Police

4 men were arrested for allegedly duping people on the pretext of redemption of credit card reward points and providing other services by creating fake bank websites, says Delhi Police

EOW books builder Sanjay Chhabria, DHFL promoter Kapil Wadhwan for fraud

EOW of Mumbai police registered a fresh case against builder Sanjay Chhabria and DHFL promoter Kapil Wadhwan for allegedly cheating a real estate firm to the tune of Rs 150 crore

REL's ex-chairman Sunil Godhwani arrested for alleged Rs 800-cr fraud

Godhwani, who was already in judicial custody in case registered by Economic Offences Wing of Delhi Police for allegedly misappropriating funds of RFL, was taken on production remand and then arrested

Indian Bank declares 3 accounts with exposure worth Rs 362 cr as fraud

Indian Bank on Friday said it has reported three non-performing accounts, including IL&FS Tamil Nadu Power Ltd, as fraud to the RBI and the public sector lender has a combined exposure of over Rs 362 crore to these companies. Three non-performing accounts have been declared as fraud and have been reported to the Reserve Bank of India (RBI) as per regulatory requirement, Indian Bank said in a BSE filing. The nature of fraud comes in the form of diversion of funds in all these cases, the bank said. IL&FS Tamil Nadu Power has a fraud amount of Rs 320.34 crore against the bank, followed by Amico Textiles at Rs 30.98 crore and Sarbamangala Agro Products of Rs 11.26 crore. The bank said it has made provisions of up to 100 per cent in all these three fraud accounts as of March 31, 2022.

Sebi slaps Rs 50 lakh fine on individual for fraud in IPOs of 2 companies

The companies -- IDFC Ltd and Sasken Communications Ltd -- had come out with their respective Initial Public Offerings (IPOs) in 2005.

Frauds in PSBs dip 51% t Rs 40,295 cr, cases not falling fast enough: RBI

Public sector banks reported over 51 per cent dip in the amount involved in frauds to Rs 40,295.25 crore during the financial year ended March 2022, the Reserve Bank of India has said

Maharashtra govt starts using blockchain for caste certificate validation

Caste certificate validation currently involves a lot of manual intervention and is prone to frauds and forgery, officials said

US jury begins trial to consider Malaysia's 1MBD investment scandal

A jury began deliberations Tuesday at a US trial stemming from an audacious scheme involving former Goldman Sachs bankers to ransack a Malaysian state investment fund known as 1MBD.

Penalty amounting to Rs 29.72 crore levied on hospitals for fraud: Govt

Further, 144 hospitals are de-empanelled from the Ayushman Bharat Scheme based on confirmed fraudulent behaviour, Minister of State for Health Bharati Pawar said in a written response in Rajya Sabha

YES Bank case: HC grants bail to Avantha Group promoter Gautam Thapar

Bombay HC on Friday granted bail to Gautam Thapar, the promoter of Avantha Group in connection with the Yes Bank fraud case involving a transaction of Rs 307 crore with the realty company

FIR filed against Ashok Gehlot's son in Nashik over fraud allegations

An FIR has been registered against Vaibhav Gehlot, son of Rajasthan Chief Minister Ashok Gehlot for allegedly duping a Nashik resident of crores of rupees

Former Apple employee charged with defrauding tech giant $10 mn

A former Apple employee has been charged with defrauding the tech giant out of more than USD 10 million by taking kickbacks, stealing equipment and laundering money, federal prosecutors said

Largest-ever seizure: 'Crocodile of Wall Street' held in giant crypto bust

The couple conspired to launder 119,754 bitcoins in 2016 that's now worth $4.5 billion

4,071 banking fraud cases reported during H1 FY2022: RBI report

In terms of deposits, the number of reported cases of frauds stood at 208 of an amount involving Rs 362 crore, the report said

2 Florida men guilty of running $35 million Covid-19 fraud scheme

Two South Florida men have pleaded guilty in Ohio to leading a nationwide scheme to fraudulently obtain more than $35 million in COVID-19 relief loans

CBI files charge sheet against Indian Bank manager in deposit fraud case

The CBI has filed a charge sheet against 18 people

FBI, CBI discuss crime trends, including rising telemarketing fraud

Top US officials from the FBI and the Department of Justice have held a meeting with their counterparts from the CBI