Page 10 - Frauds

Sebi warns public against dealing in properties of PACL Group, subsidiaries

According to the Securities and Exchange Board of India (Sebi), PACL collected more than Rs 60,000 crore through illegal collective investment schemes (CIS) over a period of 18 years.

Delhi HC restrains unauthorised use of Meesho trademarks by rogue websites

DoT and MeitY to issue blocking order for domain names identified by Meesho in suit

Former F1 boss Ecclestone to be charged with fraud over assets

Former Formula One boss Bernie Ecclestone will be charged with fraud by false representation following a government investigation into his overseas assets, British prosecutors said Monday. Chief Crown Prosecutor Andrew Penhale said after reviewing evidence from the tax office, authorities have authorized a charge against Ecclestone over his failure to declare overseas assets worth more than 400 million pounds ($477 million). Simon York, of Her Majesty's Revenue and Customs, said the announcement followed a complex and worldwide investigation into the 91-year-old businessman's finances. The criminal charge relates to projected tax liabilities arising from more than 400 million pounds of offshore assets which were concealed from Her Majesty's Revenue and Customs, he said. The case is expected to be heard at Westminster Magistrates' Court in London on Aug. 22.

Cons host fake IPL matches in Gujarat's village, took bets from Russians

The first instalment of bets from Russia amounting to Rs 3 lakh had just been delivered when they were caught.

DHFL scam takes CBI to underworld's doors; Chota Shakeel link under probe

The central probe agency has found material showing that public funds were diverted to people allegedly linked to Shakeel, they said.

Chile: Man, who got paid 286 times his salary, resigns and disappears

To retrieve the money, the company has now reached out to various agencies and registered a complaint against the employee

CBI searches five locations in bank fraud case against Delhi company

The CBI on Friday conducted searches at five locations in Delhi after registering an FIR against Delhi-based packaging company Rave Scans Pvt Ltd for allegedly defrauding a consortium of banks

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