Page 12 - Frauds
FIR against 92 teachers in UP for using fake documents to get job
The fraud was detected during a probe by the Uttar Pradesh Special Task Force
 "FIR against 92 teachers in UP for using fake documents to get job")
Sebi fines Rs 10L on 9 people for fraud trading in Pyramid Saimira shares
Markets regulator Sebi on Tuesday slapped a total fine of Rs 10 lakh on nine individuals for indulging in fraudulent trading in the scrip of Pyramid Saimira Theatre Ltd back in 2008.
 "Sebi fines Rs 10L on 9 people for fraud trading in Pyramid Saimira shares")
Govt to announce forensic auditing norms, bring clarity in fraud detection
Standards used now are not clear, resulting in hundreds of cases across India courts filed by borrowers, companies and individuals
 "Govt to announce forensic auditing norms, bring clarity in fraud detection")
Parliament passes Arbitration Amendment Bill to protect taxpayer money
Section 36 of the (Arbitration) Act says the arbitration award be set aside if it is against public policy, said Law Minister Ravi Shankar Prasad in Rajya Sabha
 "Parliament passes Arbitration Amendment Bill to protect taxpayer money")
Sebi slaps fine on three entities for fraudulent trading activities
The penalised entity and individuals are Rachita Shripalkumar Shah, Shripal Sheshmal Huf and Shripal Sheshmal
MSC Bank scam: Hearing on Anna Hazare's plea against closure starts
Maharashtra Deputy Chief Minister Ajit Pawar was one of the accused named in the case
 "MSC Bank scam: Hearing on Anna Hazare's plea against closure starts")
Sebi bars entities, individuals from securities mkt for fraudulent trading
The entities and individuals (noticees) were found to have violated the provisions of Prohibition of Fraudulent and Unfair Trade Practices norms
Sebi bans Tradebizz Research proprietor for 3 years for fraudulent trading
In August 2019, the regulator had passed an ex-parte interim order against Tradebizz Research and Parihar (noticee), directing them not to access the securities market till further directions
Beware of fraud in name of Covid-19 vaccine: Noida police to people
Amid rising cases of online frauds, he said police are carrying out an awareness campaign to keep people informed about changing trends in such crimes
 "Beware of fraud in name of Covid-19 vaccine: Noida police to people")
SFIO searches Sahara's office in Lucknow, probe against group widens
Group's companies suspected to have diverted a huge amount of money to other subsidiaries after taking collections from depositors.
 "SFIO searches Sahara's office in Lucknow, probe against group widens")
Online fraud attempts drop 29% during unlocking period, says study
Such attempts had risen sharply right before pandemic and early part of pandemic by 121 per cent, according to a TransUnion report
 "Online fraud attempts drop 29% during unlocking period, says study")
DHFL case: Auditor reports fraudulent transactions worth Rs 2,150 crore
DHFL is undergoing resolution process under the Insolvency and Bankruptcy Code
 "DHFL case: Auditor reports fraudulent transactions worth Rs 2,150 crore")
McAfee software creator arrested in Spain for fraud, says report
From 2014 to 2018, McAfee allegedly failed to file tax returns, despite receiving considerable income from these sources.
Auditors seek fine-tuning audit report guidelines, approach Sebi, NFRA
The new disclosures and assessments are a part of the Companies (Auditor's Report) order, or CARO, effective this financial year
 "Auditors seek fine-tuning audit report guidelines, approach Sebi, NFRA")
Deceit-free fraud and stigma-free indictment
If society feels that regulations can hold even the innocent to be guilty, the stigma attached to findings of guilt would also erode alongside
 "Deceit-free fraud and stigma-free indictment")
Man arrested for duping over 2500 people by offering phone on EMI
A 32-year-old man was arrested from Ghaziabad for allegedly duping over 2,500 people on the pretext of getting them mobile phones on EMI through fake websites
Indian-American bank president pleads guilty in $17-million fraud
An Indian-American president of a now-defunct New Jersey-based marble and granite wholesaler has admitted his role in scheming to defraud a bank in connection with a $17 million secured line of credit
Show on runaway Indian biz tycoons: Netflix argues for free speech in court
"Bad Boy Billionaires" is a documentary series about liquor tycoon Vijay Mallya, Sahara group's Subrata Roy, Indian IT executive Ramalinga Raju and jeweller Nirav Modi
 "Show on runaway Indian biz tycoons: Netflix argues for free speech in court")
Spike in bank frauds: Lag in reporting or weak internal controls?
Bank fraud numbers may not be as bad as they are made out to be, but their detection and reporting need to improve, writes Raghu Mohan
 "Spike in bank frauds: Lag in reporting or weak internal controls?")
Telangana: ACB files case against 9 accused for swindling Rs govt's 6.5 cr
Anti-Corruption Bureau registered a case against nine persons, including three government officials, in connection with a case connected to misappropriating Rs 6.5 crore government money in IMS
 "Telangana: ACB files case against 9 accused for swindling Rs govt's 6.5 cr")