Page 9 - Frauds

Six held for cheating HDFC Bank credit card holders of Rs 1.61 lakh

Six men were arrested from a hotel located on the Mehrauli-Gurugram road for allegedly cheating HDFC Bank credit card holders of Rs 1.61 lakh, the police said on Monday

Delhi HC summons Ashneer Grover, wife and kin over BharatPe's complaint

Fintech unicorn accuses them of fraud, claims Rs 88.67 crore

Elizabeth Holmes appeals her Theranos fraud conviction, prison term

Lawyers for Holmes, 38, filed a single-page notice of appeal without disclosing on what grounds she will ask the Court of Appeals to overturn the guilty verdict reached by a jury 11 months ago

Telangana HC slams 'mechanical way' of issuing GST show cause notice

Court says notice for cancelling registration should not be sent out in cavalier manner

Elizabeth Holmes sentenced to 11 years in prison for Theranos Fraud

"I am devastated by my failings," Holmes said. "Looking back there are so many things I'd do differently if I had the chance. I tried to realize my dream too quickly."

Elizabeth Holmes faces years in prison for her crimes in Theranos collapse

Holmes stands out among white-collar criminals because relatively few of them are women convicted of such serious fraud, legal experts say

More preventive measures needed to curb corporate frauds: Sebi official

Since corporate frauds are inevitable to happen, principle and rule-based regulations are not effective remedy to curb such criminalities but more preventive measures are needed, a senior Sebi official said here on Thursday. Admitting that all companies, both publicly traded as well as privately held are vulnerable and susceptible to frauds, SK Mohanty, a whole-time member at the Securities and Exchange Board said the regulator is taking multiple measures to curb frauds and strengthening its enforcement mechanism. Addressing a seminar on corporate frauds organized by the industry lobby CII, he said diversion of funds leads to erosion of wealth for shareholders and also leads to ethical crisis and reputational risk for both regulators as well as regulated entities. Emphasising that frauds are neutral and can take place in any company irrespective of whether it is listed or not, and more so, in the wake of instances of digital data thefts and technological risks, Mohanty expressed ...

Regulations not a remedy for fraud: Sebi whole time member SK Mohanty

According to a survey, 47 per cent respondents considered lack of visibility over third parties as the biggest concern to bribery and corruption

Over 50% Indian firms experienced economic crime in 2 years: Survey

95% of them suffered new types of fraud as a result of the disruption caused by Covid-19

Unidentified people booked for swindling Rs 20 crore Delhi Jal Board fund

The ACB said that the department would investigate the role of the DJB officials and other private players in the alleged embezzlement that it claimed took place between 2012 and 2019.

ED files chargesheet against 19 people in Rs 2,215.98 cr fraud case

ED has learnt during the investigation that the accused individuals duped the innocent buyers by promising them to deliver flats/plots/commercial spaces, etc. However, they failed to deliver project

CBI arrests pvt firm director in bank loan fraud case of Rs 1,530.99 cr

CBI on Friday arrested the Director of a Ludhiana-based private company in an ongoing investigation of a case related to an alleged bank fraud of Rs 1,530.99 crore, an official said

Trump, adult children sued by New York attorney general for fraud

New York's attorney general sued former President Donald Trump and his company on Wednesday, alleging business fraud involving some of their most prized assets, including properties in Manhattan, Chicago and Washington, DC. Attorney General Letitia James' lawsuit, filed in state court in New York, is the culmination of the Democrat's three-year civil investigation of Trump and the Trump Organisation. Trump's three eldest children, Donald Jr, Ivanka and Eric Trump, were also named as defendants, along with two longtime company executives, Allen Weisselberg and Jeffrey McConney. The lawsuit seeks to strike at the core of what made Trump famous, taking a blacklight to the image of wealth and opulence he's embraced throughout his career first as a real estate developer, then as a reality TV host on The Apprentice and Celebrity Apprentice, and later as president. James, a Democrat, was to announce details of the lawsuit at a news conference on Wednesday. The case showed up on a court ..

CBI files charge sheet against Rana Kapoor, Gautam Thapar in Yes Bank fraud

The CBI has filed a charge sheet against former Chief Executive and Managing Director of Yes Bank Rana Kapoor as well as Avantha Group promoter Gautam Thapar in the Rs 466.51 crore alleged fraud in the bank, officials said. Kapoor was not named a suspect in the FIR registered on June 2 last year in the case. His role, however, surfaced during the investigation, they said. In its charge sheet filed before the special CBI court in Mumbai, the probe agency has also named Thapar in the scam. The FIR was registered against Thapar, directors of Oyster Buildwell Pvt Ltd (OBPL) -- Raghubir Kumar Sharma, Rajendra Kumar Mangal and Tapsi Mahajan --, unidentified executives of Avantha Realty Pvt Ltd and Jhabua Power Ltd, on a complaint from Yes Bank CVO Ashish Vinod Joshi. Kapoor is also co-accused with Thapar in another case related to alleged diversion of public money in Yes Bank in exchange for a high-end property at an upscale neighbourhood of Delhi, they added.

Irdai mulls SFIO-like independent agency to probe cases of insurance fraud

Insurance Fraud Investigation Agency proposed via Insurance Act amendment

SBI Card ready with card tokenisation mandate: MD & CEO Rama Mohan Rao

The pure-play credit card issuer SBI Card has prepared the ground for moving towards card tokenization, which is set to kick-in from October, a move aimed at protecting against fraud as well as data theft. "In terms of our preparation, readiness wise, technology wise, integration with all the networks, we are ready with all the networks like Visa, Mastercard and RuPay," Rama Mohan Rao Amara, MD & CEO, SBI Cards and Payment Services (SBI Card) told PTI on Thursday. As per the Reserve Bank of India (RBI), tokenisation refers to replacement of actual card details with an alternate code called the "token", which shall be unique for a combination of card, token requestor and device. A tokenised card transaction is considered safer as the actual card details are not shared with the merchant during transaction processing. On card tokenization, Amara said "It is a very good measure in terms of protecting the consumer interest and ensuring against any data leakage." In late June, the RBI .

After a decline in Covid-hit 2020, economic offences increase 19% in 2021

Rajasthan records highest number of cases, followed by Telangana

RBI to set up fraud registry to check banking frauds: Executive Director

Payment system participants will be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks

Taking action against dubious digital loan apps, says FM Sitharaman

Most of the dubious apps are originating from one particular country and as a result a lot of borrowers are harassed and money is being extorted from by these apps, she said

CBI seizes AgustaWestland chopper in DHFL loan fraud case of Rs 36,415 cr

In a latest development in connection with the DHFL loan fraud case of Rs 34,615 crore, the Central Bureau of Investigation (CBI) on Saturday said it has seized a helicopter parked at a hangar