Financial Fraud

Lok Sabha adjourned for a day due to Opposition's protest over Adani issue

Lok Sabha proceedings were adjourned for the day on Friday as Opposition members raised slogans demanding a discussion and a joint parliamentary committee probe into the fraud-allegation-triggered rout in Adani Group company stocks. Soon after the House met for the day, Opposition members were on their feet shouting slogans and demanding a probe into the tanking of the Adani Group scrips and sought a probe into the business practices of the corporate giant. Speaker Om Birla appealed to members to stop their protests and participate in the discussions. However, an unrelenting Opposition continued their protests and sloganeering, forcing the speaker to adjourn the proceedings till 2 pm. After the House met for the second time in the day, opposition members continued with their demand. Amid sloganeering, Rajendra Agarwal, who was in the Chair, allowed the laying of parliamentary papers in the House. Agarwal also appealed to Opposition members to go back to their seats and allow ...

Fraudster messages officials, demands gift cards in commissioner's name

Several persons in the city including junior police officials recently received a fraudulent message seeking digital gift cards "urgently" in the name of Mumbai police commissioner, an official said on Friday. The unidentified person or persons sending WhatsApp messages used police commissioner Vivek Phansalkar's photo as the display picture (DP), he said. The message asked the recipients to send 20 digital gift cards of e-commerce firm Amazon worth Rs 10,000 in total, the official said. The city police has warned its officials not to fall for the fraud, he added. "There is something I need you to please do for me urgently as I am currently attending a very crucial meeting with limited phone calls....There are some listed prospect I am presenting them to today. I can't get it done myself due to meetings and i don't have any of my cards with me. How quickly can you arrange these gift cards because I need to send them out in less than an hour. I would provide you with the type of ..

Fraudster seeks gifts from officials in Mumbai police commissioner's name

Several persons in the city including junior police officials recently received a fraudulent message seeking digital gift cards "urgently" in the name of Mumbai police commissioner, an official said on Friday. The unidentified person or persons sending WhatsApp messages used police commissioner Vivek Phansalkar's photo as the display picture (DP), he said. The message asked the recipients to send 20 digital gift cards of e-commerce firm Amazon worth Rs 10,000 in total, the official said. City police has warned its officials not to fall for the fraud, he added. "There is something I need you to please do for me urgently as I am currently attending a very crucial meeting with limited phone calls....There are some listed prospect I am presenting them to today. I can't get it done myself due to meetings and i don't have any of my cards with me. How quickly can you arrange these gift cards because I need to send them out in less than an hour. I would provide you with the type of gift ..

Cybercriminals hack retired teacher's bank account, withdraw Rs 21 lakh

Cybercriminals allegedly hacked the bank account of a retired school teacher in Annamayya via WhatsApp link and stole Rs 21 lakh

Canadian tycoon sentenced to 13 years of jail in China for finance crimes

A Chinese-born Canadian tycoon who disappeared from Hong Kong in 2017 was sentenced Friday to 13 years in prison for a multibillion-dollar string of financial offenses and his company was fined $8.1 billion, a court announced. Xiao Jianhua was convicted of misusing billions of dollars of deposits from banks and insurers controlled by his Tomorrow Group and offering bribes to officials, the Shanghai No. 1 Intermediate People's Court said on its social media account. Xiao was fined 6.5 million yuan ($950,000) and his company was fined 55 billion yuan ($8.1 billion), the court said. Xiao was last seen at a Hong Kong hotel in January 2017 and was believed to have been taken to the mainland by Chinese authorities. News reports later said he was under investigation by anti-graft authorities, but no details were released. The Canadian government said diplomats were blocked from attending his July 5 trial. Tomorrow Group has been linked to a series of anti-corruption prosecutions and seiz

Germany's Wirecard faked client data to gain £900 mn from SoftBank: Report

Collapsed fintech firm has admitted that half of its revenues and cash worth 1.9 billion euros is missing from accounts

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

Some gaps in ILC recommendations on resolution process, say experts

Report seen as unclear on who should pursue cases related to avoidable transactions and improper trading under bankruptcy code

Post office held liable for fraud by its official

The Supreme Court noted that KVP Rules, 1988, and the Post Office Savings Bank Manual mandate payments exceeding Rs 20,000 be made via cheque in holder's favour

BharatPe co-founder & MD Ashneer Grover not granted reliefs by SIAC

Grover had filed an arbitration plea to stop a probe into alleged financial mismanagement in the company, and had also sought indemnity

Niira Radia questioned for four hours in Rs 300 cr loan embezzlement case

The Economic Offences Wing of the Delhi Police questioned Niira Radia for nearly four hours in connection with an alleged Rs 300-crore loan embezzlement case, officials said on Sunday

India inspects Carlsberg accounts for alleged impropriety: Report

The Registrar of Companies has issued a notice to Carlsberg India seeking its response and is preparing to summon the board of directors soon

Mahatma Gandhi's great-granddaughter sentenced to 7 yrs in jail in S Africa

A 56-year-old great-granddaughter of Mahatma Gandhi, who was an accused in a six-million rand fraud and forgery case, has been sentenced to seven years in jail by a Durban court

Govt likely to drop plan to decriminalise cheque bounce offences

It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call

Govt to set up intelligence unit to tackle pesky calls, financial frauds

The telecom ministry will set up an intelligence unit and a consumer protection system to tackle pesky calls, financial frauds

Sebi probed 161 new cases in 2019-20; a decline of 17% from last year

A total of 161 fresh cases were taken up for investigation by Sebi in 2019-20, as per the regulator's latest annual report

Uttarakhand CM orders probe into irregularities in animal husbandry dept

Gandhi had recently written to the chief minister alleging misappropriation of funds in the board in the purchase of food for sheep and goats in Uttarkashi and Pithoragarh districts

RBI forms working group on digital lending as frauds come into sharp focus

The group will suggest steps to regulate digital lending including online lending platform and mobile lending

Some tips to limit damage if you've fallen prey to financial data theft

Breaking down the steps you can take if your information is stolen and how you can limit your exposure to fraud

Ex-Microsoft engineer gets nine years in prison for stealing $10 million

At his sentencing hearing, US District Judge James Robart said Kvashuk "didn't have any respect for the law"