Page 2 - Fraud

Future Group, its promoters 'orchestrated and committed' fraud, says Amazon

Warns of legal action to block sale of FRL assets to Reliance Retail as part of a $3.4-billion deal

Instant App-based loan fraud: ED summons senior executives of Google

The agency's Hyderabad office is probing 38 non-banking financial companies (NBFCs) and over 300 fintech firms under the anti-money laundering law

Multi-crore Chinese loan app fraud and extortion racket busted, 8 held

In a major operation, Delhi Police have busted a multi-crore Chinese loan Application fraud and extortion racket and arrested eight people from different parts of the country, an official said

Sebi levies Rs 1.76 cr fine on 26 people for fraudulent trading activities

Capital markets regulator Sebi has slapped fines totalling Rs 1.76 crore on 26 individuals for indulging in fraudulent trading activities in the shares of Gala Global Products Ltd (GGPL). The regulator has imposed penalties ranging from Rs 5 lakh to Rs 10 lakh. Securities and Exchange Board of India (Sebi) had conducted an investigation into the scrip of GGPL during the December 2017- April 2018 period. According to the watchdog, the individuals were connected to each other and had indulged in reversing their trades among themselves for the purpose of creating artificial volume. It also created a false and misleading appearance of trading in the company's shares without the intention of change of actual beneficial ownership. Further, it was revealed that the individuals (noticees) while acting in tandem acted in a manipulative manner to inflate the scrip price. The regulator also noted that some of the individuals by way of trading among themselves had contributed to the new high

'Fraud of huge size': SC upholds winding up of Devas Multimedia

A bench of Justices Hemant Gupta and V Ramasubramanian dismissed the appeal filed by Devas Multimedia

What lessons does Elizabeth Holmes' fall have for startup investors?

Billionaire Elizabeth Holmes, founder of Theranos, has been found guilty of defrauding investors. What lessons does the Homes-saga hold for startup investors back home, this report finds out

Jury in Elizabeth Holmes' fraud case unsuccessfully tries to study at home

The jury deliberating Elizabeth Holmes' criminal fraud charges sent their first note to US District Judge Edward Davila Tuesday afternoon

Elizabeth Holmes takes the witness stand at Theranos criminal fraud trial

Elizabeth Holmes took the witness stand to start telling jurors her side of the story in a criminal fraud trial that has gripped Silicon Valley

7 am-7 pm: The business hours of digital fraudsters, says HDFC Bank

65%-70% of cyber frauds happen during banks' business hours since fraudsters want to gain the trust of their victims and sound convincing, said an HDFC Bank executive

Indian team backs IBM's Telum chip aimed to stem $30 bn consumer fraud loss

IBM Telum Chip: The team owned a significant portion of the logic design, verification and validation, in addition to the complete physical design of the new dedicated on-chip accelerator

US SEC charges BitConnect founder Satish Kumbhani with $2 bn crypto fraud

US Securities and Exchange Commission charged BitConnect founder Satish Kumbhani, an Indian citizen, with lying about BitConnect's ability to generate profits

Singapore files 13 additional charges in massive nickel trading fraud

Singapore prosecutors on Monday filed 13 additional charges against a local businessman in relation to a scheme that allegedly raised more than $746 million from investors to fund bogus nickel trades

Four foreign funds in limelight for skewed investment in Adani group firms

Elara India Opportunities Fund, Albula Investment, APMS Investment and Cresta Fund have invest­ment in a number of domestic­ally listed firms besides the Adani group firms

Ram Janmbhoomi Trust refutes allegations of fraud in land purchase

Shriram Janmabhoomi Teerth Kshetra Trust general secretary Champat Rai on Sunday termed the charges as "misleading and motivated by political hatred"

Delhi Police busts fraud syndicate operated by Chinese nationals, 11 held

Delhi Police's Cyber Cell on Wednesday busted a syndicate run by a group of Chinese nationals who were stealing data and have cheated over 5 lakh Indians of over Rs 150 crores via fake investment apps

Banks in India report loan fraud worth Rs 5 trn, SBI's amount largest

Data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021

Delhi HC asks police to file status report on plea for action against FB

The Delhi High Court has asked the city police to file a status report on a plea seeking a direction to authorities to take action against Facebook and senior officials for alleged criminal acts

Due diligence failure facilitated fraud

In a case of fraud, the National Commission found that a postal department had handed over a cheque meant for a couple to another person without an authorisation letter

Three booked over fake donation receipts for Ram temple construction

Three men including a printing press owner have been booked for allegedly duping people on the pretext of raising funds for the Ram temple construction

CBI books Hyderabad firm for Rs 4,736 cr loss to SBI consortium

The CBI on Saturday said it has registered a case against a Hyderabad-based Coastal Projects Ltd