Page 2 - Frauds

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

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