Page 5 - Frauds

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

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

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

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

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

DHFL auditors discover fraudulent transactions worth Rs 14,046 cr

The administrator of DHFL - R Subramaniakumar - has moved an application in the National Company Law Tribunal (NCLT) based on the findings of the of transaction auditor

Wirecard AG inquiry probes why Germany missed fraud of century

If the closed-door hearings go badly, parliament may trigger a deeper investigation as the country prepares for the post-Merkel era with an election due next year

Indian-origin man pleads guilty to operating unlicensed money transfer biz

A 24-year old Indian-origin man has pleaded guilty to operating an unlicensed money transmitting business that provided essential services to a fraudulent technical-support company

Steve Bannon: Rise & fall of ex-Trump aide now charged in border wall scam

His indictment came on the same morning the Trump administration lost a bid to block a subpoena by the Manhattan district attorney for the president's tax filings

Ex-White House adviser Steve Bannon, others arrested on fraud charges

Federal prosecutors alleged that Bannon and three others orchestrated a scheme to defraud hundreds of thousands of donors in connection with an online crowdfunding campaign

TAIPA warns public about rising cases of tower installation frauds

Industry body TAIPA on Thursday warned the public about increasing cases of tower installation frauds, where scammers posing as agents of telecom firms dupe unsuspecting victims

Indian national sentenced for role in defrauding hundreds of people

According to court documents, Anikkhan Yusufkhan Pathan, 29, while in the US country on a student visa, conspired with individuals in India to defraud approximately 200 people located throughout US

Indian-American tech executive charged for $5.5 mn Covid-19 relief fraud

Mohan, 48, submitted fake and altered documents, including forged federal tax filings and altered incorporation documents in support of Paycheck Protection Program applications

Paytm Payments Bank submits list of 3,500 fraud phone numbers to Trai

Paytm also suggested that telecom operators who sell bulk SMS services should follow stringent KYB process

Rs 1 crore assets in gardener's possession unearthed in Odisha

The sleuths raided house of Udhab Behera working as a gardener-cum-horticultural extension worker at office of the Assistant Director, Horticulture, at Udala sub-division in Mayurbhanj district

NTPC reported 19 cases of contractor irregularities in three years

The irregularities cited include bribes taken from contractors, steel pilferage, corruption in land acquisition deals, and submission of forged bank guarantees

White-collar crime: Losses from frauds rise 80% from last year, says survey

The survey pointed that 3,766 cases of fraud were detected in FY19, a 15 per cent spike from a year ago