Ponzi Scam

CBI arrests Pearls Group director Harchand Gill in multi-crore ponzi scam

The CBI has arrested Harchand Singh Gill, a director of the Pearls Group, who was deported from Fiji in connection with a multi-crore ponzi scam allegedly orchestrated by his company, officials said on Tuesday. Gill was brought from Fiji late Monday night after being deported from the archipelago under 'Operation Trishul' which was launched by the Central Bureau of Investigation (CBI) to bring back fugitives living abroad, they said. The CBI claims that around 30 fugitives were successfully brought to India under the operation since its launch last year. The operation aims to geo-locate proceeds of crimes and fugitives with the help of Interpol and bring them back. The agency started the investigation against the Pearls Group and its founder Nirmal Singh Bhangoo on February 19, 2014 on the allegations of cheating crores of gullible investors by offering them land in return of their investments. The agency has alleged that over Rs 60,000 crore was siphoned off by the company by dup

Ponzi scam: Arrested TMC leader remanded to 5-day CBI custody by court

Trinamool Congress leader and chairman of Halisahar municipality in North 24 Parganas district of West Bengal, Raju Sahani was remanded to five days of CBI custody

TMC to protest before CBI office demanding Suvendu's arrest in ponzi scam

An 8-member delegation, led by state Education minister, will meet Governor Jagdeep Dhankhar on Tuesday seeking action against Adhikari, a BJP leader, for his "involvement in corrupt activities".

CBI to interrogate Bengal minister on Monday in I-Core ponzi scam case

CBI will question West Bengal minister Manas Ranjan Bhunia at his residence on Monday in connection with its probe into the I-Core ponzi scam, a source in the agency said

Bernie Madoff, mastermind of giant Ponzi scheme, dies in prison at 82

Madoff admitted swindling thousands of clients out of billions of dollars in investments over decades

ED arrests 3 in Rs 6,380-crore ponzi fraud that duped many investors

The ED has arrested three promoters of a south India based company on money laundering charges in an over Rs 6,300 crore alleged chit fund fraud case

How to sniff and dodge financial scams and keep your wealth intact

Here are some tools that will help you detect a scam from a mile away and avoid touching one even with a 10-foot barge pole

ED interrogates Rose Valley owner Gautam Kundu's wife in ponzi scam case

Shubhra Kundu, who had evaded ED summons for the last three consecutive times, appeared before the investigation agency officials and was quizzed for more than three hours

ED attaches Rs 239-cr assets of TMC MP's firm over Rs 1,900-cr ponzi scam

Investigations revealed that funds mobilised from various investors were never utilised for the purpose for which they were collected and the same was transferred to bank accounts of other companies

Ponzi scam: ED attaches PACL group's property worth Rs 4.72 bn

Sebi had collected Rs 491 billion over a period of 15 years from investors through a collective investment scheme in garb of sale and development of agriculture land