The alleged mastermind of the scheme Chelsea-based Indian entrepreneur Nandan Pruthi and his business partners Kenneth Peacock and John Anderson were arrested after a series of raids conducted by the London police in the city, the Observer newspaper reported.
'So much so we don't feel the need to create anything, but just bask in that glory.' 'It's time to move on.' 'How much burden can you put on a person or the legacy of the person?'
The Madoff case has become a powerful symbol. The odd thing is, no one is exactly sure what it is a symbol of.
The disgraced money manager's victims include a who's who of wealth and celebrity.
The ED had sent summons to the painter, considered close to ruling Trinamool Congress in West Bengal, for the second time to seek clarification on the business deal he had entered into with Sudipto Sen, chief of Saradha group.
Financier Bernard Madoff has pleaded guilty to all 11 charges in one of the largest swindles in Wall Street history. He faces as many as 150 years in prison when sentenced.
As Rose Valley resurfaces, Sudip Bandyopadhyay and Tapas Pal's arrests marks the end of the bonhomie between the TMC and BJP.
The prime minister witnessed the protests when he travelled to the Raj Bhavan in Guwahati, where he will spend the night, from Lokopriya Gopinath Bordoloi International Airport.
Javadekar asserted that the first 50 days have shown that Modi government's second term will be more effective and will build on the success of its previous tenure.
In a fresh ponzi clampdown, Sebi on Wednesday barred Kolkata-based Rose Valley group from raising public money in the name of 'holiday membership' scheme, through which it is estimated to have garnered over Rs 1,000 crore (Rs 10 billion) without necessary regulatory approvals.
Promoters of world's cheapest smartphone refund customers' money, close fresh bookings
Sandeep Modi's Chumbak spins a magical web around you, says Prasanna D Zore.
The BJP will need to win at least six seats to remain in power.
Imran, a Rajya Sabha MP, reached the agency's office in Salt Lake here and will be questioned about his connections with the defunct group owned by jailed Saradha Chairman Sudipta Sen.
The businessman was summoned at the ED's office and was asked questions about the purported links of the alleged main accused of the case Amit Bhardwaj with his businesses.
This is 1 per cent higher than the interim rate of 8.5 per cent announced for 2004-05.
Mamata Banerjee predicts the BJP-led NDA will not get more than 150 seats in the next Lok Sabha election.
Check out what happened in the world of business this past week.
Sudipto Sen, chairman of the Saradha Group, who was arrested in April last year after the Saradha bubble burst, today came to attend the hearing of the commission. "I want Saradha Group's property to be auctioned to return money to all creditors," Sen said while leaving.
The Enforcement Directorate probing the money laundering aspect in the Burdwan blast case has unearthed a few suspect bank accounts and would probe whether they were linked to terror funding.
There were conflicting reports about some CBI officers being arrested.
Another TMC MP Tapas Pal has been sent to judicial custody after six days in CBI custody.
'I have tutored my family and myself to fight hunger,' the former agent for the disgraced Saradha chit fund says, his eyes welling up. 96 of the 107 cases referred to the Serious Fraud Investigation Office are based in Bengal!
The chargesheet had been filed under sections 120b, 409 and 420 of IPC (criminal conspiracy, criminal breach of trust and cheating) and also under sections four and six of Prize, Chit and Money Circulation Schemes (Banning) Act 1978.
Judge Uttam Kumar Nandy granted the former state transport minister bail on two sureties of Rs 15 lakh each.
The owner of a rural chit fund firm, active in two south Bengal districts, died on Thursday in Hooghly district taking the ponzi scheme fiasco deaths in the state to 14.
If Bhansali has Rs 10 crore why isn't it being used to repay creditors? says Sucheta Dalal.\n\n\n\n\n\n
The agency was probing aspects like criminal conspiracy, misappropriation of funds and criminal breach of trust in the Saradha episode.
CBI is also probing a criminal conspiracy angle of the Saradha scam.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
The Bharatiya Janata Party leader, who travelled by road from Jharkhand to this West Bengal town to address a rally after being denied permission earlier for landing helicopter in the state, targeted the Trinamool Congress chief for opposing the Central Bureau of Investigation's attempt to quiz the Kolkata police chief in connection with the ponzi scams.
The investigative agency plans to file a second chargesheet, naming more perpetrators in the Saradha scam.
Out of these, no balance has been found in case of 289 accounts
Bharara's presence at Trump Tower provoked much curiosity.
'The childhood urge to amass wealth may account for one's inexplicable urge to stockpile change, for there is nothing more gratifying than to lift a box heavy with one's treasure, more satisfying somehow than all the zeroes the Kochhars, Modis and Mallyas appear to have allegedly scammed our banks over,' says Kishore Singh.
Abhinay Deo's film never runs short of bite and sting, says Prasanna D Zore.
Breaking her silence over the Saradha scam, West Bengal Chief Minister Mamata Banerjee on Tuesday said she would quit if allegations of her closeness to the ponzi company was proved.
Saradha scam accused Kunal Ghosh on Monday threatened to commit suicide if the CBI did not take proper action against 'those involved' within three days in front of a magistrate when he was produced before a city court.
Moving ahead in the multi-crore Saradha chit funds scam case, the Enforcement Directorate (ED) on Wednesday attached assets, including a school, a cement factory and few resorts, worth Rs 60 crore (Rs 600 million) in West Bengal in connection with its money laundering probe.
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