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 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 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 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.
Suspended Trinamool Congress MP Kunal Ghosh, who was arrested on November 23 in connection with the Saradha Group chit fund scam, was today granted bail in the first among several cases lodged against him.
Former Assam Director General of Police Shankar Barua, quizzed recently by the Central Bureau of Investigation in connection with Saradha scam, allegedly shot himself dead at his residence on Tuesday.
A special task force of the SFIO recently submitted an interim report to the Corporate Affairs Ministry in this regard.
The central bank's move comes against the backdrop of the government efforts to crackdown on entities, that are illegally raising large amounts of money from the public.
Accusing the Biju Janata Dal government in Odisha of hijacking the credit for the work done through the welfare programmes of UPA government, Congress vice-president Rahul Gandhi on Monday claimed the state is ruled by "mine mafia" and not by the people's representatives.
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He said that between 2000 and 2014, not a single entity got registered under the Collective Investment Scheme (CIS) regulations, which was introduced in 2000.
ED probe finds funds were ploughed into group's jewellery, entertainment and hospitality businesses
Dissident Trinamool Congress Rajya Sabha MP Kunal Ghosh, whose name has cropped up in the Saradha chit fund scam and who was served a show-cause notice for speaking against party chief Mamata Banerjee, was suspended from the party on Saturday, while two other MPs who had also hit out at the leadeship were spared.
The rest, investigators claimed, were floated as "dummies" to act as cover for unleashing the alleged ponzi scheme.
The regulator is also exercising its new powers like collection of information from other regulators, government departments and even commercial enterprises such as telecom companies and banks.
Former Trinamool Congress MP Kunal Ghosh also appeared before the probe agency in Meghalaya.
Industrialist Yash Birla, as also two Mumbai-based individuals behind City Limousines scam, are among five Indian nationals with Swiss bank accounts.
'A separate 'Investigation Agency (Other Offences)' or IA(OO), can be created under the state governments, with the expertise and resources required for investigating non-violent offences,' recommends Alok Tiwari, a Cabinet Secretariat officer.
The CA insitute had asked the SFIO numerous times for details against the auditor, but it has not been furnished till now
The Enforcement Directorate on Wednesday night arrested the wife and son of the alleged kingpin of the multi-crore Saradha chit fund scam accused Sudipta Sen in a money laundering case.
With just 10 detectives under his leadership and in about three weeks' time, Senior Superintendent of Police of Uttar Pradesh's Special Task Force Amit Pathak cracked an online digital racket that swindled 600,000 people and is now worth Rs 3,700 crore and counting.
The Cricket Board has rubbished former England great Ian Botham's criticism of the highly lucrative Indian Premier League, saying he had no locus standi, and advised him to first get his facts right before commenting on the Twenty20 League.
BJP alleged that it was an attempt by a "grand alliance of most corrupt parties" to ensure that its "corruption" was not exposed.
Sebi, which has been given powers to take action against all unregulated money pooling schemes worth over Rs 100 crore (Rs 1 billion) besides all public issuances of securities, has issued this fresh caution notice at a time when a large number of people have been duped by numerous schemes in various states and enforcement action is underway against such operators.
Continuing to shed its famed banking secrecy veil, Switzerland today made public more names about which it has been approached from abroad for information, even as it published fresh gazette notifications about two Indians -- Sayed Mohammed Masood and Chand Kauser Mohammed Masood.
Bitcoin currently trades at a price of $400 a unit, as against lofty highs of $1,200 early this year
In a brief letter to his colleagues and shareholders, Dimon disclosed that the cancer was detected quickly and is confined to the original site and adjacent lymph nodes on the right side of his neck with no evidence of cancer elsewhere in his body.
While RBI is yet to come out with a clear regulatory framework for bitcoins, which have been gaining currency across the world over the past few months, it has issued an advisory cautioning general public against use of bitcoins and other virtual currencies.
US regulator seeks Sebi's help in probing online Ponzi scheme run by duo under American names
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector.
'There is no evidence of newspapers and television channels ganging up to wage a coordinated war to expose the BSP, destroy the AIADMK, malign Kejriwal, discredit Lalu or defame Mamata.' 'But it's of interest that none of these exposes threatens the 12 states the BJP controls,' says Sunanda K Datta-Ray.
Trinamool Congress MP and actor Mithun Chakraborty on Tuesday surrendered to Enforcement Directorate an amount of about Rs 1.2 crore that he had received from scam-hit Saradha group of companies for being its brand ambassador.
The Enforcement Directorate questioned Trinamool Congress MP and actor Mithun Chakraborty in connection with the multi-crore Saradha chit fund scam.
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