In a statement, the prosecutor's office said Ronaldo had knowingly used a "business structure" created in 2010 to hide his income in Spain from his image rights.
'This year's detection of frauds and probable recovery will be mainly driven by several compliance measures put in place, and amendments made to the GST regime to plug revenue leakages particularly in new-edge sectors.'
Want a stress free vacation? Amar Pandit tells you what you need to keep in mind.
With YSR Congress leader Jaganmohan Reddy in jail for alleged acts of financial frauds, it was his mother Vijayamma who took on the mantle of running the party in his absence.
The Financial Intelligence Unit (FIU), the federal economic snoop agency under the Union finance ministry, sent 289 legal requests to its counterparts across the globe during 2018-19 as compared to 177 in 2017-18 and 138 in 2016-17.
Disgraced American businessman Allen Stanford, who bankrolled a $20 million Twenty20 match between England and West Indies before being convicted of defrauding investors, has been sentenced to 110 years in prison.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
The investigation pertains to a case against Pranav Jewellers, a partnership firm based in Tiruchirapalli, whom the ED raided on November 20 and claimed to have seized "unexplained" cash of Rs 23.70 lakh and some gold jewellery.
The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
On the 10th anniversary of the global financial crisis, a multi-part series analyses the lessons learnt and those not learnt.
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
US short seller Hindenburg Research has rejected Adani Group's charge that its report was an attack on India, saying a "fraud" cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations. Commenting on the 413-page response Adani Group released late on Sunday evening in response to its report, Hindenburg said it believed India was a vibrant democracy and an emerging superpower with an exciting future and it was Adani Group which was holding it back through "systematic loot". Hindenburg stood by its last week's report that said its two-year investigation found Adani Group "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
Google said safety, affordability and expanded use cases for the next wave of users will be the pillars to get the next 700 million users online.
Under the Companies Act, 2013, auditors have the responsibility of reporting frauds, at entities being audited by them.
ICAI intends to investigate the chartered accountants of PNB but the bank allegedly refuses to give the information sought.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
The onus is on companies to put in place a vigil mechanism to detect and deter fraud.
The case lodged against Samajwadi Party leader Amar Singh and others for alleged financial fraud amounting to Rs 500 crore would be handed over to Kolkata police for further investigation, the Uttar Pradesh government said on Saturday.
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
I strongly believe that if the government does indeed have the mindset and launches the machinery to severely punish white collar criminals, my life will be easier albeit in a convoluted manner.
The Enforcement Directorate, the agency under the finance ministry exclusively dealing with violations of foreign exchange regulations, is part of the multi-disciplinary investigation team probing the Satyam accounting scam.
According to a complaint from Bank of Baroda, the conspirators allegedly cheated a consortium of bank loans of Rs 3,695 crore. The scam was earlier estimated at around Rs 800 crore.
Having millions doesn't mean you don't lose sleep. A look at what weighs on the wealthy.
Companies don't have to be in the field to nudge people to return money they owe lenders.
The CBI counsel argued that if Raju and Srinivas were permitted to operate laptops they could get access through wireless internet to anybody and destroy the evidence of prosecution.
The auditors also said that the company is in the process of monetising its assets and has submitted a draft resolution plan to the consortium of bankers for restructuring its borrowings and also there have been discussions for stake sale by the promoters to a strategic partner with further equity infusion.
A former Rochdale Securities trader whose unauthorised purchase of about $1 billion of Apple Inc stock caused the demise of the company pleaded guilty to fraud and conspiracy.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Three reasons why this is the best time for financial planning.
The Andhra Pradesh government has scrapped its 10-month-old agreement with Maytas Infrastructure-led consortium for the implementation of the prestigious Rs 12,230-crore (Rs 122.390 billion) Hyderabad Metro Rail Project.
The court wants to examine all the accused, including B Ramalinga Raju, in regard to allegations mentioned against them by the CBI in two separate chargesheets before commencing the trial.
The court also extended the judicial remand of all the 10 accused till March 18.
"The company wishes to point out to investors that reported allegations regarding the magnitude of investor harm or historical misstatements in the company's accounting records do not necessarily shed light on the present financial position and liabilities of the company."
The CBI has filed an FIR against Amrapali Leisure Valley Developers Pvt Ltd, its director Anil Sharma and others for allegedly cheating Bank of Maharashtra and Andhra Bank of over Rs 230 crore, officials said on Friday. The banks had sanctioned credit facilities to develop a housing building at the Tech Zone IV in Uttar Pradesh's Greater Noida on a plot measuring 1.06 lakh square metre, the FIR alleged. The company failed to maintain financial discipline following which the account was declared a non-performing asset on March 31, 2017, the complaint from Bank of Maharashtra, now part of the FIR, has alleged, adding that "it has resulted in the loss of over Rs 230.97 crore". Following the FIR, the CBI Thursday conducted searches at four locations in Delhi, Noida and Ghaziabad, they said.
France's TotalEnergies has put on hold a planned investment in Adani Group's $50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller, chief executive Patrick Pouyann said on Wednesday. While the partnership where the French oil giant was to take a 25 per cent stake in the hydrogen venture of the Adani group was announced in June last year, TotalEnergies has not yet signed a contract, he said at an earnings call. "Obviously, the hydrogen project will be put on hold until we have clarity" from Adani group on the allegation levelled by US short-seller Hindenburg Research, Pouyanne said.
'We don't trade with any business where we have specific concerns,' a De Beers spokesperson said.
A local court on Thursday dismissed the petition filed by Satyam Computers former MD Rama Raju and its ex-CFO Vadlamani Srinivas, seeking permission to use laptops in jail.
The Institute of Chartered Accountants of India has recommended strict penal action, including imprisonment, for auditors who are found associated with serious accounting frauds.
The arrest of ICICI Bank's former Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar by the Central Bureau of Investigation (CBI) in a loan fraud case was "without application of mind and due regard to the law", amounting to an "abuse of power", the Bombay high court has said. A division bench of Justices Anuja Prabhudessai and N R Borkar had on February 6 held the Kochhars' arrest as illegal and confirmed a January 2023 interim order passed by another bench granting them bail. In the order made available on Monday, the court said the CBI has been unable to demonstrate the existence of circumstances or supportive material based on which the decision to arrest was taken.
