When someone presents an amazing financial opportuity to you or promises to double your money in a month ask this question of yourself: Is this too good to be true? If the answer is yes, better step back and look for investments elsewhere.
A special Central Bureau of Investigation court in Mumbai has convicted four former bank officials in one of the multi-crore securities scam cases and sentenced them to three years imprisonment, 25 years after the scam involving 'Big Bull' Harshad Mehta came to the fore.
The court accepted the plea of Enforcement Directorate for issuance of Letters Rogatory to authorities in the two countries as investigations allegedly revealed that Dr Amit, a quack, had made offshore investments in properties and banks.
The initial findings, when corroborated with the charges made by the CBI, indicate towards a lage-scale front-running deals or shares being purchased or sold in these companies on the basis of prior knowledge about investment decisions being made by large institutional investors, a senior Sebi official said.
Don't invest more than 5 per cent of your portfolio in bitcoin. The virtual currency's price has run up very fast and experts feel a correction may be around the corner.
He also hit out at the Congress saying governments in the past 70 years kept quiet on blackmoney because they were worried about losing power.
The prime accused deployed a modus operandi of claiming the investment in real estate purchased in the name of third party as unsecured loan
Justice Shalini Phansalkar Joshi, who presides over the special court set up for cases related to the 1992 securities scam, said in her judgment last week that there was no hesitation in holding that that the prosecution had failed to prove the case beyond reasonable doubt.
Retirement fund manager EPFO has decided to suspend further investments in the LIC Housing Finance till CBI completes investigations into the alleged involvement of its top official in the bribes-for-loans scam.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
'...you start running after the star.' 'If the star says yes to the film, the ecosystem supports it.' 'The biggest cog in the wheel of the ecosystem is the audience and we forget that.'
Its success script: Investing more in local content ecosystem; growing its partnership footprint.
An Indian-origin man and his two partners in one of Britain's largest investment scams were today ordered to pay nearly 115 million pounds for illegally accepting deposits from customers without authorisation from the Financial Services Authority (FSA).
An Indian-origin former accountant has been sentenced to seven-and-a-half years' imprisonment for duping people of 100 million ($197 million) in an international scam. Shinder Singh Gangar, 46, from Leicestershire, promised clients a return of up to 160 per cent a year on money invested with him. But there was no investment scheme and the money was not invested as promised. Instead it was put into offshore bank accounts.
Most politicians and even non-politicians have been honoured because of what they were purported to be electorally worth for the ruling party of their time, argues N Sathiya Moorthy.
The second charge sheet may highlight some more financial transaction made by Raju and some of his associates.
The particular matter with Nalini pertains to the legal fee paid to her by the Saradha group.
The ruling Congress in Maharashtra has cut a sorry figure after its leader, former chief minister Ashok Chavan, has been chargesheeted in the Adarsh Housing Society scam.
Reddy, who appeared at the Central Crime Branch office in Bengaluru on Saturday, was arrested after the questioning ended on Sunday morning
The Congress-led opposition stepped up its attack on Friday against the government over the Adani row and demanded that there should be a thorough investigation into what they alleged was a 'mega scam' as it involved public money.
The Income Tax Department on Tuesday also raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them, official sources said.
The Central Bureau of Investigation is likely to question Congress MP and industrialist Naveen Jindal on Friday in connection with a case of alleged cheating and criminal conspiracy in bagging Amarkonda Murgadangal coal block in Birbhum in 2008.
Though a popular savings option in India's villages and towns, chit funds have resulted in scams too. Here's what you must know about chit funds before investing your money.
Both the Lok Sabha and Rajya Sabha were adjourned till 2 pm after opposition members held protest in Parliament seeking a discussion on the issue.
Completing its over a-year-long probe into Saradha scam, the Serious Fraud Investigation Office (SFIO) has submitted its final investigation report to the government, which may soon start prosecution proceedings for numerous serious violations found during investigations.
NSEL scam: Brokers of IIFL, Anand Rathi, Geojit arrested.
The alleged scam pertains to the period when Lalu Prasad was the railway minister in the UPA-1 government at the Centre.
Pakistani authorities are still probing a multi-billion rupee scam involving private power projects and could summon Prime Minister Raja Pervez Ashraf, who held the power portfolio when some of the projects were cleared, according to a media report.
The news of Bengaluru-based IMA cheating thousands once again underlines the need for investors to steer clear of unregulated deposit schemes. The most important sign of a Ponzi scheme is the promise of exorbitant returns and so investors must ask how the promoter expects to earn the kind of return he is promising, says Sanjay Kumar Singh.
Intel Capital has announced an investment of $23 million (about Rs 1.15 billion) in three Indian companies -- Indiamart.com, One97 Communications and Global Talent Track. However, figures were not disclosed. The funding will come from the $250 million Intel Capital India technology fund. The fund invests in Indian technology companies to help stimulate local technology innovation.
The US government is examining the possible role of Goldman Sachs and well-known investment banker Rajat Gupta in the Galleon hedge fund insider trading scam, says a media report.
Several depositors were duped in the Rs 460.91-crore alleged fraud engineered by Shivraj Puri, a Global Wealth Manager of the bank working at its branch in Gurgaon.
A SFIO probe into Saradha scam and 'chit fund' operations of 62 other entities has found serious financial mismanagement and siphoning off the funds by their promoters, who took advantage of regulatory gaps.
Within six months, outlets carrying Vicks jumped from 60,000 pharmacies to 750,000 general stores. The trade boycott collapsed. Consumers were happy, finding Vicks now at every street corner. A fascinating excerpt from Gurcharan Das's Another Sort of Freedom.
Congress general secretary (communications) Jairam Ramesh said they will pose three questions a day to Prime Minister Narendra Modi over the issue.
About 17 lakh investors, mostly in West Bengal, who have lost crores of rupees in the Saradha chit fund scam are fast losing hope. The scandal continues to roil West Bengal political circles with several ruling Trinamool Congress leaders being implicated and some arrested. Even West Bengal Chief Minister Mamata Banerjee's name has been dragged into the sordid mess. Indrani Roy presents a FAQ on what the scam is about and the main players behind it.
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
Several professors of Jawaharlal Nehru University and other institutions have accused a former JNU employee of duping them of crores of rupees promising them homes on a Delhi Development Authority (DDA) plot under a housing development scheme which was never there.
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