A 57-year-old man who works as deputy general manager in a private company at Bandra-Kurla Complex (BKC) recently fell prey to the gift card fraud. The victim had received a WhatsApp communication from a person impersonating as the Chief Executive Officer (CEO) of the victim's company. The victim sent 10 codes worth ₹5000 each and later learnt that he had been duped by an imposter.
Courtesy: The Free Press Journal
The Enforcement Directorate (ED) conducted raids at Karuvannur Co-operative Bank in Kerala's, on August 10. ED also conducted raids at the residences in Thrissur, belonging to four accused involved in the case. Reportedly, about Rs 104 crore fraud has been reported in the Karuvannur Co-operative Bank. Further details on the matter is awaited, and ED probe is underway.
Rave Scans Pvt Ltd, a Delhi-based packaging company has been booked by the CBI for allegedly defrauding a consortium of banks amounting to Rs 69.33 crore. CBI conducted searches in the company's premises. According to a written complaint filed by Chief Regional Manager of Indian Overseas Bank, New Delhi, the company borrowed loans during 2011-2016, with an intention to cheat the banks.
BJP leader Manoj Kamboj has been booked in a fraud case by Mumbai police, following a complaint field by the manager of Indian Overseas Bank. According to the complaint, the manager alleged that Manoj and two other directors of a company borrowed a loan of Rs 52 crore, and not used it for its intended purpose. The case has been filed under IPC sections 409 and 420.
In charges of bank fraud, the Mumbai police have issued notice to the BJP leader Pravin Darekar, asking him to appear for questioning on April 4. The Aam Aadmi Party (AAP) leader Dhananjay Shinde filed a case against Darekar, alleging him of forging certain documents to become a member of the Pratigya Labour Cooperative Society. As of now, Darekar who is booked for conspiracy and cheating has protection from arrest.
Courtesy: The Free Press Journal
Six employees of a regional office in Mumbai's Kandivali were charged with defrauding the EPFO (Employees' Provident Fund Organization) for Rs 21 crore using the dormant provident fund accounts. The EPFO Mumbai office after auditing the incident has decided to survey and examine all the PF transactions at all field offices across India. All six people involved have been suspended. Meanwhile, a CBI inquiry is underway.
Courtesy: Business Today
The promoter of the Ambience group, Raj Singh Gehlot was arrested by the Enforcement Directorate (ED) on July 29 on charges owing to bank loan fraud of Rs 800 crores. Reportedly, he will probably be presented before the court as he is booked under the Prevention of Money Laundering Act (PMLA). The probe found that the money was “sanctioned by a consortium of banks for the hotel project, was siphoned off by AHPL."
Courtesy: The Economic Times
In a stringent move, the Central Bureau of Investigation (CBI) has booked some of its officials for allegedly taking regular bribe from companies accused in bank fraud. Moreover, the investigating agency is conducting raids against its officers at five locations in the above-mentioned corruption case. An anonymous official said that the officers were misusing their position and receiving payments from the accused companies that were probed by… read-more
Courtesy: The Print
After receiving a complaint from Canara Bank, CBI has booked three members of the Unitech Group for an alleged fund embezzlement. The Unitech Group members - MD Sanjay Chandra, his father Ramesh Chandra and brother Ajay Chandra - are accused of cheating the bank of Rs 198 crore. The FIR read that the company was granted credit on properties, which were sold without informing the bank. However, Sanjay has been granted interim bail.
Courtesy: The Times of India
To intensify measures against financial frauds, Karnataka government is planning to setup a system to freeze accounts of the fraudsters within the first hour of the transaction. The police plan to establish a process, wherein the victims can report the fraud through a call/message that will, in-turn, generate a unique number similar to an FIR number. Based on this, banks can immediately freeze the accounts of fraudsters.
Courtesy: Deccan Herald