Fraud Arrest

Photo: Times Now

3 Detained In Connection With 'Crypto Currency Fraud': Bengaluru

Bengaluru's Central Crime Branch police detained three individuals for reportedly conducting a Ponzi scam by persuading others to invest in crypto currency. Raghavendra, Nagaraju, and Shivamurthy, all of HSR Layout, have been recognised as the accused. They devised a chain-link concept in which company members may recruit others to join the platform in exchange for a commission.“The accused ran a firm named FOMOEX in Yelahanka," a police… read-more

Mon, 08 Nov 2021 - 11:17 AM / by Vidhi Jhunjhunwala

Tags: Bangalore, arrest, Cryptocurrency, Yelahanka, Ponzi scam

Courtesy: The Indian Express

Bernie Madoff died at 82 in a prison at Butner, North Carolina

Photo: AP News

US's Biggest Investment Scam Convict Passes Away At Federal Prison

The US's largest Ponzi scheme convict Bernie Madoff passed away on April 14 at federal prison's medical facility in Butner, North Carolina. The 82-year-old had a natural death, a year after the court denied his lawyer's request to release him considering medical reasons. Nonetheless, he pleaded guilty of running an investment scam in March 2009. Reportedly, around $13 billion of his investors have been recovered out of $17.5 billion.

Thu, 15 Apr 2021 - 06:20 PM / by Neha Sanjeev

Tags: Ponzi scam, Ponzi scheme, Finance, Investments

Courtesy: Money control

KD Singh

Photo: The Economic Times

Former TMC MP KD Singh Detained By ED Over Ponzi Scam

The Enforcement Directorate (ED) on January 13 arrested former Trinamool Congress Rajya Sabha MP KD Singh for his alleged involvement in a ₹1,900 crore Ponzi scam. Singh is the founder and current Chairman Emeritus of the Alchemist group. The ED had begun probing into the Alchemist Group money laundering case in 2016. As per reports, the recent arrest was made under Prevention of Money Laundering Act, 2002.

Wed, 13 Jan 2021 - 03:53 PM / by Ashly Ann Varghese

Tags: TMC, Rajyasabha, Enforcement Directorate, Ponzi scam

Courtesy: NDTV