Topic result for ponzi-scam

A state financial official said that from Sunday afternoon till late night, the sleuths of the DEO conducted a marathon raid and search operations at the residence of a Kolkata- based businessman, Amarnath Shroff at Harish Mukherjee Road in south Kolkata.

Prince Kumar, a resident of Muzaffarpur in Bihar, has been accused of forging documents and misappropriating Rs 1.5 crore from investors in Odisha.

New Delhi:  The CBI has filed a supplementary charge sheet against Green India group in Bhubaneswar for allegedly duping people of over Rs 69 crore through a ponzi scheme, officials said here Wednesday. In the charge sheet filed before Bhubaneswar special court, the CBI has charged private individuals Pradeep Kumar Singh, Jitendra Kumar Mishra and […]

New Delhi: The CBI has charged the Odisha Cricket Association and its former honorary secretary Asirbad Behera in connection with a probe into ponzi scam involving the Artha Tatwa (AT) group, officials said on Thursday. The agency has filed its supplementary charge sheet before a special CBI court against three private persons including Behera, Kamalakanta […]

New Delhi: Seeking to curb the menace of ponzi schemes, the Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday gave its approval to the Banning of Unregulated Deposit Schemes Bill, 2019. The proposed law would address the issue of illicit deposit-taking activities, as it provides for strict action against such activities. “The Bill […]

New Delhi: The Enforcement Directorate (ED) has issued a provisional order for attachment of properties worth Rs 472 crore belonging to Nirmal Singh Bhangoo in Australia in Rs 45,000 crore PACL ponzi scam, an official said on Monday. The properties attached under Prevention of Money Laundering Act (PMLA) include MiiResorts Group 1 Pty Ltd and […]

Bhubaneswar: Seashore Group CMD Prashant Das, who was arrested in connection with the multi-crore chit fund scam in the state, was released from the Jharpara circle jail after getting bail in eight cases. Sources said Das, the main accused in the Seashore chit fund scam, was granted bail in cases registered against him by the […]

Bhubaneswar: Odisha government has directed superintendents of police and collectors of the districts to keep strict vigil on the activities of ponzi firms. A toll-free number 1800-345-7154 has also been set up at the Reserve Bank of India, Bhubaneswar, where people can call to complaint over unauthorised collection of money across the state. “The SPs […]

Bhubaneswar: Taking a jibe at the Naveen Patnaik-led BJD government in Odisha over the chit fund scam, senior BJP leader and Union HRD Minister Prakash Javadekar said that the State government is embroiled in corruption and has encouraged ponzi firms in the state. Briefing mediapersons at the party state headquarters, Javadekar said around 50 MLAs […]

Bhubaneswar: The Justice MM Das Commission, probing the multi-crore chit fund scam in the state, has today submitted its third interim report to the government. In its report, the Commission has stated that a total of 41519 small depositors have been identified after a thorough probe into the complaints filed against 176 companies. Meanwhile, the […]

Bhubaneswar: The CBI Joint Director AYV Krishna reached Bhubaneswar today to review investigation into various cases, including the chit fund scam and those being investigated by the probe agency. During his two-day visit to the capital city, Krishna will have discussion with the officials of the central investigating agency. Besides reviewing the progress of investigation […]

Bhubaneswar: While the investigation into the multi-crore chit fund scam is still on, the chairman of multi-state credit cooperative society Swastik India Ranjan Das was allegedly attacked in Jharpada jail in the Capital city. In a letter to ADG (Prison), wife of Dash, Monalisha accused one Biranchi Nayak of Jatni of extorting inmates in the jail. […]

Bhubaneswar: The Special CBI court today granted the Central Bureau of Investigation (CBI) to take Green Ray International director Mir Shahiruddin on a six-day remand for interrogation in connection with a ponzi scam in Odisha as well as outside the State. After Shahiruddin was produced before the special court in Bhubaneswar by the CBI, he […]

Cuttack: The special chit fund court set up to conduct hearing on the multi-crore ponzi scam in Odisha, made its first conviction today. The court convicted chit fund company Shirdi Sai Real Estate’s MD, Prakash Panda. Panda has been sentenced to a jail term of 5 years along with a fine of Rs 3 lakh. […]