Courtesy: DNA India, 15 June 2015 – Ponzi schemes are one of the biggest types of economic frauds targeting unsuspecting investors. As per figures available, Ponzi schemes have led to default of over Rs 80,000 crore, affecting over six crore people. Lack of awareness among investors is a big factor responsible for the widespread prevalence… Continue Reading »
Courtesy: TOI, Jun 3, 2015 – Leena Maria Paul and live-in partner Sekar Chandrashekhar had previously duped Canara Bank in Chennai of Rs 19 crore. The Economic Offences Wing (EOW) of the Mumbai police have arrested south Indian ac tor Leena Maria Paul, her partner Sekar Chandrashekhar and four others four allegedly cheating people by promising them… Continue Reading »
NEW DELHI: The Supreme Court on Monday said it was actively supervising the CBI probe into 243 cases relating to chit fund scams in West Bengal, Odisha, Assam and Tripura while declining to monitor investigations into cases in Odisha. However, the court said it would not dilute the focus of the investigation by permitting the CBI… Continue Reading »
Courtesy: MoneyLife, 14 Oct 2014 The Bangalore Police are investigating Adooye.com, which was selling a ‘package’ that promised money for watching online advertisements and enrolling new members, in a classic money circulation scheme. The MLM, which reportedly collected over Rs600 crore has quietly shut shop and left over two lakh registered customers in the lurch… Continue Reading »
New Delhi: Expecting the government’s efforts to expand financial inclusion to help curb the ponzi menace in the country, Securities and Exchange Board of India (Sebi) Chairman U K Sinha has said that agents, lured by 20-30 per cent commissions, have been pushing illicit schemes among gullible investors in the absence of good savings products…. Continue Reading »
Courtesy: CNBC Awaaz TV – 16 Nov 2013 Mr.BC CHHABRA, PROJECT DIRECTOR OF BIG BAZAAR DIRECT WITH FUTURE GROUP CEO KISHORE BIYANI AT CNBC AWAAZ TV.
Another ponzi scam in West Bengal; MPS goes bust, depositors lose their savings Kolkata: Investigations into the Saradha scam are yet to get over but West Bengal is already hit by another wave of Ponzi scams. While some of these scams like Rose Valley are much bigger in scale compared to Saradha, others like the MPS… Continue Reading »