Tag: Fraud

Indian Americans plead guilty in commodities fraud, spoofing conspiracy

Krishna Mohan, 33, of New York, pleaded guilty today to one count while Kamaldeep Gandhi, 36, of Chicago, to two counts of conspiracy to engage in wire fraud, commodities fraud and spoofing, they said.

November 7, 2018

UK-based man dupes Thane women of Rs 7 lakh via courier firm

The complainant told the police that while going through the matrimonial site some months back, she befriended the accused, identified as Donald William (23), who claimed to be from Belgravia in London.

October 10, 2018

Over 20 Indian-origin people sentenced in mega US call centre scam

Earlier, three other Indians were sentenced for their involvement in the same fraud and money laundering scheme.

July 21, 2018

Vijay Mallya faces fresh money laundering charge sheet, fugitive tag

CBI will immediately seek from a court, permission to “confiscate” more than Rs 9,000 crore worth assets.

June 17, 2018

Former Volkswagen CEO charged with fraud in ‘dieselgate’

The US government on Thursday filed charges against the former executive of Volkswagen (VW), Martin Winterkorn, who resigned in 2015 after the Volkswagen emissions scandal, also known as “dieselgate” erupted in September of that year. In an indictment unsealed on Thursday by the US Department of Justice in a Michigan federal court, Winterkorn, 70, was …

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May 4, 2018

Indian-American doctor indicted for $1 mn healthcare payment fraud

Dr Pranav Patel, 51, of Chicago suburb Burr Ridge allegedly submitted false insurance claims for medical tests that were never performed.

April 29, 2018

Canara bank fraud case: Tollywood connection likely

The CBI probing the enduse of Rs 515.15 crore siphoned off from Canara bank allegedly by directors of RP Infosystems Shivaji Panja and Kaustav Ray arrested in connection with the bank fraud, has reportedly found Tollywood connection in alleged embezzlement, a reliable source in the CBI said. A source in the agency said one of …

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March 18, 2018

Fraudster held for swindling several unemployed youths in Rourkela

The Bondhamunda police have arrested a fraudster who had swindled several unemployed youths. The arrested person had collected money from them saying that he would provide them jobs in National Institute of Technology, Rourkela. Anil Nayak, 25, a resident of a slum just behind the Ispat Hospital Colony, Sector- 19, was today arrested by Bondhamunda …

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February 28, 2018

PNB ‘destroyed’ my brand, can’t repay debt, says Nirav Modi

Breaking his silence over the Rs.11,000 crore PNB fraud, defiant key accused Nirav Modi has slammed the bank for going public and “destroying” his brand while expressing his inability to repay the debt. In a letter written to Punjab National Bank’s (PNB) management on February 15-16, Modi blamed PNB’s overzealousness for shutting the doors on …

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February 20, 2018

PNB fraud fallout: CBI seals Brady House Branch in Mumbai

The CBI on Monday sealed the Brady House Branch of the Punjab National Bank as multiple probe agencies continued with their probe into the Rs 11,515 crore fraud, according to officials. The Central Bureau of Investigation pasted an official notice outside the branch in Fort — the bank’s flagship lending window in Mumbai and its …

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February 19, 2018

Ex-Trump adviser to plead guilty to fraud-related charges

US President Donald Trump’s former campaign adviser Rick Gates to fraud-related charges within days and has also agreed to testify against Paul Manafort, the lawyer-lobbyist who once managed the campaign, the media reported. “Rick Gates is going to change his plea to guilty,” an informed official told the daily on Sunday. A revised plea will …

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February 19, 2018

PNB fraud: This is just the tip of the iceberg, says Mamata

West Bengal Chief Minister Mamata Banerjee on Sunday demanded a thorough probe into the Punjab National Bank (PNB) fraud, saying that this is “just the tip of the iceberg”. Claiming that the over Rs. 11,000 crore PNB scam involving billionaire jewellery designer Nirav Modi was only a fraction of a mammoth fraud on the Indian …

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February 18, 2018

Gurugram trader booked for `50 crore GST fraud

Haryana excise and taxation department on Saturday lodged a first information report (FIR) against a trader in Gurugram for fraudulently trying to claim input tax credit of over Rs 50 Crore under the Goods and Services Tax (GST). The excise and taxation minister, Abhimanyu said the department lodged an FIR at Police Station Sardar, Gurugram …

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February 17, 2018

PNB fraud case: Union Bank has $300 mn outstanding exposure

State-run Union Bank of India on Thursday said that it has an outstanding exposure of about $300 million in the $1.8 billion fraud detected by Punjab National Bank (PNB) and the former was also confident of receiving the payment. PNB, the second largest public sector bank in India, had detected the $1.8 billion fraud in …

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February 16, 2018

Ruckus in Kerala Assembly over CPI-M state secretary’s son

Chaos reigned in the Kerala Assembly on Tuesday, marked by noisy scenes and cat calls as the treasury and opposition benches clashed over the issue of Kerala CPI-M state secretary Kodiyeri Balakrishnan’s elder son Binoy Balakrishnan, who is caught in fraud allegations involving a Dubai firm. Speaker P. Sreeramakrishnan put up a request not to …

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February 6, 2018

Swedish court clears man of fraud because he was in love

Yes, you read that right. Undoubtedly, love can conquer all. Recently, a man was reportedly cleared of the fraud charges just because he was found to be in love. A Swedish court, Helsingborg District Court cleared the lovestruck man of all charges of fraud and attempted gross fraud because he wanted to impress a new …

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February 2, 2018

JP Morgan CEO regrets calling bitcoin ‘fraud’

JP Morgan Chase CEO Jamie Dimon has softened his stance on bitcoin and regretted calling the digital currency a fraud. In an interview with Fox Business on Tuesday, Dimon said he regretted making his earlier comments on the cryptocurrency. The head of the biggest US bank called bitcoin “a fraud” in September 2017 and said …

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January 10, 2018