Tag: ponzi scheme

ED files case against Bengaluru firm for Ponzi scheme

Though police filed the case on June 11 under sections 406 and 420 of the Indian Penal Code (IPC), a Special Investigation Team (SIT) is probing scam as directed by the state government.

June 15, 2019

Karnataka’s mining baron Reddy arrested in Ponzi case

His arrest comes a day after he (Reddy) drove to the CCB office on Saturday evening in response to its summons in the Ponzi case.

November 11, 2018

Enforcement Directorate finds Bengaluru firm running potential Ponzi scheme

Since inception on December 20, 2016, the company received cumulatively Rs 954 crore as investments under Haj/Umrah and Ultimate plans.

November 8, 2018

Indian-origin man in US charged with $250,000 fraud via Ponzi scheme

Niket Shah of New Jersey was charged by the Securities and Exchange Commission (SEC) , which also ordered a preliminary injunction and asset freeze against him.

March 25, 2018

Thailand sends fraudster to 13,275 years jail for Ponzi scheme

A Thai court has sentenced a fraudster to a total of 13,275 years in prison, a media report said. Pudit Kittithradilok, 34, admitted to the court on Friday of running a Ponzi scheme whereby he promised investors artificially high financial returns, reports the BBC. About 40,000 people were persuaded to pour more than $160 million …

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December 30, 2017