BANK FRAUD

  • One arrested in Mumbai's Rs 1 crore ebanking fraud February 3, 2013

    Mumbai: One accused was arrested on Saturday and a hunt launched for 11 others in connection with a Rs 1 crore illegal transfer from a businessman's bank account in Mumbai, police said. "We have arrested one person in this connection and are on the lookout for another 11 who are suspected...
  • The top banking frauds of all time December 29, 2010

    New Delhi: The bank fraud at Citibank's Gurgaon branch has shocked consumers. The Reserve Bank of India warned banks earlier this year about an increase in bank frauds, especially in private banks. We take a look at some of the top banking frauds of all time. 1. Jerome Kerviel Jerome Kerviel...
  • Govt probes Chatwal case, Padma award on the line February 6, 2010

    New Delhi: Controversial NRI hotelier Sant Singh Chatwal could lose his Padma Bhushan with Home Ministry probing allegations of corruption against him. Home Ministry sources say that Chatwal's award may be withdrawn if the fresh charges of fraud levelled against him are found to be true. Home Ministry sources though added that...
  • Rewarded with row: Padma Bhushan controversy January 28, 2010

    High profile NRI hotelier Sant Singh Chatwal, who was once chargesheeted by the CBI in an bank fraud case and was later absolved, has been awarded with the Padma Bhushan this year. Does he deserve his award? ...
  • Controversy over NRI Chatwal's name in Padma list January 26, 2010

    New Delhi: The inclusion of USbased Indian hotelier Sant Singh Chatwal in the list of Padma awardees is generating a lot of heat and controversy. Deputy Leader of Opposition Gopinath Munde has written to Prime Minister Manmohan Singh asking why Chatwal was being given one of Indias highest civilian honours. The outrage...
  • UK: 3 NRIs get 25 years in jail for swindling $ 700 mn June 7, 2008

    London: Three NRI Indian businessmen in the UK were on Friday sentenced to 25 years of jail, after they were found guilty swindling banks in Britain and the US of over $700 million. Virendra Rastogi, along with his two accomplices Anand Jain and Gautam Majumdar was sentenced after six...
  • Indianorigin bank staff held for 50mn scam plot May 2, 2008

    London: The London police have arrested and charged an Indianorigin employee of HSBC bank in London for an attempted fraud worth nearly 70 million pounds. The attempt by 25yearold Jagmeet Channa was discovered last week at HSBC's securities services division, which settles trades for clients. A payment to a...
  • World's worst banking conman siphons off $7 bn January 28, 2008

    New Delhi: The French Bank, Societe Generale has formally disclosed the identity of a trader who is being called the worst fraudster in banking history. Thirtyoneyearold Jerome Kerviel stands accused of costing Societe Generale, France's second largest bank over $7 billion. On Sunday, bank officials revealed how he hacked computers...
  • India's ultimate conman behind bars after 13 yrs August 28, 2007

    New Delhi: You can't escape the long arm of the law, even if you swallow a knife! Fraudster Amarendra Nath Ghosh learnt it the hard way. Ghosh was the ultimate conman in India's history of frauds till the law caught up with him. He was presented before the court of...
  • Banking frauds see 77 pc jump November 16, 2006

    Mumbai: Banking frauds are not only increasing in number but also getting larger by the day. The trend and progress report 200506 by the Reserve Bank of India states the amount involved in banking frauds have increased by as much as 77 per cent to Rs 1,381 crore from Rs...