Kolkata: One of the directors of the 'chit fund' company Saradha Group was on Saturday arrested while its Chairman and Managing Director Sudipto Sen was still at large. "We have arrested Manoj Kumar Nagel who is one of the directors of the company from Bidhannagar. We are also looking out for their chairman Sudipta Sen by keeping a vigil at airport and other places," a senior police official at Bidhannagar...
08:35 AM, Apr 21, 2013
Patiala: A CBI special court in Patiala on Saturday awarded seven-year rigorous imprisonment to Akali Dal leader Mangat Rai Bansal in an embezzlement case related with the Food Corporation of India (FCI). Twenty-two other convicts were also sent to jail. Central Bureau of Investigation (CBI) special judge Hemant Gopal sent the ruling party leader Bansal, 54, to jail for a fraud involving Rs.1.8 crore in the 1990s. Besides Bansal, the...
05:15 AM, Apr 21, 2013
A worker of the Students Federation of India (SFI) died on Tuesday of injuries sustained during clashes with police. ...
09:21 PM, Apr 02, 2013
In this season of scams, a new one has been unearthed, this time in West Bengal and a senior state government leader is said to be allegedly involved. ...
07:50 PM, Apr 02, 2013
In this season of scams, a new one has been unearthed, this time in West Bengal and a senior state government leader is said to be allegedly involved. According to a CBI probe, Rs 200 crore, meant for fixed deposits, were siphoned off from four state government departments into hundreds of fictitious accounts. The CBI probe points to the involvement of a senior Trinamool Congress politician. ...
06:51 PM, Apr 02, 2013
Fraudsters have managed to steal customer database from ICICI Prudential causing a "loss" of over Rs 90 lakh to the insurance major after some policy holders either surrendered or discontinued policies believing the cheats. Delhi Police's Economic Offences Wing have launched a probe into it following the registration of a case under sections of the IPC and Information Technology Act last week on a complaint filed by ICICI Prudential on...
10:21 AM, Mar 31, 2013
Two top officials of an online shopping portal have been arrested in New Delhi for allegedly duping people by taking money from them for articles which were never delivered, police said on Saturday. Arindam Bose (47), an electronics engineer, and Harish Ahluwalia (35), Director and Chief Operations Officer respectively of on-line shopping portal timtara.com, were apprehended following investigations into over 200 complaints from victims claiming that they had paid money...
01:50 AM, Mar 31, 2013
An Indian-American along with two others from Alabama have been sentenced for their roles in an identity theft and tax fraud scheme, the US Justice Department has said. While Indian-American Narendra Kumar Patel was sentenced to 24 months in prison, the two other co-conspirators Mary Bennett and Eugenia Burks have been sentenced to 75 and 18 months respectively. ...
12:14 PM, Mar 29, 2013
A 48-year-old stockbroker was arrested for cheating a former chairman of Coal India Limited (CIL) of his life savings of Rs.5 crore through illegal transfer of his shares, the police said on Saturday. ...
01:55 AM, Mar 17, 2013
Two days after an engineer was found dead in a Noida stadium under mysterious circumstances, the police are still clueless as to whether it was a suicide or murder. Engineers India Limited employee, Shashank Yadav, 28, was found dead in a Noida stadium restroom 2 days ago. ...
11:07 AM, Mar 16, 2013
Two months after an accountant ran away with his employer's money, the police arrested him by laying a trap on social networking site Facebook. According to police, Vijay Choudhary, who worked in an electronic shop at Kalba Devi in south Mumbai, had run away with Rs 20,000 that his employer had asked him to deposit in a bank in December 2012. ...
01:03 PM, Feb 11, 2013
Eighteen people have been charged in what may be one of the nation's largest credit card fraud rings, a sprawling international scam that duped credit rating agencies and used thousands of fake identities to steal at least $200 million, federal authorities said on Tuesday. The elaborate scheme involved improving fake cardholders' credit scores, allowing the scammers to borrow more money that they never repaid, investigators said. ...
02:40 PM, Feb 06, 2013
Eighteen people have been charged in what may be one of the largest US credit card fraud rings, a sprawling international scam that duped credit rating agencies and used thousands of fake identities to steal at least $200 million, federal authorities said on Tuesday. ...
10:56 AM, Feb 06, 2013
An Indian-American pharmacist has been sentenced to 17 years in prison by a US court for a major healthcare fraud worth USD 57 million. Babubhai (Bob) Patel, 50, who owned and operated 26 pharmacies across metro Detroit, was sentenced in Michigan court, five months after a jury convicted him of billing the government for more than USD 57 million for painkillers that were medically unnecessary or never provided. ...
02:30 PM, Feb 03, 2013
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. ...
10:49 AM, Feb 03, 2013
An Indian-origin investment adviser from California has pleaded guilty to defrauding investors of more than $ 2.3 million, and now faces the prospect of 20 years in jail along with a hefty fine. Janamjot Singh Sodhi, 35 pleaded guilty to four counts of mail fraud and one count of wire fraud and is scheduled to be sentenced on April 29, when he faces a maximum 20 years in prison and...
05:11 PM, Jan 26, 2013
A Hindu leader from India, who had established a temple in Milwaukee city of the US state of Wisconsin, has been jailed for 37 months for religious visa fraud and would be deported to his native country after serving his sentence. A Milwaukee court gave its sentencing order after it found Sagarsen Haldar, aka Gopal Hari Das, who is the founder, president, CEO and spiritual leader of Gaudiya Vaisnava Society...
11:26 AM, Jan 25, 2013
Lawmakers are making public emails that show that Wal-Mart Stores Inc's cheif executive officer found out in 2005 that the retailer was handing out bribes in Mexico. Democratic Congressmen Elijah E Cummings and Henry A Waxman, who are investigating bribery charges at Wal-Mart's Mexico division, on Friday released emails that indicate that Mike Duke and other senior Wal-Mart officials were informed multiple times starting in 2005 about bribes being made...
07:20 AM, Jan 11, 2013
US hedge fund manager Raj Rajaratnam has agreed to pay disgorgement of about $1.5 million in a civil lawsuit filed by the Securities and Exchange Commission, and to waive his right to appeal the judgment, court papers showed. Rajaratnam would make the payment, representing the profits obtained by unlawful means, to the SEC within 90 days after the entry of the final judgment in court records, according to a filing....
12:57 PM, Dec 27, 2012
Zurich: Swiss bank UBS swallowed a $1.5 billion fine and admitted to fraud on Wednesday after a global probe revealed its staff orchestrated the manipulation of benchmark interest rates over three continents. UBS traders colluded with brokers to rig the Libor rate, which is used to price trillions of dollars worth of loans worldwide, rewarding them for their help. They also teamed up with traders at other banks. The penalty...
05:55 PM, Dec 19, 2012
