An Indian-origin woman has been sentenced to 20 years in prison and ordered to pay a penalty of over $14 million on charges of healthcare fraud. ...
11:28 AM, Dec 11, 2012
Three persons have been arrested for allegedly duping hundreds of investors of over Rs 50 crore in Delhi and Mumbai on the pretext of providing them call centre franchise, police said on Friday. Sandeep Shukla, a resident of Azamgarh district of Uttar Pradesh, his brother Manoj Shukla and friend Surendra Batho were arrested following a complaint by a woman who had invested around Rs 20 lakh in their companies for...
09:05 PM, Dec 07, 2012
A woman has been arrested for posing as a British national and allegedly cheating one Andhra Pradesh-based businessman of Rs 10 lakh, police said on Friday. Theresa Jovita D'Souza alias Rhea Jannet Mallon, 39, a resident of Goa, was arrested by the Economic Offence Wing officials on Wednesday last when she came to collect Rs 1.20 lakh from near a hotel in Paharganj on the complaint of Kurnool-based businessman P...
10:36 PM, Nov 30, 2012
The Economic Offences Wing (EOW) of the Delhi Police, which is investigating into the multi-crore Stock Guru scam, has recovered assets worth Rs 20 crore after conducting raids in Mumbai and Ratnagiri. ...
04:55 PM, Nov 27, 2012
New Delhi: Another Stock Guru-like scam has been unearthed which exploited the devout. Around 15,000 investors from the Christian community were duped in an investment scheme that promised a tour to Israel for six days, investment for a divine tower, schools and hospitals for the poor. The scheme was a perfect narrative to lure investors in the name of religion. Many from the Christian community like Clement D'Souza fell for...
07:39 AM, Nov 24, 2012
As many as 15,000 investors from the Christian community were duped in an investment scheme promising Israel tour. ...
08:04 PM, Nov 23, 2012
New York: Hewlett-Packard Co stunned Wall Street by alleging a massive accounting scandal at its British software unit Autonomy and taking an $8.8 billion writedown, the latest in a string of reversals that renewed questions about the competence of the storied company's board and senior managers. HP said on Tuesday it discovered "serious accounting improprieties" and "a willful effort by Autonomy to mislead shareholders," after a whistleblower came forward following...
01:05 PM, Nov 21, 2012
New York: An Indian-origin physician in New York has been indicted on charges of perpetrating a $12 million healthcare fraud scheme and faces up to 30 years in prison if convicted. Utica-based physician Dilip Kachare, 58, has pleaded not guilty to the charges and was released on his own recognizance after being directed to surrender his passport to US authorities. US Attorney for the Northern District of New York Richard...
11:16 PM, Nov 20, 2012
Washington: An Indian-American professor at Morgan State University has been indicted by a federal grand jury in an alleged scheme to defraud the National Science Foundation of hundreds of thousands of dollars in grant funding. Manoj Kumar Jha, 45, who oversees the university's transportation engineering graduate programme allegedly fabricated an elaborate research proposal on behalf of a private company he founded and then applied for funding through the NSF's Small...
11:28 AM, Nov 17, 2012
New Delhi: The investigation into the Rs 500-crore Stock Guru scam is spreading. The Enforcement Directorate and the Serious Fraud Investigation Office are also likely join the probe. The role of some SEBI officials will ALSO be looked into for ignoring repeated warning. An Economic Offences Wing team from Mumbai will also visit Delhi to gather more information. A couple has been arrested for allegedly duping around two lakh investors...
07:28 AM, Nov 14, 2012
A couple was on Tuesday arrested for allegedly duping around two lakh investors from seven states of nearly Rs 500 crore by promising them high returns on their investment through their firm dealing in stock market. ...
11:28 PM, Nov 13, 2012
New Delhi: A Rs 500 crore scam that left over 10,000 investors duped across seven states - the Delhi Police is now planning to approach the Enforcement Directorate and the Serious Fraud Investigation Office (SFIO) to get to the bottom of it. However, people who invested in the firm claim that they were taken in by the promise of quick returns. After being duped, the investors formed a group on...
07:24 PM, Nov 13, 2012
Ratnagiri: A couple has been arrested for allegedly duping around two lakh investors from seven states of nearly Rs 500 crore by promising them high returns on their investment through their firm dealing in stock market, police said today. "After a hunt of one year, Ulhas Prabhakar Khaire, 33, a resident of Nagpur, and his 30-year-old wife Raksha J Urs were arrested from Maharashtra's Ratnagiri town on Saturday by the...
07:07 PM, Nov 13, 2012
Police sources say the Enforcement Directorate and the Serious Fraud Investigation office may join the probe. ...
01:26 PM, Nov 13, 2012
New Delhi: A couple running an investment firm has been arrested in Delhi in a multi-crore scam. Police are investigating over 10,000 complaints filed by investors who were duped across seven states. Ulhas Prabhakar Khaire is in the custody of the cops. He and his wife Raksha have been nabbed for allegedly defrauding investors in their company Stock Guru to the tune of Rs 500 crore. Investors from as far...
07:14 AM, Nov 13, 2012
New Delhi: A couple has been arrested for allegedly duping around two lakh investors from seven states of nearly Rs 500 crore by promising them high returns on their investment through their firm dealing in stock market, police said on Monday. "After a hunt of one year, Ulhas Prabhakar Khaire, 33, a resident of Nagpur, and his 30-year-old wife Raksha J Urs were arrested from Maharashtra's Ratnagiri town on Saturday...
07:05 PM, Nov 12, 2012
New Delhi: The government has decided to crack the whip on fraudulent multi-level marketing companies that have duped hundreds of investors in the country by blocking their websites and tracking their online transactions. Corporate Affairs Ministry, the nodal department in this regard, has decided that its investigative arm - Serious Fraud Investigation Office (SFIO) - will coordinate with Department of Information Technology and Central Economic Intelligence Bureau (CEIB) to identify...
06:03 PM, Nov 07, 2012
Milan: An Italian court on Friday sentenced former prime minister Silvio Berlusconi to four years in jail for tax fraud in connection with the purchase of broadcasting rights by his Mediaset television company. Berlusconi has the right to appeal the ruling two more times before the sentence becomes definitive and will not be jailed unless the final appeal is upheld. Prosecutors had asked for a jail sentence of three years...
08:44 PM, Oct 26, 2012
Washington: Several online fraud schemes, mainly operating from India, that duped people in countries like the US, UK and Canada into paying to clean their computers of bogus virus infections, have been shut down by US authorities in a crackdown on so-called tech support scams. At the request of the Federal Trade Commission (FTC), a US District Court Judge ordered a halt to six alleged tech support scams pending further...
05:28 PM, Oct 04, 2012
After the success of 'Grandmaster', Director B Unnikrishnan is again joining Superstar Mohanlal. Their new movie together will be titled as 'Fraud'. A thriller, the movie will have Lal in many negative shades. The shoot for the movie will be held at many exotic locales including Russia. A big budget affair, B Unnikrishnan will be on the movie production by the early months of 2013. Meanwhile, the director has already...
05:24 PM, Sep 23, 2012
