INVESTMENT FRAUD

  • No relief for Subrata Roy from SC, next hearing on March 25 March 13, 2014

    New Delhi: In another setback for Sahara chief Subrata Roy, the Supreme Court on Thursday again deferred hearing on his contempt case saying it will only hear Sahara's plea against his detention when the company gives a proposal to refund the crores it owes to its investors. The hearing has been...
  • Odisha: Investors duped of nearly Rs 20,000 cr May 1, 2013

    Bhubaneswar: A scam as big as the chit fund fraud in West Bengal has been exposed, but this time it is in Odisha. A CNNIBN exclusive shows how fraudulent investment companies are duping investors in the state. Investors have been swindled off nearly Rs 20,000 crore by 40 finance companies...
  • WB chit fund scam hits the state's film industry April 29, 2013

    Kolkata: The West Bengal chit fund is getting bigger each day. It has now turns out that ponzi schemes in the state financed not just media houses but Tollywood films as well. In the past four years, at least one in three films has been produced by groups that run...
  • How a Saradha receptionist became executive director in 3 years April 27, 2013

    Kolkata: Debjani Mukherjee, who went from being a receptionist in the Saradha group to becoming an executive director, has now been arrested for defrauding investors. Her story is a fairy tale that ended badly. Debjani Mukherjee is known as 'Madam' by the employees of the Saradha group. She is a...
  • WB, NE a hotbed of investment frauds: probe April 26, 2013

    New Delhi: Amid a raging controversy over alleged cheating of gullible investors by Saradha group, the regulators have found that West Bengal and Northeastern states have become a hotbed of such frauds and NRIs from these regions account for a large chunk of defrauded people. While the Centre has announced...
  • Billionaire cricket promoter on sticky wicket June 19, 2009

    Boston: Allen Stanford, the once highflying Texas billionaire with a Caribbean knighthood and a penchant for publicity and cricket, has been brought down to earth with a thud after surrendering to the FBI. The founder and chairman of Stanford Group once credited his grandfather with giving him "the inspiration to dream"...
  • NRI gets 10year jail for $12.5 mn fraud May 14, 2009

    Washington: An IndianAmerican investment adviser has been sentenced to 10 years in prison following his conviction on 20 counts of fraud with a scheme that bilked 15 investors of $12.5 million. Amit Mathur, 38, of Shrewsbury, Massachusetts, was also ordered to pay restitution to his victims by the federal District Court...
  • US govt shuts Stanford's companies for $8 bn fraud February 18, 2009

    New York: The federal government says R. Allen Stanford's investment businesses were too good to be true, and shut his companies down on Tuesday. Two months after Bernard Madoff was accused of running the largest investment fraud in history, Securities and Exchange Commission officials raided the offices of Stanford, a...