Mumbai, June 10 (IANS) The Directorate of Enforcement (ED) has provisionally attached a prime Arabian Sea-facing property in Maharashtra’s Raigad district, valued at more than Rs 60 crore. The attachment was carried out by the ED’s Indore Zonal Office under the provisions of the Prevention of Money Laundering Act (PMLA) as part of its ongoing probe into the alleged Rs 1,400-crore bank fraud involving S. Kumars Nationwide Limited (SKNL), an official statement said on Wednesday.The property, locat…
Latest Bank Fraud News & Updates
Chandigarh, June 1 (IANS) The Directorate of Enforcement (ED), Chandigarh Zonal Office, has arrested real estate businessman Vikram Wadhwa under the provisions of the PMLA in connection with its ongoing investigation into the alleged Rs 645 crore IDFC First Bank fraud case, an official statement said on Monday.According to the ED, Wadhwa was arrested on May 29 under Section 19 of the PMLA.The agency’s investigation has so far revealed the alleged embezzlement of public funds amounting to approxi…
Chandigarh, May 29 (IANS) The ED arrested a company’s top official in a case related to causing Rs 155 crore loss to banks using Foreign Letters of Credit (FLCs) for creating a mirage of fake import of timber from Singapore, an official said on Friday. The Directorate of Enforcement (ED), Chandigarh Zonal Office, arrested Deepak Singla of Mahesh Timber Pvt Ltd under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, on May 18, 2026.Subsequently, transit remand was taken from Ro…
Chennai, May 23 (IANS) A special CBI court in Chennai has convicted a private software company, its Managing Director and CEO, along with two other private individuals, in connection with a bank fraud case involving fraudulent loans amounting to Rs 1.24 crore, officials said on Saturday.The verdict was delivered by the CBI Court in Chennai on Friday after completion of the trial in the case investigated by the Central Bureau of Investigation (CBI).According to officials, the convicted company is…
Lucknow, May 14 (IANS) The Central Bureau of Investigation (CBI) has arrested two accused in a bank fraud case involving unauthorized fixed deposits worth Rs 64 crore in the name of an Uttar Pradesh government entity and embezzlement of interest, an official said on Thursday. The CBI registered the instant case on January 15 on receiving a complaint from Bank of India, Lucknow, against accused Deepak Sanjeev Suvarna and Deepak Yadava – both private persons, the probe agency said.The accused we…
Bhopal/Narmadapuram, May 12 (IANS) Madhya Pradesh Police has busted an inter-state cyber fraud gang involved in stealing money from bank accounts through malicious APK files and eSIM swapping, officials said on Tuesday. Two accused — Umesh Das (30) and Uttam Kumar Das (23), both residents of Madhupur in Jharkhand’s Deoghar district — were arrested on May 7 and brought to Madhya Pradesh on May 11, police said.According to police, the accused allegedly duped a villager from Narmadapuram …
Patna/Shillong, April 28 (IANS) The Central Bureau of Investigation (CBI) has arrested an absconding accused in connection with a Rs 60.86 lakh bank fraud case involving the Bharat Sanchar Nigam Limited (BSNL), nearly 14 years after the registration of the FIR, officials said on Tuesday.The accused, identified as Manoj Kumar Sinha alias Manoj Sinha, had been evading arrest since the registration of the FIR in 2012 and never joined the investigation, the agency said.According to the CBI, the case…
New Delhi, April 20 (IANS) The Central Bureau of Investigation (CBI) has arrested two senior executives of Anil Ambani-controlled Reliance Communications (RCom), D. Vishwanath and Anil Kalya, in connection with the Rs 19,694 crore bank fraud case registered against the company, according to an agency statement on Monday. The CBI had registered a regular case against Reliance Communications Limited, Anil D Ambani, and unknown others on the complaint of State Bank of India (SBI), on the allegation…
Washington, April 3 (IANS) A Chinese national unlawfully residing in the United States has been sentenced to 30 months in prison for his role in an identity theft and vehicle fraud scheme involving luxury cars, federal prosecutors said.David X. Sullivan, United States Attorney for the District of Connecticut, said Huachun Zheng, also known as “Ri Yuan,” 43, was sentenced by US District Judge Sarala V. Nagala in Hartford.According to court documents and statements made in court, Zheng and his…
Mumbai, March 26 (IANS) The Central Bureau of Investigation (CBI) has registered a case against Reliance Telecom Ltd., its then Directors Satish Seth and Gautam B. Doshi, along with unknown public servants and others, in connection with an alleged bank fraud case involving State Bank of India (SBI) amounting to Rs 114.98 crore.According to officials, the agency has invoked charges of criminal conspiracy and cheating under the Indian Penal Code, along with provisions related to criminal misconduc…