New Delhi, June 2 (IANS) The Central Bureau of Investigation (CBI) arrested two key accused in connection with the Rs 800 crore LUCC chit fund scam that allegedly duped more than one lakh investors across Uttarakhand, the agency said on Tuesday.The arrested accused have been identified as Kishan Jain and Pankaj Jain, also known as Pankaj Chaudhary.They were apprehended in Mumbai on Monday following what the agency described as sustained and intensive investigative efforts involving scrutiny of e…
Latest Banning of Unregulated Deposit Schemes Act News & Updates
Gandhinagar, May 24 (IANS) Aravalli District Congress President Arun Patel has been arrested by Gandhinagar Police in connection with a multi-crore investment fraud case involving Shoutspace Digital Private Limited, marking the latest development in an alleged financial scam centred on “terabyte space” investments that investigators say misled many investors across Gujarat. According to the police on Saturday, the case originated from operations conducted at WTC Complex in Ratanpur village under…
Guwahati, March 24 (IANS) The Enforcement Directorate’s (ED) Guwahati Zonal Office, has provisionally attached assets worth Rs 13.41 crore in connection with a major ponzi scam involving M/s DB Stock Consultancy and its proprietor Deepankar Barman, officials said on Tuesday. The operation was carried out under the Prevention of Money Laundering Act (PMLA), 2002, following an ongoing probe into alleged cheating of investors through unregulated deposit schemes.According to the ED, the attached ass…
Kochi Feb 19 (IANS) In a major step towards compensating victims of the Rs 2,000-crore Popular Finance scam, the Special Court for PMLA Cases at Ernakulam has ordered restitution of attached assets worth Rs 65.07 crore to the Competent Authority under the Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act). The order dated February 10, 2026, directs that movable properties valued at Rs 33.20 crore and immovable assets worth Rs 31.87 crore, earlier attached by the Enforcement Directora…