New Delhi, April 18 (IANS) In a major breakthrough, the Delhi Police Crime Branch (Western Range-II) on Saturday has dismantled an interstate cyber fraud syndicate involved in a high-value online investment scam. Four accused persons have been apprehended in connection with the case, which spanned multiple states, including Delhi, Punjab, and Rajasthan. According to officials, the well-organised network was engaged in procuring mule bank accounts and routing defrauded money through layered finan…
Latest Financial fraud News & Updates
Mumbai, April 8 (IANS) The Enforcement Directorate (ED) has provisionally attached 33 immovable and movable properties valued at nearly Rs 16.95 crore belonging to Hiren Ranjit Bhanu, his wife Gauri Hiren Bhanu, and other family members under the Prevention of Money Laundering Act (PMLA), 2002, officials said on Wednesday. The attached assets include fixed deposits, bank balances, residential flats, commercial offices, and agricultural land.The ED’s Mumbai Zonal Office initiated the money launde…
Lucknow, April 1 (IANS) The Central Bureau of Investigation (CBI) has arrested proclaimed offender Sameer Joshi in connection with a financial fraud case linked to the Life Insurance Corporation of India, officials said on Wednesday.According to officials, the CBI had registered the case on August 13, 2012, based on a complaint received from LIC, Lucknow, alleging large-scale misappropriation of funds by the accused through the preparation of forged cheques for fraudulent insurance policies.Inve…
New Delhi, Feb 19 (IANS) The Delhi High Court has agreed to examine a public interest litigation (PIL) seeking framing of comprehensive guidelines to curb the growing menace of frauds perpetrated through the Unified Payments Interface (UPI). Issuing notice, a bench of the Chief Justice D.K. Upadhyaya and Justice Tejas Karia sought responses from the Union government, the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) on the plea filed by retired Central governm…
Kolkata, Jan 29 (IANS) The Central Bureau of Investigation (CBI) on Thursday raided multiple locations in south Kolkata in connection with a multi-crore financial fraud case. According to sources, officials of the central investigation agency first raided the home and office of a businessman on New Road in Alipore. After finding no one there, they then went to another house in Alipore. The search is ongoing at the moment. The search and raid began in the morning.According to CBI sources, the rai…
Jaipur, Dec 31 (IANS) In a major development from the Rajasthan capital, Jaipur, Mahesh Nagar Police have arrested a 2019-batch RPS officer, Ritesh Patel, posted under APO status, on serious charges of financial fraud, intimidation, and extortion.According to police, the case pertains to a financial transaction dispute between Patel and the complainant.During this dispute, Patel allegedly threatened the complainant and demanded Rs 1 crore, the police added.Sources said the officer had demanded R…
New Delhi, Dec 30 (IANS) Delhi Police on Tuesday busted a Rs 22.7 lakh cyber scam and arrested two accused from Haryana. A fake stock trading app gang was nabbed in the operation. According to Shahdara District Police, Delhi, on November 13, complainant Amita Garg filed an online complaint regarding a cyber fraud amounting to Rs 22,70,000. In her complaint, she alleged that she was added to a WhatsApp group named “Stan Chart Dialogue Forum L7”.The group had five administrators who regularly …
Bengaluru, Dec 22 (IANS) The Enforcement Directorate’s (ED) Bengaluru Zonal Office has conducted search operations late last week under the Prevention of Money Laundering Act (PMLA), 2002, at 21 premises spread across Karnataka, Maharashtra and Delhi at the residential and office premises of the accused persons and their associates under PMLA in the case of “4th Bloc Consultants and others” in connection with large scale organised financial fraud involving crypto currency-based investment platfo…