Hyderabad, April 26 (IANS) Hyderabad police have arrested a senior executive of a firm in an alleged multi-level marketing fraud case. Sleuths of the Mirchowk Police Station apprehended Harish Kumar Singla, who is working as Country Sales Manager (CSM) at Forever Living Imports (India) Pvt Ltd.Kiran Khare, Deputy Commissioner of Police, Charminar Zone, told the media on Sunday that Harish Kumar Singla, a resident of Haryana, has been booked under Sections 61, 316(2), 318(4), 308, 351 and 352 rea…
Latest fraud News & Updates
Jaipur, April 16 (IANS) Rajasthan Police on Thursday issued a public advisory warning citizens about a surge in cyber fraud attempts being carried out under the pretext of the Central Government’s upcoming digital census initiative. Acting on directives from Additional Director General of Police (Cyber Crime) V.K. Singh, the Cyber Crime Branch cautioned that fraudsters are posing as census officials to extract sensitive personal and financial information from unsuspecting individuals.Acc…
Ranchi, April 14 (IANS) A fresh case of fraudulent withdrawal from a government treasury has surfaced in Jharkhand, this time in Ranchi, following similar scams in Hazaribagh and Bokaro. Around Rs 3 crore has allegedly been siphoned off from the state capital treasury, with two employees of the Institute of Animal Health and Production in Kanke accused of manipulating salary accounts to embezzle funds.Acting on the directions of the Ranchi Deputy Commissioner, Executive Magistrate Md. Zafar Hasn…
Jaipur, March 30 (IANS) In a significant ruling, the Rajasthan High Court has held that investigating agencies cannot freeze an individual’s entire bank account and must restrict action only to the disputed amount. The order came in a case involving filmmaker Shwetambari Vikram Bhatt, whose accounts had been frozen fully during a fraud investigation. The court observed that freezing a bank account is an “extraordinary measure” and should be used sparingly, with due legal safeguards.It rule…
New Delhi, March 25 (IANS) A major financial irregularity has come to light in Haryana, where the Panchkula Municipal Corporation has found discrepancies of over Rs 150 crore in its fixed deposits with Kotak Mahindra Bank. The development comes just a month after a Rs 590-crore fraud was reported at the Chandigarh branch of IDFC First Bank.According to NDTV Profit report, the civic body had invested funds in fixed deposit receipts (FDRs) at the bank’s Sector 11 branch.However, the issue surfac…
Jaipur, March 10 (IANS) Rajasthan Police on Tuesday achieved a breakthrough by arresting an interstate fraudster accused of cheating thousands of people under the pretext of providing work-from-home jobs. The accused, Kumar Sanu alias Deepak Singh (25), son of Vijay Kumar and a resident of Baurna village under Gogri Police Station in Khagaria district of Bihar, was arrested in Bihar.The Inspector General of Police, Kota Range, had earlier announced a reward of Rs 50,000 for his arrest. Kot…
Washington, Feb 25 (IANS) US President Donald Trump declared that America was “winning again,” touting sweeping tax cuts, what he called the “strongest and most secure border in American history,” and a new policy to shield consumers from rising electricity costs linked to artificial intelligence.“For all these reasons, I say tonight—Members of Congress, the state of our union is strong,” Trump said in his State of the Union address.On the economy, Trump said his administration had del…
New Delhi, Feb 23 (IANS) The Reserve Bank of India (RBI) on Monday said there is no systemic risk to the banking system and stressed that the Central Bank does not comment on individual banks or regulated entities, as IDFC First Bank revealed the Rs 590-crore fraud at its Chandigarh branch.Addressing a joint press conference after a meeting of the RBI’s central board of directors in the national capital, RBI Governor Sanjay Malhotra said the regulator is closely monitoring the situation but th…
Mumbai, Feb 23 (IANS) Shares of IDFC First Bank hit the 20 per cent lower circuit on Monday after the lender reported fraudulent transactions worth about Rs 590 crore, allegedly committed by its employees at its Chandigarh branch.The stock fell to Rs 66.85, its intra-day low, down 20 per cent. The shares opened 10 per cent lower and later extended their losses. At 10:33 am, shares were trading at Rs 70.10, down 16.06 per cent on the day.The bank said the matter is confined to a set of Haryana go…
New Delhi, Feb 22 (IANS) The Haryana Government on Sunday de-empanelled IDFC First Bank and AU Small Finance Bank from handling government business with immediate effect after an alleged fraud of around Rs 590 crore came to light.In an official circular, the state government said both banks have been barred from carrying out any government-related transactions in Haryana until further orders.It directed all departments, boards, corporations and public sector undertakings to stop using these bank…