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Sudipta Sen, the central figure in the multi-crore Saradha ponzi scheme, has been granted bail in his final cases by the Calcutta High Court, potentially securing his release after 13 years and marking a significant development in the Saradha scam investigation. Key PointsSudipta Sen, the key accused in the Saradha ponzi scam, has been granted bail by the Calcutta High Court in the remaining two criminal cases against him.Sen's bail in these cases paves the way for his potential release from ja ...Read More >
Kolkata: The Calcutta High Court on Wednesday granted conditional bail to multi-crore Saradha ponzi scam accused Sudipta Sen in the last two of the 300-odd criminal cases against him, paving the way for his release from jail after 13 years. A division bench of the high court granted bail to Sen in two cases about the Barasat police station in the North 24 Parganas district of West Bengal. Sen has already been granted bail in all the other cases registered against him, including four criminal ca ...Read More >
New Delhi: The CBI has intensified its investigation into the alleged GainBitcoin cryptocurrency scam with the arrest of a key individual linked to the scheme's technology infrastructure. The Central Bureau of Investigation arrested Ayush Varshney, who served as co-founder and CTO of Darwin Labs Private Limited. Authorities said the arrest relates to the ongoing probe into the GainBitcoin cryptocurrency fraud case. According to the agency, the case involves an alleged Ponzi scheme promoted by V ...Read More >
Searches revealed deliberate manipulation of fictitious token prices and rebranding of platforms. The Enforcement Directorate conducted coordinated search operations at eight locations across Himachal Pradesh and Punjab on Saturday in connection with a fake cryptocurrency-based Ponzi and Multi-Level Marketing (MLM) scam that allegedly defrauded several investors of around Rs 2,300 crore. The operation was carried out under the Prevention of Money Laundering Act (PMLA), following multiple FIRs ...Read More >
The Economic Offences Wing of Odisha police busted a major Ponzi scam to the tune of Rs 1,000 crore spread across the country with arresting one of the operators on the charge of having deceived more than Rs 92 lakh lifetime savings of a senior citizen. The accused Pratap Kumar Rout, who operated as Hedgex Fund LLP was arrested from Cuttack and was remanded to judicial custody under relevant sections of Indian Penal Code sections, Prize Chits and Money Circulation Schemes (Banning) Act, Informa ...Read More >
The Enforcement Directorate (ED) has filed a chargesheet against businessman Raj Kundra in connection with a bitcoin-linked money laundering case, alleging that he was a "beneficial owner" of 285 Bitcoins and not just a mediator as he has claimed. The chargesheet, recently filed before a special PMLA court, states that the Bitcoins, currently valued at ₹150.47 crore, were received by Kundra from late crypto-scam mastermind Amit Bhardwaj. According to the ED, Kundra failed to disclose crucial ...Read More >
Kolkata, Sep 15 (SocialNews.XYZ) The Enforcement Directorate (ED), Kolkata, on Monday, alleged that a number of Sahara Group assets, which were acquired out of the deposits collected from the public, were being disposed of in a clandestine manner via cash transactions, said the agency in a statement. The central investigation agency filed a charge sheet in the matter before a special Prevention of Money Laundering Act (PMLA) court in Kolkata on September 6. It named Anil V Abraham and Jitendra ...Read More >
New Delhi, Sep 15 (PTI) The Enforcement Directorate (ED) on Monday alleged that a number of Sahara Group assets, which were acquired out of the deposits collected from the public, were being disposed of in a "clandestine" manner via cash transactions. The federal probe agency filed a chargesheet in the matter before a special Prevention of Money Laundering Act (PMLA) court in Kolkata on September 6. It named Anil V Abraham and Jitendra Prasad Verma, both arrested in the case by the ED and pres ...Read More >
Gangtok, Jul 19 (PTI) Vehicular movement on a stretch of National Highway-10 connecting Sevoke in West Bengal and Sikkim's Rangpo has been temporarily halted due to landslides and rockfall, officials said on Saturday. Clearance activities are underway on the stretch following landslides at Birik Dara in Kalimpong district of West Bengal, they said. The road is closed for all vehicular movement along the stretch since 11 am on Friday, the National Highways and Infrastructure Development Corpora ...Read More >
New Delhi, Jul 19 (PTI) US short seller Viceroy Research's report on the Vedanta Group "lacks credibility" and the firm would be well-placed to seek legal remedies, former chief justice of India D Y Chandrachud has said. Justice Chandrachud's remark came after Vedanta sought an independent legal opinion from the former chief justice in relation to the allegations made in the Viceroy Research report, the company said in a regulatory filing on Friday. According to the filing, the former CJI has ...Read More >
New Delhi, July 13 (SocialNews.XYZ) The Enforcement Directorate on Sunday said that it has arrested two persons in probe against the Sahara Group over money laundering case, which included Anil Vailaparampil Abraham, Executive Director of Sahara Group's Chairman Core Management (CCM) Office, and Jitendra Prasad Verma, a long-time associate and property broker of the conglomerate. The arrests were made by ED's Kolkata zonal branch in connection with the money laundering probe against the Sahara ...Read More >
New Delhi [India], July 13 (ANI): The Enforcement Directorate (ED) has attached immovable properties valued at Rs 762.47 crore in connection with Rs 48,000 crore ponzi scheme case involving PACL Ltd, its directors, promoters, and associated entities, the agency said on Saturday. https://x.com/dir_ed/status/1944071195764093413 The properties, spread across Punjab, Haryana, Delhi, Maharashtra, and even Australia, have been seized under the provisions of the Prevention of Money Laundering Act (PM ...Read More >
New Delhi, July 13: The Enforcement Directorate (ED) has attached immovable properties valued at Rs 762.47 crore in connection with Rs 48,000 crore ponzi scheme case involving PACL Ltd, its directors, promoters, and associated entities, the agency said on Saturday. The properties, spread across Punjab, Haryana, Delhi, Maharashtra, and even Australia, have been seized under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, said the ED in a statement. ED's Delhi zonal office ...Read More >
New Delhi [India], July 13 (ANI): The Enforcement Directorate (ED) has attached immovable properties valued at Rs 762.47 crore in connection with Rs 48,000 crore ponzi scheme case involving PACL Ltd, its directors, promoters, and associated entities, the agency said on Saturday. The properties, spread across Punjab, Haryana, Delhi, Maharashtra, and even Australia, have been seized under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, said the ED in a statement. ED Delhi ...Read More >
New Delhi [India], July 13 (ANI): The Enforcement Directorate (ED) has attached immovable properties valued at Rs 762.47 crore in connection with Rs 48,000 crore ponzi scheme case involving PACL Ltd, its directors, promoters, and associated entities, the agency said on Saturday. https://x.com/dir_ed/status/1944071195764093413 Also Read | Forgery Case: Ghaziabad Court Issues Non-Bailable Warrant Against Congress MP Imran Masood. The properties, spread across Punjab, Haryana, Delhi, Maharashtra ...Read More >
New Delhi, Jul 12 (PTI) Assets worth more than Rs 762 crore of PACL (the Pearls Group) and its promoters have been attached under the anti-money laundering law in a case linked to an alleged Rs 48,000 crore Ponzi scheme, in which numerous investors were duped, the Enforcement Directorate (ED) said on Saturday. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach the 68 immovable properties located across Punjab, Haryana, Delhi, Maharashtra, and in Au ...Read More >
Agartala (Tripura) [India], July 10 (ANI): A large-scale state-level mock exercise simulating flood and landslide scenarios was successfully conducted across Tripura with special emphasis on West Tripura District by the District Disaster Management Authority (DDMA) under the supervision of the National Disaster Management Authority (NDMA). Vishal Kumar, District Magistrate (DM) of West Tripura, addressed the media following the drill, and highlighted that rescue operations were carried out simu ...Read More >
MUMBAI: In a move reminiscent of Hindenburg going short on Adani Group, US-based financial researcher Viceroy Research said Wednesday it was "shorting" the debt stack of metal tycoon Anil Agarwal-controlled Vedanta Resources, the UK-based parent of Mumbai-listed miner Vedanta, as it believes the entire group structure is 'financially unsustainable', operationally compromised, 'a house of cards', poses severe risks to creditors, and 'resembles a Ponzi scheme'. Viceroy's 87-page report came ahead ...Read More >
NEW DELHI: US-based investigative financial research Viceroy Research has alleged that the entire group structure of Vedanta is "financially unsustainable, operationally compromised, and poses a severe, under-appreciated risk to creditors". In its report, Viceroy said that Vedanta Resources "resembles a Ponzi scheme". Viceroy said on Wednesday it is shorting the debt stack of Vedanta Resources (VRL), the parent company and majority owner of Vedanta Ltd (VEDL). It described Vedanta Resources as ...Read More >
Mumbai: The Enforcement Directorate (ED) has submitted a chargesheet against CA and financial consultant Amber Dalal and associates for alleged investor fraud through Ritz Consultancy Services. The court acknowledged the chargesheet in the last week. The probe stems from an FIR filed by Oshiwara police last March, accusing Dalal of swindling Rs 564 crore from 2,000 investors through a ponzi arrangement via Ritz Consultancy Services. Dalal collected funds by offering monthly returns of 1.5% to 1 ...Read More >
Mumbai: In a significant development involving a decade-old case, a special court has approved Enforcement Directorate's (ED's) plea to restitute nearly Rs 290 crore worth of attached assets of Pen Co-operative Urban Bank Ltd, which can be paid to depositors who suffered financial losses in the associated money-laundering case. The case affected two lakh depositors and 42,000 shareholders of Pen Co-operative Urban Bank Ltd, then controlled by one of the accused, Shishir Dharkar, former mayor of ...Read More >
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