Enforcement Directorate (ED) has booked an enforcement case information report (ECIR) under the Prevention of Money Laundering Act (PMLA) against multi-level marketing company, Sun Pariwar. Earlier, the Cyberabad police had arrested the accused in a scam in which thousands were cheated to the tune of Rs 150 crore. On December 14, 2018, Cyberabad police had […]
ED Files Prosecution Complaint In MLM, Ponzi Scheme Case Against Gold Sukh
The Enforcement Directorate has filed a prosecution complaint under the Prevention of Money Laundering Act, 2002 (PMLA) before the court of Special Judge (PMLA), Jaipur in an MLM/Network Marketing and Ponzi scheme case. The prosecution complaint has been filed against 12 accused – Gold Sukh Trade India Ltd, its sister concern Gold Sukh Corporation Ltd, Jaipur, its Directors […]
Cases of Corporate Frauds/Chit Fund Scams Involving Companies
The Ministry, during the last three years and current year, has ordered investigation into the affairs of 145 companies which were allegedly involved in illegal deposit taking activities. A State-wise list of these companies is enclosed as Annexure. In many of the cases where investigations have been completed, diversion of funds so collected and/ or default […]
More complaints pilling against shopcard.biz
The number of complaints against the fake online shopcard.biz company is increasing day by day. More people who have lost their income and have deposited capitals are showing their rage against the fraud business prototype. Numerous complaints against B Kumar Soni, Marketing And Sales Head, shopcard.biz have been registered. shopcard.biz was basically dealing with the investment plans with […]
Three Shreesurya representatives apprehends by Economic Offences Wing
On Wednesday at Nagpur, the Economic Offences Wing (EOW) apprehended three Shreesurya group‘s agents for the investigation. The detained agents are A Suryawanshi, Nishikant Mayee and P Dange. Prior to this, the directors of Shreesurya group, Sameer Joshi and his wife Pallavi are already in police custody. Vishnu Bhoye, the investigating officer said that the investigator have […]
Case Registerd against PGF and PACL: CBI
After registering a case against PACL and PGF for allegedly duping investors money by promising agricultural land to the investors, CBI started searching the offices of Real-estate cum chit fund companies.
Need More time to submit report on chitfund scams: SFIO
The SFIO (Serious Fraud Investigation Office) said that the report on chit fund scams by Saradha and other companies will be submitted by march. The Ministry had earlier expected the final report by last December.
MD of QuestNet India, Pushpam Appalanaidu arrested
Pushpam Appalanaidu, a 50 year-old Malaysian women, managing director of QuestNet India was arrested on the charge of duping Rs 160 crore through QuestNet, by Andhra Pradesh State Police.
Mastermind of Chitfund scam nabbed: CBI
Abu Sadeque Ishtiak Ahmed Choudhary, Chit fund scam Mastermind from Tripura got nabbed on Wednesday at Kolkata. He was hiding there from quite sometime, he duped around Rs 11 crore from a many gullible investors of Tripura.
3000 People scamed in Chhattisgarh between 2009-2013 by chit fund companies
In response to a question on Wednesday, by Congress legislator, Motilal Devangan, Home Minister, Ramsewak paikra, replied that on average 41 lakhs per head and around Rs 124 crores were swindled over 3000 people in last four years at Chhattisgarh by chit fund companies.