Investment Fraud

A 37-year-old businessman from Mira Road in Thane has been cheated of Rs 33.65 lakh after he was tricked into investing in bitcoins on the false promise of lucrative returns, police said on Monday.

The Enforcement Directorate (ED) on Monday said it has seized Rs 1.21 crore cash and gold and diamond jewellery worth more than Rs 5 crore after it raided some Nagpur-based persons in a money laundering case linked to alleged investment fraud.

Rajasthan Police has arrested four people for allegedly duping around 20,000 people in the state of Rs 1,000 crore in the name of investing their money in neighbouring Gujarat's Dholera city.

The Navi Mumbai Police has arrested two persons for allegedly cheating people by promising lucrative returns on their investment plans and recovered nearly Rs 19 crore from them, an official said.

Former customers of FTX crypto exchange have sued three venture capital and private equity firms, accusing them in a proposed class action of fraudulently promoting the cryptocurrency exchange before it went bankrupt. According to a complaint filed late Tuesday in San Francisco federal court, Sequoia Capital, Thoma Bravo and Paradigm were "incentiv...

A 28-year-old resident of Thane city in Maharashtra lost Rs 10.55 lakh to a cyber conman who lured him to invest in bitcoins on the false promise of earning huge returns, an official said on Monday.

The group owned by tycoon Gautam Adani lost around $120 billion in value after claims of accounting fraud were levelled by short-seller US investment group Hindenburg Research on January 24.

Both houses of the parliament were adjourned for the day amid loud protests and sloganeering from opposition parties demanding a discussion on alleged frauds in investment by public sector institutions like LIC and SBI, causing loss in market value.

The investigation into a multi-million dollar fraud at the Kingston-based investment firm Stocks and Securities Limited (SSL), which has reportedly seen Bolt's $12 million account left almost empty, is dominating discussion in the Caribbean nation.

ChatGPT usage has been banned at Sciences Po, one of France's top universities, to prevent fraud and plagiarism. The university said on Friday the school had emailed all students and faculty announcing a ban on ChatGPT and all other AI-based tools at Sciences Po. ChatGPT has already been banned in some public schools in New York City and Seattle, a...

Authorities in Estonia have arrested two men on suspicion of defrauding $575 million (roughly Rs. 4,700 crore) from hundreds of thousands of people, police said on Monday. The joint operation involved more than 100 police officers, including around 15 US federal agents. According to a statement by the authorities, "invited people to invest in their...

A Chinese investment fraud to the tune of Rs 903 crore across India, China, Taiwan, Cambodia and UAE, has been busted by the Hyderabad police. Ten people -- including a Chinese and a Taiwanese national -- have been arrested.

More than 30 people from Solapur city in Maharashtra have allegedly been cheated of Rs 45 lakh after they invested through a crypto cloud mining app, police said on Tuesday citing complaints.

Citron Research founder Andrew Left on Monday called cryptocurrencies a “fraud”. Speaking at a conference about fraud financial markets where he saw potential fraud, Left said "I think crypto is just complete fraud, over and over and over." One of the world’s best known short sellers, Left did not reveal whether he had any investments in cryp...

A former investment manager at Celsius Network sued the crypto lender on Thursday, saying it used customer deposits to rig the price of its own crypto token and failed to properly hedge risk, causing it to freeze customer assets.

A 37-year-old businessman from Mira Road in Thane has been cheated of Rs 33.65 lakh after he was tricked into investing in bitcoins on the false promise of lucrative returns, police said on Monday.

The Enforcement Directorate (ED) on Monday said it has seized Rs 1.21 crore cash and gold and diamond jewellery worth more than Rs 5 crore after it raided some Nagpur-based persons in a money laundering case linked to alleged investment fraud.

Rajasthan Police has arrested four people for allegedly duping around 20,000 people in the state of Rs 1,000 crore in the name of investing their money in neighbouring Gujarat's Dholera city.

The Navi Mumbai Police has arrested two persons for allegedly cheating people by promising lucrative returns on their investment plans and recovered nearly Rs 19 crore from them, an official said.

Former customers of FTX crypto exchange have sued three venture capital and private equity firms, accusing them in a proposed class action of fraudulently promoting the cryptocurrency exchange before it went bankrupt. According to a complaint filed late Tuesday in San Francisco federal court, Sequoia Capital, Thoma Bravo and Paradigm were "incentiv...

A 28-year-old resident of Thane city in Maharashtra lost Rs 10.55 lakh to a cyber conman who lured him to invest in bitcoins on the false promise of earning huge returns, an official said on Monday.

The group owned by tycoon Gautam Adani lost around $120 billion in value after claims of accounting fraud were levelled by short-seller US investment group Hindenburg Research on January 24.

Both houses of the parliament were adjourned for the day amid loud protests and sloganeering from opposition parties demanding a discussion on alleged frauds in investment by public sector institutions like LIC and SBI, causing loss in market value.

The investigation into a multi-million dollar fraud at the Kingston-based investment firm Stocks and Securities Limited (SSL), which has reportedly seen Bolt's $12 million account left almost empty, is dominating discussion in the Caribbean nation.

ChatGPT usage has been banned at Sciences Po, one of France's top universities, to prevent fraud and plagiarism. The university said on Friday the school had emailed all students and faculty announcing a ban on ChatGPT and all other AI-based tools at Sciences Po. ChatGPT has already been banned in some public schools in New York City and Seattle, a...

Authorities in Estonia have arrested two men on suspicion of defrauding $575 million (roughly Rs. 4,700 crore) from hundreds of thousands of people, police said on Monday. The joint operation involved more than 100 police officers, including around 15 US federal agents. According to a statement by the authorities, "invited people to invest in their...

A Chinese investment fraud to the tune of Rs 903 crore across India, China, Taiwan, Cambodia and UAE, has been busted by the Hyderabad police. Ten people -- including a Chinese and a Taiwanese national -- have been arrested.

More than 30 people from Solapur city in Maharashtra have allegedly been cheated of Rs 45 lakh after they invested through a crypto cloud mining app, police said on Tuesday citing complaints.

Citron Research founder Andrew Left on Monday called cryptocurrencies a “fraud”. Speaking at a conference about fraud financial markets where he saw potential fraud, Left said "I think crypto is just complete fraud, over and over and over." One of the world’s best known short sellers, Left did not reveal whether he had any investments in cryp...

A former investment manager at Celsius Network sued the crypto lender on Thursday, saying it used customer deposits to rig the price of its own crypto token and failed to properly hedge risk, causing it to freeze customer assets.