Ponzi Schemes Investors
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Probe Agency Raids 32nd Avenue Group In Rs 500 Crore Scam, Seizes Cash, Gold
New Delhi, April 16 (IANS In fresh action in a Rs 500 crore ponzi scheme fraud, the ED searched seven premises across Delhi-NCR, Goa, Jaipur and Mumbai linked to 32nd Avenue Group and seized Rs 1.05 crore cash and jewellery items worth Rs 1.5 crore,
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GainBitcoin Crypto Scam Case: CBI Arrests Darwin Labs CTO and Co-Founder Ayush Varshney
The CBI has arrested Darwin Labs co-founder and CTO Ayush Varshney in connection with the GainBitcoin cryptocurrency scam. Investigators allege the scheme promised investors fixed Bitcoin returns through cloud mining but operated as a Ponzi-style operation. Authorities claim the technical infrastructure, including the MCAP token and related platfor...
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1 Firm, A Ponzi Scheme And Rs 1,600-Crore Scam: Probe Agency Files Chargesheet
Thousands were lured by profits and made to invest in schemes through a company named LFS Broking. People were assured quick returns, but an investor's worst nightmare came true; the schemes were Ponzi, and at least Rs 1,600 crore was swindled.
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Thousands Of Indian Investors Duped Of $100 Million In Ponzi Scheme: Cops
Thousands of investors in India are scrambling to recoup nearly $100 million after they were caught in a Ponzi scheme that duped them into making short-term investments promising high returns.
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Jewellery Firm Runs Rs 100-Crore 'Ponzi Scheme', Agency Conducts Searches
A Trichy-based jewellery chain, which has branches in several places in Tamil Nadu and Puducherry, including Chennai, is under the Enforcement Directorate's radar for running an alleged Ponzi scheme and duping investors of Rs 100 crore.
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Cryptocurrency Ponzi Scam Unearthed in Odisha, Head of ‘Yes World Crypto Token’ Arrested
The Economic Offences Wing (EOW) of Odisha has arrested the Country Head of "Yes World Crypto Token," namely Sandeep Choudhary (40) from Jaipur. Choudhary is a native of Rajasthan's Jhunjhunu. The case was registered on October 16 under sections 420, 467, 468, 471 and 120-B of the Indian Penal Code and sections 4, 5 and 6 of the Prize Chits and Mon...
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Director Of West-Bengal Based Company Arrested In Money Laundering Case
The promoter and director of a West Bengal-based company that allegedly ran a ponzi scheme and cheated gullible investors has been arrested under the anti-money laundering law, the Enforcement Directorate said on Tuesday.
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Crypto Pyramid Scheme Lands 11 in Trouble, SEC Alleges $300 Million Were Raised by Fraud
A total of 11 individuals in the US have been charged with whipping-up a crypto pyramid scheme, defrauding “millions of retailers”, and churning over $300 million (roughly Rs. 2,359 crore). Carolyn Welshhans, Acting Chief of the SEC’s Crypto Assets and Cyber Unit called Forsage a fraudulent pyramid scheme launched on a massive scale and aggre...
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US SEC Charges 11 People for Promoting Fraud Crypto Pyramid, Ponzi Scheme
The US Securities and Exchange Commission (SEC) has charged 11 people for creating, and promoting a fraudulent crypto pyramid and Ponzi scheme. The scheme, Forsage, raised over $300 million (nearly Rs. 2,300 crores) from retail investors worldwide, including in the United States. Two of the defendants agreed to settle the charges and one of them ag...
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OneCoin Ponzi Scheme Mastermind Ruja Ignatova Now in Europol's Most Wanted Criminal List
Ruja Ignatova, the founder of Ponzi scheme OneCoin, has been added to Europe’s list of most wanted fugitives as of Wednesday. Ignatova is known for being the founding head of OneCoin, one of the biggest scams in the history of crypto, and the basis of the BBC podcast series, titled The Missing Cryptoqueen.
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Crypto Ponzi Scheme Busted in Kerala, Investors Allegedly Robbed of Rs. 1,200 Crore
Enforcement Directorate (ED) on Tuesday said it has arrested an accused in connection with its money laundering probe against a Kerala-based businessman, who is alleged to have cheated more than 900 investors to the tune of Rs 1,200 crore in lieu of providing crypto currency to them.
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Man Arrested In Rs 1,200-Crore Crypto Fraud Case, 900 Investors Duped
The Enforcement Directorate has arrested an accused in connection with its money laundering probe against a Kerala-based businessman, who is alleged to have cheated more than 900 investors to the tune of Rs 1,200 crore
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BitConnect’s Indian-Origin Founder Indicted in US for Running $2.4-Billion Global Ponzi Scheme
The founder of now-defunct cryptocurrency investment platform BitConnect has been indicted by the US Department of Justice on charges of orchestrating a global ponzi scheme worth $2.4 billion (roughly Rs. 18,110 crore).
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Cryptocurrencies Are Like Ponzi Schemes, Says RBI Deputy Governor T. Rabi Sankar
Cryptocurrencies are akin to Ponzi schemes or worse, says deputy RBI governor T. Rabi Sankar, adding that one can’t regulate something that one can’t define.
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Maharashtra Man Dupes 100 Of Rs 59 Lakh With Ponzi Scheme: Official
A man in Thane city has been accused of duping some 100 investors to the tune of Rs 59 lakh by promising them high returns, a police official said on Friday.
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Probe Agency Raids 32nd Avenue Group In Rs 500 Crore Scam, Seizes Cash, Gold
New Delhi, April 16 (IANS In fresh action in a Rs 500 crore ponzi scheme fraud, the ED searched seven premises across Delhi-NCR, Goa, Jaipur and Mumbai linked to 32nd Avenue Group and seized Rs 1.05 crore cash and jewellery items worth Rs 1.5 crore,
-
GainBitcoin Crypto Scam Case: CBI Arrests Darwin Labs CTO and Co-Founder Ayush Varshney
The CBI has arrested Darwin Labs co-founder and CTO Ayush Varshney in connection with the GainBitcoin cryptocurrency scam. Investigators allege the scheme promised investors fixed Bitcoin returns through cloud mining but operated as a Ponzi-style operation. Authorities claim the technical infrastructure, including the MCAP token and related platfor...
-
1 Firm, A Ponzi Scheme And Rs 1,600-Crore Scam: Probe Agency Files Chargesheet
Thousands were lured by profits and made to invest in schemes through a company named LFS Broking. People were assured quick returns, but an investor's worst nightmare came true; the schemes were Ponzi, and at least Rs 1,600 crore was swindled.
-
Thousands Of Indian Investors Duped Of $100 Million In Ponzi Scheme: Cops
Thousands of investors in India are scrambling to recoup nearly $100 million after they were caught in a Ponzi scheme that duped them into making short-term investments promising high returns.
-
Jewellery Firm Runs Rs 100-Crore 'Ponzi Scheme', Agency Conducts Searches
A Trichy-based jewellery chain, which has branches in several places in Tamil Nadu and Puducherry, including Chennai, is under the Enforcement Directorate's radar for running an alleged Ponzi scheme and duping investors of Rs 100 crore.
-
Cryptocurrency Ponzi Scam Unearthed in Odisha, Head of ‘Yes World Crypto Token’ Arrested
The Economic Offences Wing (EOW) of Odisha has arrested the Country Head of "Yes World Crypto Token," namely Sandeep Choudhary (40) from Jaipur. Choudhary is a native of Rajasthan's Jhunjhunu. The case was registered on October 16 under sections 420, 467, 468, 471 and 120-B of the Indian Penal Code and sections 4, 5 and 6 of the Prize Chits and Mon...
-
Director Of West-Bengal Based Company Arrested In Money Laundering Case
The promoter and director of a West Bengal-based company that allegedly ran a ponzi scheme and cheated gullible investors has been arrested under the anti-money laundering law, the Enforcement Directorate said on Tuesday.
-
Crypto Pyramid Scheme Lands 11 in Trouble, SEC Alleges $300 Million Were Raised by Fraud
A total of 11 individuals in the US have been charged with whipping-up a crypto pyramid scheme, defrauding “millions of retailers”, and churning over $300 million (roughly Rs. 2,359 crore). Carolyn Welshhans, Acting Chief of the SEC’s Crypto Assets and Cyber Unit called Forsage a fraudulent pyramid scheme launched on a massive scale and aggre...
-
US SEC Charges 11 People for Promoting Fraud Crypto Pyramid, Ponzi Scheme
The US Securities and Exchange Commission (SEC) has charged 11 people for creating, and promoting a fraudulent crypto pyramid and Ponzi scheme. The scheme, Forsage, raised over $300 million (nearly Rs. 2,300 crores) from retail investors worldwide, including in the United States. Two of the defendants agreed to settle the charges and one of them ag...
-
OneCoin Ponzi Scheme Mastermind Ruja Ignatova Now in Europol's Most Wanted Criminal List
Ruja Ignatova, the founder of Ponzi scheme OneCoin, has been added to Europe’s list of most wanted fugitives as of Wednesday. Ignatova is known for being the founding head of OneCoin, one of the biggest scams in the history of crypto, and the basis of the BBC podcast series, titled The Missing Cryptoqueen.
-
Crypto Ponzi Scheme Busted in Kerala, Investors Allegedly Robbed of Rs. 1,200 Crore
Enforcement Directorate (ED) on Tuesday said it has arrested an accused in connection with its money laundering probe against a Kerala-based businessman, who is alleged to have cheated more than 900 investors to the tune of Rs 1,200 crore in lieu of providing crypto currency to them.
-
Man Arrested In Rs 1,200-Crore Crypto Fraud Case, 900 Investors Duped
The Enforcement Directorate has arrested an accused in connection with its money laundering probe against a Kerala-based businessman, who is alleged to have cheated more than 900 investors to the tune of Rs 1,200 crore
-
BitConnect’s Indian-Origin Founder Indicted in US for Running $2.4-Billion Global Ponzi Scheme
The founder of now-defunct cryptocurrency investment platform BitConnect has been indicted by the US Department of Justice on charges of orchestrating a global ponzi scheme worth $2.4 billion (roughly Rs. 18,110 crore).
-
Cryptocurrencies Are Like Ponzi Schemes, Says RBI Deputy Governor T. Rabi Sankar
Cryptocurrencies are akin to Ponzi schemes or worse, says deputy RBI governor T. Rabi Sankar, adding that one can’t regulate something that one can’t define.
-
Maharashtra Man Dupes 100 Of Rs 59 Lakh With Ponzi Scheme: Official
A man in Thane city has been accused of duping some 100 investors to the tune of Rs 59 lakh by promising them high returns, a police official said on Friday.
