Cryptocurrencies are worse than Ponzi schemes, says RBI Deputy Governor

Feb 14, 2022

Mumbai (Maharashtra) [India], February 14 : Cryptocurrencies have specifically been developed to bypass the regulated financial system and it is akin to or even...

President allows Ladakh LG to use BUDS Act to ban ponzi schemes, unregulated deposits

Jun 02, 2022

New Delhi [India], June 2 : President Ram Nath Kovind on Thursday directed the Ladakh Lieutenant Governor RK Mathur to exercise the powers and...

ED files prosecution complaint against 2 people under PMLA in Ponzi schemes case

Jan 23, 2021

New Delhi [India], January 23 : The Directorate of Enforcement (ED) has filed a prosecution complaint against Radhe Shyam and Bansi Lal, owners of...

ED attaches assets worth Rs 6.28 cr of Saradha Group of Companies in Assam

Apr 22, 2022

New Delhi [India], April 22 : The Enforcement Directorate (ED) has attached assets worth Rs 6.28 crore of Saradha Group of Companies in Assam...

Ponzi Schemes: CBI books 132 firms in 100 FIRs since 2019; ED 87 PMLA cases

Aug 08, 2022

New Delhi, August 8 The Central Bureau of Investigation (CBI) has registered 100 cases involving 132 firms relating to Ponzi schemes in the...

CBI registers case against Universal Trading Solutions involved in multi-crore scam

Dec 15, 2023

The Central Bureau of Investigation (CBI) has registered a case against Gowtham Ramesh, managing director of Coimbatore-based Universal Trading Solutions Pvt Ltd (UTS), over...