Citigroup pays $180 mn to settle hedge fund fraud case

Last Updated: Monday, August 17, 2015, 21:44

US securities regulators ordered two Citigroup affiliates Monday to pay $180 million to settle charges that they defrauded investors by falsely claiming a pair of hedge funds were low-risk.

ED attaches land worth Rs 1,000 cr in US in loan fraud case

Last Updated: Friday, July 3, 2015, 00:28

For the first time ED had taken such an action in USA, an official said.

Standard format for reporting bank fraud cases on anvil

Last Updated: Sunday, June 28, 2015, 15:40

"Information received from the banks are highly unstructured which makes mining of data contained in the statements very difficult. They also use different narrations for debit and credit entries which are sometimes very cryptic in nature, making it difficult to decipher the nature of transactions and hence the money trail," an official said.

SC grants relief to Tech Mahindra in ED case

Last Updated: Monday, May 11, 2015, 18:59

In a breather to Tech Mahindra, the Supreme Court Monday restrained for four months a trial court in Andhra Pradesh from framing charges against the IT services company in connection with Enforcement Directorate's proceedings in the Satyam accounting fraud case.

Satyam case: Ramalinga Raju, 9 others granted bail; court suspends their sentences

Last Updated: Monday, May 11, 2015, 18:38

In a sigh of relief to Satyam Computers founder B Ramalinga Raju and 9 others sentenced to 7 years rigorous imprisonment in the multi-crore accounting fraud, the Hyderabad Court on Monday granted them bail.

Satyam case: Court rejects pleas of Raju, others

Last Updated: Monday, April 20, 2015, 19:42

A local court Monday rejected as non-maintainable the appeals filed by Satyam scam kingpin B Ramalinga Raju and others challenging a special court's verdict that found him and nine others guilty in the multi-crore rupee accounting fraud in erstwhile Satyam Computer Services Ltd (SCSL).

US prosecutor opposes Khobragade indictment deadline extension plea

Last Updated: Tuesday, January 7, 2014, 12:23

India-born US prosecutor Preet Bharara has told a judge here that his office is opposed to the one-month extension of the deadline for charging Devyani Khobragade in a visa fraud case as sought by her.

Sebi modifies attachment orders in IPO fraud case

Last Updated: Wednesday, December 18, 2013, 23:37

ICICI Bank, which was one of the banks directed to attach the accounts, had informed Sebi that Rs 9.50 lakh was transferred from the account of Yuti Dalal, Aashni D and Puloma Dalal to Yuti Dushyant Dalal on October 21.

Actor Rajpal Yadav sent to 10 days judicial custody by Delhi HC

Last Updated: Tuesday, December 3, 2013, 19:18

Bollywood actor Rajpal Yadav, known for his comic stint in Hindi films, has been sent to 10 days judicial custody by the Delhi High Court in Rs 5 crore recovery suit filed against him and his wife.

Mastermind of 'Speak Asia' fraud arrested

Last Updated: Tuesday, November 26, 2013, 19:42

In a major catch, Ram Sumiran Pal, an alleged mastermind of the over Rs 2,200-crore 'Speak Asia' online marketing firm scam in which around 24 lakh gullible Indians were duped has been arrested by Delhi police.

Apple under investigation in Italy for alleged $1.3 bn tax fraud

Last Updated: Wednesday, November 13, 2013, 23:47

US tech giant Apple is under investigation in Milan for allegedly hiding more than 1 billion euros (USD 1.34 billion) from the Italian taxman, a judicial source with direct knowledge of the matter told Reuters, confirming a local media report.

Akshaye Khanna hoaxed of Rs 50 lakh by husband-wife duo

Last Updated: Sunday, October 20, 2013, 11:59

Time and again we come across certain cases of fraudulent companies, who dupe in investors but are nowhere to be seen later. This time, it was none other than Bollywood actor Akshaye Khanna who had been conned by a fraudster couple.