Ponzi Scheme

Ponzi Scheme News

Keeping close watch on CBI to see if BJP influencing Saradha probe: TMC
India

Keeping close watch on CBI to see if BJP influencing Saradha probe: TMC

"If the BJP-led government at the Centre is involved in any conspiracy against us, it will also face the consequence," TMC leader cautioned.

How Chidambaram, UPA have turned India into a ponzi scheme
India

How Chidambaram, UPA have turned India into a ponzi scheme

What this means in simple English is that the government is issuing fresh bonds and raising money to repay maturing bonds as well as to pay interest on the existing bonds.

US judge approves JPMorgan's $543 mn deal to settle Madoff claims
World

US judge approves JPMorgan's $543 mn deal to settle Madoff claims

A federal bankruptcy judge on Tuesday approved JPMorgan Chase & Co's $543 million deal to end two private lawsuits stemming from its relationship with convicted Ponzi scheme mastermind Bernard Madoff.

SUUTI money belongs to UTI investors and not to the government
Business

SUUTI money belongs to UTI investors and not to the government

Effectively, the government ran UTI to the ground, bought back the assets of its victims for a pittance by offering them a Hobson's choice, and is now ready to make a killing by selling off those assets when the equity markets are much higher

Better coordination needed to fight ponzi menace: U K Sinha
Business

Better coordination needed to fight ponzi menace: U K Sinha

There have been a number of cases in past few years of entities raising huge amounts of money from gullible investors through illegal CIS (Collective Investment Scheme) activities, many of which later faced crackdown by Sebi.

JPMorgan settles Madoff's massive Ponzi scheme claims for $1.7 bn
Business

JPMorgan settles Madoff's massive Ponzi scheme claims for $1.7 bn

JPMorgan Chase & Co, already beset by other costly legal woes, will pay over $2 billion for ignoring obvious warning signs of Bernard Madoff's massive Ponzi scheme, authorities said today.

Christmas special: 10 personal finance tips from the Bible
Investing

Christmas special: 10 personal finance tips from the Bible

The tips are so mind boggling that it looks like modern day financial planners have borrowed a leaf from ancient scriptures to make the foundation principles of modern day personal finance.

Cong alleges, BJD govt hand in gloves with ponzi firms
India

Cong alleges, BJD govt hand in gloves with ponzi firms

Accusing the Odisha government of being hand in gloves with various ponzi companies looting poor investors, Congress today demanded a CBI probe and a white paper on the issue before walking out of the Assembly.

Wealthy NSEL investors like Akshaye Khanna deserve no sympathy
Investing

Wealthy NSEL investors like Akshaye Khanna deserve no sympathy

The cases of retail investors losing money in ponzi schemes are even higher than wealthy investors losing money in such schemes. In India, the Tamil Nadu police became so fed up with such scams that they threatened to arrest investors who invested in such promised high return schemes.

Saradha ponzi scam: Kunal Ghosh summoned for seventh time
Business

Saradha ponzi scam: Kunal Ghosh summoned for seventh time

Ghosh had been summoned by the Bidhanagar Police for six times in the past one month in connection with the same scam.<br /><br />

Debt ceiling absurdity: How the US Fed is running a ponzi scheme
Economy

Debt ceiling absurdity: How the US Fed is running a ponzi scheme

This is a perfect Ponzi scheme where the government is paying off old debt by issuing new debt.

SFIO submits interim report on Saradha chit fund scam
Economy

SFIO submits interim report on Saradha chit fund scam

A SFIO probe into Saradha scam and 'chit fund' operations of 62 other entities has found serious financial mismanagement and siphoning off the funds by their promoters, who took advantage of regulatory gaps.

Dr Rajan, your next crisis is coming up in banking
Business

Dr Rajan, your next crisis is coming up in banking

Both banks and government seem able to get the RBI to do what they want. Banks are captive to the government, and the regulator is bending over backwards to oblige loss-making banks. The next crisis will thus be in the banking system.

RBI, govt should protect investors from illegal schemes: Subbarao
Biztech

RBI, govt should protect investors from illegal schemes: Subbarao

The outgoing RBI governor also said that financial inclusion and financial literacy are among the top priorities for the central bank.<br /><br />

Sahara link behind Samajwadi Party's opposition to Sebi bill?
Business

Sahara link behind Samajwadi Party's opposition to Sebi bill?

As of now, the Sebi can regulate only listed companies. The amendment will allow it to regulate unlisted companies too, which will bring Sahara Real Estate Corporation and Sahara Home Finance Corporation, the two Sahara companies that allegedly raised about Rs 17000 crore through illegal optionally fully convertible debentures.<br /><br />

RBI to wait-and-watch Bitcoin, will not regulate it right away
News & Analysis

RBI to wait-and-watch Bitcoin, will not regulate it right away

Even while the Bitcoin is making governments across the world sit up and take notice, the Reserve Bank of India (RBI) has adopted the wait-and-watch approach

Govt could ban ponzi-scheme ads that offer easy money
Business

Govt could ban ponzi-scheme ads that offer easy money

Faced with a mushrooming ponzi menace across the country, the government is considering a possible ban on promotion of money-collection schemes promising unrealistic returns.

 Govt opts for ordinance route to strengthen Sebi: Pilot
Investing

Govt opts for ordinance route to strengthen Sebi: Pilot

When asked whether the government would come out with an ordinance for implementing the amendments, Pilot replied in the affirmative.