Fraud case Financial News

ED said that Agicha was arrested on November 10 and he was sent to agency's custody for three days by a Mumbai Special court. The ED probe had found that loan amount was illegally diverted by way of fictitious Inland Letters of Credit, bogus unsecured loans and commissions to related entities along with other methods. «In this case 9 searches had already been conducted by ED in Mumbai, Ahemedabad, Kandla and Pune and Ramchand Kotumal Issrani, Managing Director of AHPTPL was earlier arrested by ED on August 8 and currently he is in judicial custody,» the ED said. The ED had filed a chargesheet on October 4.

By Jack Queen

NEW YORK (Reuters) -The judge overseeing the New York civil fraud case against former U.S. President Donald Trump on Friday issued a gag order barring all lawyers from making public statements about the judge's communications with his staff.

Mumbai: The Enforcement Directorate (ED) on Tuesday filed a chargesheet against Jet Airways founder Naresh Goyal and five others in the alleged fraud of ₹538 crore at the Canara Bank. Goyal was arrested by the ED on September 1 under the Prevention of Money Laundering Act (PMLA). He is currently in judicial custody and lodged at the Arthur Road jail here.

Donald J Trump, Ivanka Trump was denied from testifying in the New York civil fraud case worth $250 million by Judge Arthur Engoro. Engoron firmly rejected her arguments, emphasizing that she had «clearly availed herself of the privilege of doing business in New York». The judge has given the judgement based on Ivanka Trump's documents that show Trump still has property and business ties in New York. On the decision of the Judge, her lawyers argued that Ivvana no longer lives in New York and stepped down from her role at the Trump Organization in 2017. Recently, the former President has been embroiled in a court case for inflating the value of his assets on financial statements to boost the appearance of his net worth.

₹80 crore IPO fraud case. The ED arrested Nirmal Kotecha, Pavan Kuchana and Kishore Tapadia under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 on October 11.

Splashy advertising featuring football star Tom Brady and comedian Larry David was shown to jurors as prosecutors launched a historic fraud case against cryptocurrency maven Sam Bankman-Fried

Authorities in Hong Kong and Macau have recently revealed arrests connected to the JPEX crypto exchange fraud case and highlighted that they are currently tracking down several other suspected figures.

In a case that is being closely watched by the financial sector, the civil fraud trial against former President Donald Trump regarding allegations of exaggerated property valuations could commence as early as Monday. An appeal by Trump to postpone the trial was dismissed by a New York appeals court earlier Thursday.

Hong Kong regulators are looking to tighten the noose around the crypto market after the arrest of six individuals following allegations of fraud around an unlicensed crypto exchange called JPEX.

₹3,847.58 crore fraud case. It also conducted searches at four locations in Mumbai and booked then CMD Kishore Krishnarao Avarsekar in the case, officials said on Monday. CBI came into action after a complaint was filed by the State Bank of India, one of the consortium members which alleged that the fraud took place at its commercial branch in Mumbai.

Jet Airways founder Naresh Goyal, who was sent to 14-day judicial custody in a ₹538 crore bank fraud case, should have taken a timely decision to bring inequity before it was too late. He also said that the government must always save the airline because of jobs and infrastructure, according to a report published by the news agency ANI. Speaking to media persons, Gopinath said, “He (Naresh Goyal) had made the country proud as an airline, but unfortunately, I think he should have sensed that the problem was coming and taken a timely decision to bring inequity before it was too late." “But I think the governments must always save the airline.

Jet Airways founder Naresh Goyal on Thursday sent to 14-day judicial custody in a ₹538 bank fraud case, news agency PTI reported. The Enforcement Directorate (ED) arrested Goyal on 1 September under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office in Mumbai.

Karl Greenwood, the co-founder of infamous crypto scam OneCoin, has been sentenced to 20 years in prison by a New York judge.

Enforcement Directorate on Friday said it has attached three land parcels worth more than Rs 161 crore as part of an ongoing money laundering probe linked to a case of «land grabbing and fraud» in Jharkhand. The ED also filed a fresh charge sheet in the case. The federal agency has summoned Jharkhand Chief Minister Hemant Soren for questioning in this case twice but he has not appeared before it and is understood to have filed a petition before the Supreme Court against the ED action. Soren is understood to have been issued fresh summons for next week.

₹10 crores. Also read: Rajasthan vendor lodges FIR against 4B Network's Rahul Yadav alleging fraud: Report The Mumbai Police's Economic Offences Wing (EOW) previously filed a First Information Report (FIR) in this case and issued a look-out notice for Yadav and Saini. The complaint, filed by Omprakash Nowal of Interspace, alleges that the accused engaged his firm to install billboards in Pune.

Enforcement Directorate (ED) at his residence in Thrissur as "pre-planned," news agency PTI reported. "The ED officials searched the entire premises. My bank account details, as well as those of my wife and daughter, were examined.

CBI) has conducted searches at the office of GTL Infrastructure Ltd (GTIL) in Mumbai after registering an FIR against it and unidentified officials of banks in a loan-fraud case of more than Rs 4,000 crore, officials said on Tuesday. The officials of 13 banks are under the agency's scanner for allegedly assigning Rs 3,224 crore dues of the company to an asset reconstruction firm for Rs 1,867 crore without attempting to secure their loans from collateral securities, they said. They were part of the negotiations related to the outstanding loans of GTIL, the officials said. The banks are Union Bank of India, Central Bank of India, Indian Overseas Bank, Bank of Baroda, ICICI Bank, Punjab National Bank, Oriental Bank of Commerce, Andhra Bank, Bank of India, axis Bank, State Bank of India, United Bank of India and Dena Bank, they said. The Central Bureau of Investigation (CBI) registered the case after a preliminary inquiry in which it surfaced that GTIL, promoted by Manoj Tirodkar, was engaged in the «business of passive telecom infrastructure sites capable of hosting multiple service providers», according to the FIR. The officials said the searches were conducted at the company's office in Navi Mumbai recently.

₹10 crore, the Mumbai Police's Economic Offences Wing (EOW) registered an FIR against 4B Networks Pvt Ltd company's senior official Rahul Yadav and Sanjay Saini. The complaint was filed by Rajasthan-based Vikas Om Prakas Noval. Vikas is the director of Interspace Communication Private Limited, the EOW official told PTI.

The U.S. Securities and Exchange Commission (SEC) has obtained a temporary asset freeze, restraining order, and other emergency relief against Digital Licensing Inc., a Utah-based entity operating as «DEBT Box,» along with its four principals and 13 other defendants. The action is in connection with an alleged fraudulent scheme involving the sale of crypto asset securities, as announced in a press release dated July 28, 2023.

UBS will pay U.S. authorities $1.44 billion to settle the last lingering legal case over Wall Street’s role in the housing bubble of the early 2000s, which ultimately led to the 2008 financial crisis and Great Recession