Fraud case Financial News

Judge revokes bail for FTX founder Sam Bankman-Fried, says crypto mogul tampered with witnesses in his fraud case

Delhi High Court (HC) granted interim relief to Maharashtra politician, Ratnakar Gutte, declaring his accounts as ‘fraud’ by banks. The HC has asked Punjab National Bank (PNB) and UCO bank to file their say in the matter.

The US Department of Justice (DOJ) has requested six to eight weeks to gather evidence for its case against Alex Mashinsky, the founder and former CEO of cryptocurrency lender Celsius. 

Olivier Amar, a former executive at the educational assistance startup Frank, has been indicted and charged with involvement in defrauding JPMorgan Chase. Court documents reveal that Amar, who served as the company’s chief growth officer, is facing federal counts of wire fraud, bank fraud, securities fraud, and conspiracy. These charges have been added to the existing case against Frank’s founder, Charlie Javice.

CBI court here on Saturday set aside a magistrate's order taking of cognisance of the chargesheet filed against fugitive diamantaire Mehul Choksi in a loan fraud case amounting to more than Rs 22 crore. The special judge remanded matter back to the magistrate for a fresh order on consideration of the chargesheet.

Dheeraj Wadhawan, promoter of now non-existent Dewan Housing Finance Ltd (DHFL), who has been arrested in a case pertaining to alleged fraud at Yes Bank. Special CBI court Judge M G Deshpande rejected Dheeraj Wadhawan's medical bail plea, but allowed him to undergo treatment at a private hospital for a heart-related ailment.

New Delhi:  The Central Bureau of Investigation (CBI) today said it arrested the Chairman and Managing Director (CMD) of Tirupati Infraprojects Pvt. Ltd, Jag Mohan Garg, in a bank fraud case amounting to  ₹289.15 crore to a consortium of banks, the agency said in a statement.   The Investigation agency registered a case on 25 May 2022 against the said private company, its CMD, Directors, Guarantors and public & private persons on a complaint filed by the consortium of banks led by Bank of India, Union Bank of India, Canara Bank, Bank of Baroda & UCO Bank.  The agency in the statement added that the consortium of said banks led by Bank of India had granted Term Loan of ₹300 crore to the borrower company between year 2009 and 2014 for construction of a Hotel in Paschim Vihar, New Delhi, alongwith commercial spaces.

Union Bank of India of ₹91.92 crore. The probe agency registered the case after a complaint was filed by the Pune branch of the bank against the private company, its directors – Kalyan J.

CBI’s appeal against the Bombay High Court order granting interim bail to Videocon Group chairman Venugopal Dhoot. As per the CBI, ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.

₹1.53 crore on income of ₹3.42 crore received by the family-held trusts that owned a south Mumbai flat, according to the CBI. According to the English daily Economic Times, the probe agency told the special CBI court that payment was made after a preliminary inquiry (PE) was kicked off against Kochhar and her husband Deepak. The south Mumbai flat and a loan of ₹64 crore are the two instances of alleged "bribery" claimed by CBI in its probe that Deepak Kochhar received in 2016.

A record-breaking $3.4 billion penalty has been handed down by a Judge in a lawsuit brought by a United States financial regulator involving a fraudulent scheme involving Bitcoin (BTC).

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Sam Bankman-Fried is expected on Tuesday to enter a plea of not guilty to criminal charges that he cheated investors and looted billions of dollars at his now-bankrupt FTX cryptocurrency exchange, according to a source familiar with the matter.

Credit Suisse said 24 October it reached a €238m settlement with French prosecutors over a case involving tax fraud, moving forward from another legal case as it pursues a painful reputational rehabilitation.

The District of Columbia attorney general sued Michael Saylor, the founder and chairman of software intelligence firm MicroStrategy, alleging he dodged more than $25m in district taxes.

 

The United States Commodity Futures Trading Commission, or CFTC, has taken enforcement action against a South African national in what the regulatory body called its “largest fraudulent scheme involving Bitcoin.”

Switzerland’s former ‘banker of the year’ has been jailed after a fraud trial revealed he used company expenses for strip clubs, Tinder dates, holidays and dinners.

Switzerland’s former ‘banker of the year’ has been jailed after a fraud trial revealed he used company expenses for strip clubs, Tinder dates, holidays and dinners.

A Bermuda court said Credit Suisse must pay billionaire Bidzina Ivanishvili about $555m for allowing a private banker to steal from the former Georgia prime minister and mismanage his money.

A Bermuda court said Credit Suisse must pay billionaire Bidzina Ivanishvili about $555m for allowing a private banker to steal from the former Georgia prime minister and mismanage his money.