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Shares of Trump Media tumbled on Friday following news that the SEC charged the company’s auditing firm, BF Borgers CPA, for “massive fraud” and systemic non-compliance with critical auditing standards.

corporate affairs ministry has underscored the importance of effective and timely cost audits to curb manipulation by unscrupulous elements, a development that comes amid increasing bids by fraudulent companies to mislead authorities with dodgy information about inventory value or related party sales. In a communication for stakeholders, the ministry said any discrepancies between the inventory value presented in the financial statements of companies and the cost audit report raise red flags, indicating potential misrepresentation of facts. «Companies often overvalue inventory to mislead banks and financial institutions into providing higher credit facilities or loans,» it said. «Similarly, companies understate sales to related parties, resulting in undervaluation to reduce GST (goods and services tax) liability, ultimately causing a loss of revenue for the government.» The ministry said that from detecting discrepancies in inventory valuation to exposing misleading financial statements, the utility of cost audit in investigations extends far beyond the realm of mere cost control. Compliance requirements and data use Section 148 of the Companies Act, 2013, empowers the government to mandate certain classes of companies in 39 industries to maintain cost records. Such companies are required to e-file cost audit reports with the ministry, which are monitored by its Cost Audit Branch.

Enforcement Directorate (ED) has recovered 268 bitcoins coins worth ₹138 crore from a Haldwani resident whose premises were raided last week on the instance of US authorities investigating his alleged involvement in an international drug trafficking group. ET arrested Parvinder Singh last week after it raided his residence in Haldwani, Uttarakhand. ET had reported on April 27 that in a rare instance, ED, while teaming up with the US authorities, carried out a search in Haldwani to assist the US sleuths unravel Singh's involvement in an international drug racket. After Singh's arrest, Parvinder was remanded to ED's custody till May 4. His interrogation led to the recovery of 268 bitcoins worth ₹138 crore, said a senior official on the condition of anonymity.

ANI. She said that this is a matter of investigation. "It is an old habit of the Prime Minister to take credit for any work.

A U.S. law-enforcement probe intoToronto-Dominion Bank’s internal controls is tied to the laundering of hundreds of millions of dollars in proceeds from illegal drug sales, the Wall Street Journal reported. 

Binance founder Changpeng Zhao received a far more lenient prison sentence than anticipated at his Seattle court hearing on Tuesday.

CBI and ED on Friday on former deputy chief minister Manish Sisodia's pleas seeking bail in the corruption and money-laundering cases lodged by the agencies in relation to the alleged excise policy scam. Justice Swarana Kanta Sharma issued notices to the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) on Sisodia's pleas challenging a trial court's April 30 order by which his bail petitions were dismissed. The high court listed the matter for further hearing on May 8. Sisodia's lawyers said an application has also been filed seeking an interim relief for the continuation of the trial court's order allowing him to meet his ailing wife once a week in custody during the pendency of his bail pleas.

Delhi High Court on Friday allowed Aam Aadmi Party (AAP) leader Manish Sisodia to meet his ailing wife once a week under ED, CBI custody. The matter was then deferred to May 8, 2024. Aam Aadmi Party (AAP) leader and former Delhi deputy chief minister Sisodia had moved the court on Thursday challenging the trial court order refusing him bail in the excise policy case being investigated by the Directorate of Enforcement (ED) and Central Bureau of Investigation (CBI).

India Today report, Prajwal Revanna, the grandson of JD(S) patriarch and former Prime Minister HD Deve Gowda, has been named as the sole accused in the FIR. This is the second case filed against the Hassan MP after he fled the country on April 27, reportedly to Germany, soon after the Karnataka government formed an SIT.

Jack Dorsey-led Block announced plans to allocate 10% of profits from its Bitcoin products toward buying more of the cryptocurrency each month, its quarterly report published Thursday showed.

Taarak Mehta Ka Ooltah Chashmah (TMKOC), may have 'planned' his own disappearance and moved out of Delhi, News18 reported quoting Delhi police sources. The actor has been reported missing since April 22 this year, from the locality of the Delhi Airport. The actor left his phone in the Palam area, police sources said, adding, that due to this, the probe to trace Gurucharan Singh has been difficult.

London Drugs says it’s rebuilding its data infrastructure with the help of leading third-party experts to bring its operations safely back online after a cybersecurity incident that has shut down stores for five days.The store says in a statement that there are billions of lines of data and code to review, but its teams have been working around the clock and there is progress.The Richmond, B.C.,-based company has more than 80 stores across B.C.

toddler from Arizona died after the bouncy castle he was playing in was suddenly lifted airborne and carried away by a gust of wind.Bodhi Naaf, the young son of Phoenix firefighter Karl Naaf, died from his injuries after being rushed to a local hospital.Several children were playing in the inflatable castle when “a strong gust of wind sent it airborne into the neighbouring lot,” said the Pinal County Sheriff’s Office, calling the incident a “tragic accident.” A second child was hurt but the injuries were non-life-threatening.“We would like to extend our heartfelt thoughts and prayers to the grieving family,” police added, noting that an investigation into the event is ongoing.A GoFundMe page has been set up to support the two-year-old’s parents as they mourn the loss of their son.Bodhi’s mother Cristy is currently pregnant with the couple’s second child, who is due to be born on May 31.“Amidst their sorrow, they face the daunting task of preparing for the arrival of their newborn,” writes fundraiser organizer Ashley Al-Khouri, a friend of the family.“As a community, we want to offer our support and alleviate the financial burden that accompanies such tragedies. Your donations will help Karl and Cristy focus on grieving their beloved Bodhi while also preparing for the new chapter in their lives.”The GoFundMe has raised just under US$170,000 as of Thursday morning, far exceeding its US$100,000 goal.A week before the fatal incident in Phoenix, a similar situation occurred in California.

Central Bureau of Investigation (CBI) has arrested a deputy general manager posted in the Hariajam Colliery under Eastern Coalfields Limited (ECL) in Dhanbad in connection with an alleged bribery case. It was alleged that Ram Prakash Pandey, DGM of ECL in the Mugma area in Dhanbad demanded a bribe of Rs 75,000 from a 50 per cent handicapped «general mazdoor» to change his duty in the mine. According to the officials, later the labourer approached the CBI with a complaint against Pandey.

Taarak Mehta Ka Ooltah Chashmah' actor Gurucharan Singh, who has been missing for almost two weeks, is suspected to have orchestrated his own disappearance, according to reports. The Delhi Police are actively investigating this perplexing case. The disappearance saga began on the evening of April 22 when Gurucharan Singh, known for his role as Roshan Singh Sodhi on the popular show, was expected to board a flight from Delhi to Mumbai but never did. His father raised concerns and filed a missing person report, stating that Gurucharan had left for Mumbai on April 22 at 8:30 pm but never reached his destination nor returned home, and his phone was unreachable.

Toronto-Dominion Bank, which is in the midst of several probes over its anti-money-laundering controls in the United States, has been hit with a financial penalty of nearly $9.19 million for several instances of non-compliance with Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

Canada’s financial intelligence agency says it has levied a $9.2-million penalty against The Toronto-Dominion Bank for non-compliance with money laundering and terrorist financing measures as the bank also faces compliance investigations in the U.S.

Manpasand Beverages Scam: The capital markets regulator Securities and Exchange Board of India (SEBI) has barred Manpasand Beverages Ltd (MBL) and its top officials and directors from the securities markets for a period of three years from now and also imposed a total penalty of ₹74 lakh for manipulating and mis-reporting the company's financial statements. Apart from MBL, those who restrained by SEBI are -- the promoter, chairman, managing director (CMD) Dhirendra Singh, promoter and executive director Abhishek Singh and chief financial officer (CFO) Paresh Thakkar. Also, these four entities have been fined ₹17 lakh each, which needs to be paid within a period of 45 days, SEBI said in its recently released 55-page order.

The Hollywood blockbuster Titanic is known for many things, including an emotionally charged film set, a ballooning budget and nearly a dozen Oscar wins after it was released in 1997.

SpaceX, the parent company of Starlink, had sent emails last month to customers in various African nations indicating that roaming service would be restricted in regions where it was illegal to operate. Despite this, Adam Mohamed, a resident of El-Fasher in conflict-stricken Sudan, was able to conduct an interview with the wire via a Starlink connection on Wednesday.

Mint takes a closer look at these revelations and their effect on India. Earlier this week the Washington Post published a report providing new details on the Pannun assassination attempt in 2023. Citing unnamed security officials, the report said Vikram Yadav, a RAW official, was responsible for handling the operation to assassinate the Sikh separatist leader on US soil.