Investigations Financial News

Karnataka High Court on Wednesday dismissed a petition filed by the Union Bank of India (UBI) seeking a CBI probe into the case of diversion of funds from the Karnataka Maharshi Valmiki ST Development Corporation. A group of people allegedly committed fraud on the bank and siphoned off the funds, allocated to the Valmiki Corporation for the welfare of scheduled tribe members, between February 21 and May 6 this year. The alleged fraud came to light only on May 24, after the corporation managing director wrote to UBI’s MG Road branch asking it to restore the funds debited to its account as it had not authorized any of the transactions that took place over this period. In its complaint to the CBI, the bank said it had been able to recover Rs 5 crore while Rs 84.63 crore remained unrecovered from the recipients of funds from illegal transfers.

A company says two employees have died following an explosion at a Louisville, Kentucky, factory that caused a partial collapse of the building and blew out windows in nearby homes and businesses

Subscribe to enjoy similar stories. Jack Teixeira, a former Massachusetts Air National Guardsman, was sentenced Tuesday to 15 years in prison over an extraordinary leak of highly classified intelligence documents that sent the U.S. government rushing to protect its secrets.

child modeling scam that defrauded at least 197 people, Delhi Police reported. The scam, operating under the name ‘Lotus Star Kids’, promised modeling opportunities and brand deals for children. According to a TOI report, the scam came to light after a woman from Dwarka, who lost Rs 5 lakh in the scheme, filed a police complaint. She had responded to an advertisement on Facebook, leading her to a Telegram group where the fraudsters operated.

Subscribe to enjoy similar stories. New Delhi: India’s hunt for the perpetrators of multiple bombing threats that significantly disrupted the domestic aviation and hospitality sectors has hit a roadblock in Europe, where most of the hoax calls are said to have been made through virtual private networks.

New Delhi: S.P. Oswal’s ordeal began on the afternoon of 27 August, with an innocuous phone call. It was a pre-recorded message from someone claiming to be from the Telecom Regulatory Authority of India (Trai). Just out of hospital after battling an illness, the unsuspecting 82-year-old Oswal, chairperson of the Ludhiana-based Vardhman Group, pressed 9 when prompted. That keypress was a standard screening procedure by scamsters to ascertain the gullibility of their victims—Oswal, a Padma Bhushan awardee, instantly became a target.

Apple was notified by the European Union that its geo-blocking practices are potentially in breach of consumer protection rules, adding to the iPhone maker's regulatory issues in the bloc. Apple's App Store, iTunes Store and other media services unlawfully discriminate against European customers based on their place of residence, according to a European Commission statement on Tuesday.

Dynuz reported that the approach of Donald Trump is characterized by a desire for revenge, fueled by past impeachments and legal challenges he faced during his previous term. Additionally, his allies also anticipate a wave of retaliatory actions which will be including congressional investigations and potential prosecutions targeting political adversaries. Also Read: Kamala Harris smiles with a glass of wine and plays with her niece's daughters after she lost U.S elections to Trump

Flipkart, Amazon, Swiggy and Zomato, and has reportedly found them to have violated competition law. Reactions to CCI's preliminary probe reports are premature. It's crucial to understand that CCI's investigation reports are only preliminary findings, based on an investigation conducted by DG. These reports are not CCI's final decision, nor binding on anyone. DG's investigation is one step in a lengthy quasi-judicial process that will culminate in a final decision by CCI. One needs to contextualise DG's investigation within CCI's overall decision-making process.

LCC Infotech and its promoters — Kirti Lakhotia, Sidharth and Pratik Lakhotia — for misrepresenting the financial statements of the company. The regulator levied a penalty of Rs 6 lakh on LCC Infotech and a Rs 1 lakh fine each on Kirti Lakhotia (Chairperson and MD), Sidharth Lakhotia (CEO), Pratik Lakhotia, Kamaljit Singh, Rajat Sharma and Mayur P Shah. In a 39-page order, Sebi found that LCC misrepresented its financial statements for FY 2021-22 by not making provisions/impairment on loans, debtors and investments as per applicable accounting standards and did not make certain disclosures about related party transactions in the annual report for the FY 2019-20, FY 2020-21 and FY 2021-22.

Danish police are closing the investigation into the devastating fire that destroyed more than half of Copenhagen’s Old Stock Exchange

Italian authorities say they have dismantled a network of European art forgers who made fake Warhols, Banksys and Picassos and then tried to sell them with the help of complicit auction houses

A former Hong Kong reporter of The Wall Street Journal says she'll sue the publication for sacking her because she joined a trade union

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online scam while trying to book transportation in Udupi, Karnataka, losing a substantial sum of Rs 4.1 lakh. Desperately seeking a car rental service, the man turned to Google, where he clicked on a link supposedly for “Shakti Car Rentals.” According to local reports, the man unknowingly entered his bank details on a fraudulent car rental website that appeared in Google search results, leading to unauthorized transactions on his accounts, a TOI report stated.

Supreme Court on Monday stayed a Calcutta High Court's order directing a CBI probe into the alleged torture of a woman in police custody after her arrest over protests against the rape and murder of a doctor of R G Kar Medical College and Hospital. A bench of Justices Surya Kant and Ujjal Bhuyan asked the West Bengal government to submit a list of seven IPS officers, including five women, who could be included in a fresh Special Investigation Team (SIT) for probing the custodial torture case. The order was passed on an appeal filed by the West Bengal government which had stated the high court had erroneously passed the order directing a CBI probe and the state police was capable of the investigation. On November 6, a division bench of the Calcutta High Court upheld an order of a single judge directing a CBI investigation into the allegations levelled by the woman.

U.S. auto safety regulators are investigating complaints that engines can fail on as many as 1.4 million Honda and Acura vehicles

The probe by the National Highway Traffic Safety Administration covers the 2016 through 2020 Honda Pilot and Acura MDX, as well as the 2018 through 2020 Honda Odyssey and Acura TLX. Also included is the 2017 through 2019 Honda Ridgeline. The agency says in documents posted on its website Monday that connecting rod bearings on vehicles with 3.5-liter V6 engines can fail, leading to complete engine failure. Connecting rods link the pistons to the crankshaft and convert vertical motion to move the wheels.

Global News has obtained new details about the mysterious Toronto-area man who was quietly convicted in Canada’s biggest-ever fake toonies case.

The searches led to the recovery of incriminating documents showing detailed banking transactions, digital devices including mobile phones, and other evidence related to terror funding activities, the statement issued by the NIA said. As per NIA investigations, the suspects whose premises were raided are sympathisers of a Bangladesh-based Al-Qaida network.

Prajwal Revanna in rape and sexual harassment case. The former MP has been remanded to Special Investigation Team (SIT) custody until June 24 by a Karnataka court on Wednesday, a day after he had been sent to judicial custody under separate charges. The special investigation team (SIT) is investigating four cases of sexual assault against Revanna and filed a chargesheet before the Bengaluru court that hears cases against elected representatives.