Investigations Financial News

Enforcement Directorate (ED) has turned its focus on funding from the US Agency for International Development (USAID) amid an ongoing investigation tied to investor and philantropist George Soros, TOI has reported. This scrutiny comes as the Trump administration has time and again criticized USAID for allegedly promoting a «left, liberal and woke» agenda abroad. The ED is currently investigating three Bengaluru-based companies for purported violations of the Foreign Exchange Management Act, specifically regarding the receipt of Rs 25 crore from the Soros Economic Development Fund (SEDF). Among these companies, ASAR Social Impact Advisors has also been noted for receiving Rs 8 crore from USAID as foreign inward remittance during FY23. The central agency is particularly interested in understanding the motives and purposes behind the payments made by USAID. Notably, the Open Society Foundations was categorized under the 'prior reference category' by the home ministry in 2016 due to concerns over «undesirable activities.» This classification mandates that it must obtain prior approval from the ministry before contributing funds to any Indian non-profit organization.

The notices, which target individuals with little to no financial capacity, expose a troubling pattern of fraud involving stolen Aadhaar and PAN card details. Among the most cases reported so far is that of Karan Kumar, a 34-year-old sanitation worker who earns a modest Rs 15,000 per month at the State Bank of India’s Khair branch. On March 29, Karan received an Income Tax notice demanding an outrageous sum of Rs 33.88 crore. This demand, based on transactions carried out using his identity, came as a complete shock. According to Karan, Mahaveer Enterprises, a company dealing in petroleum and steel goods, had been using a forged PAN and Aadhaar card linked to his name for large-scale transactions in Delhi.

Karnataka police apprehended a six-member gang responsible for the daring robbery at the Nyamati branch of the State Bank of India (SBI) in Davangere, from which 17.7 kg of gold was stolen. The heist, which took place on October 28, 2024, had left authorities puzzled for months. However, a series of coordinated operations and cross-state investigations led to the breakthrough. The stolen gold was recovered from a well in Usalampatti town in Tamil Nadu's Madurai district, a crucial find that brought the investigation one step closer to unmasking the perpetrators. According to the police, the suspects have been identified as Vijaykumar (30), his brother Ajaykumar (28), Abhisheka (23), Chandru (23), Manjunath (32), and Paramananda (30). The group comprised both locals from Nyamati and individuals with ties to Tamil Nadu. «Vijaykumar and Ajaykumar are brothers, while Paramananda is their brother-in-law. All three are originally from Tamil Nadu but have lived in Nyamati, where they ran a sweets business for many years,» the police revealed. The other three accused—Abhisheka, Chandru, and Manjunath—hail from Nyamati, a small town in Karnataka.

Police closed Hastings Road, which lies between between Skeet and Eltham roads following the crash. According to Te Kura o Nga Ruahine Rangi school administrator Patsy Broughton, students from Years 11 to 13 were travelling to attend a sporting event at another school when their van collided with the car. While most of those injured suffered minor cuts, bruises and concussion, at least four people are reported to be serious. While two of the seriously injured were airlifted to Waikato Hospital, the others were taken by air to Whanganui Hospital. Another nine injured were taken by road to the medical centres with three being admitted to Whanganui Hospital while the other six were sent to the Taranaki Hospital.

Supreme Court of India on Tuesday indicated that it would consider a petition filed by Ranveer Allahbadia, a popular YouTuber and entrepreneur, seeking the release of his passport. The top court, however, added that it would take up the matter after two weeks, in light of the ongoing investigation into the case. Allahbadia had approached the Supreme Court requesting a modification of the condition imposed on him, which required him to deposit his passport with authorities. His legal team argued that the condition was affecting his livelihood and professional commitments, as he frequently travels for business and work-related purposes. In response to Allahbadia’s plea, Solicitor General Tushar Mehta informed the apex court that the investigation in the case involving Allahbadia was likely to be completed within two weeks. He further stated that the authorities were actively working on the case, which has raised several concerns in the media.

stock market fraud and regulatory violations. The HC last month granted the interim stay on the special court's order, noting it was passed mechanically and no specific role was attributed to the accused. On Tuesday, Justice Shivkumar Dige noted that the original complainant in the case has filed an affidavit and granted time to Buch and others to go through the same. «The interim relief granted earlier shall continue until further orders,» Justice Dige said, posting the matter for further hearing on May 7. Last month, Buch, three current whole-time directors of the Securities and Exchange Board of India (Sebi) Ashwani Bhatia, Ananth Narayan G and Kamlesh Chandra Varshney, Bombay Stock Exchange's Managing Director and Chief Executive Officer Sundararaman Ramamurthy and BSE's former chairman and public interest director Pramod Agarwal moved the HC against the special court order.

Christine Hunsicker has resigned from her position as chief executive officer of CaaStle after the fashion-technology startup’s board of directors alleged she misrepresented the company’s performance to investors, according to a March 29 letter to shareholders seen by Bloomberg News. CaaStle faces “a severe and immediate liquidity problem,” and the board is considering options including a possible wind down, liquidation or strategic transaction, according to the letter. The company is planning a two-week-long furlough for its employees. Law enforcement authorities are also investigating the matter and the company is cooperating, the letter said. Hunsicker didn’t respond to calls and emails seeking comment.

Monalisa, was taken into custody in Ghaziabad on March 30, 2024. He was later brought to Nabi Karim Police Station in Delhi for further legal proceedings.

The chief executive of Primark, one of Europe’s biggest fast fashion retailers, has resigned after an investigation into his behavior toward a woman in a social environment

Global High Wealth unit, has seen a significant 38% loss in its workforce this year. This dramatic reduction follows the Trump administration’s efforts to shrink the federal workforce, according to recent data from the International Consortium of Investigative Journalists (ICIJ). Before these cuts, the office employed 353 people, but now it is down to just 220 employees. This decrease in staff is substantially higher than the overall loss rate at the IRS, which has impacted the unit’s ability to effectively audit the wealthiest Americans.

independent investigation into a Signal group chat where top Trump administration officials, including Defense Secretary Pete Hegseth and National Security Adviser Mike Waltz, shared sensitive military details about planned strikes in Yemen. The chat, which inadvertently included *The Atlantic*’s editor-in-chief Jeffrey Goldberg, has sparked bipartisan alarm over national security protocols. While Democrats demand resignations, Republicans like Sen. James Lankford (R-Okla.) argue an inquiry is “entirely appropriate” but stop short of calling for dismissals, calling such demands “overkill.”

Marine Le Pen guilty on Monday of misappropriating EU funds and the sentencing expected shortly could see her barred from the 2027 presidential race, upending politics in France. Le Pen, head of the far-right National Rally (RN), is the front-runner in opinion polls ahead of the 2027 vote. Prosecutors had asked that Le Pen face an immediate five-year ban from public office if found guilty, regardless of any appeal process, using a so-called «provisional execution» measure. Judges can adopt, modify or ignore the prosecutors' request. An automatic five-year ban would hammer Le Pen, 56, a three-time presidential contender who has said 2027 will be her final run for top office. She would retain her parliamentary seat until the end of her mandate. Le Pen, who did not speak to reporters as she arrived in court, has accused prosecutors of seeking her «political death», alleging a plot to keep the RN from power that echoes claims made by U.S. President Donald Trump about his legal woes.

fraud began when he responded to a social media advertisement and contacted the number provided. The scammers assured him substantial payments but demanded registration fees. They continued collecting money until the businessman stopped paying, a TOI report stated.

Subscribe to enjoy similar stories. ABOARD THE HNLMS LUYMES—Belgian Navy Commander Erik Kockx was patrolling the Baltic Sea recently when he got word that a ship on NATO’s watchlist was acting in a suspicious manner. After leaving a Russian port, it had slowed down while passing near a pipeline on the sea bottom.

Athos Salomé, a self-proclaimed psychic known as the ‘Living Nostradamus,’ has issued a warning about the possibility of World War III. The 38-year-old from Brazil believes recent global developments suggest an approaching major conflict. He pointed to sabotage and hybrid warfare as potential triggers, reported Mirror.

Subscribe to enjoy similar stories. In an industry known for controlling narratives, Indian advertising is now grappling with one it can’t spin. Just days before the Indian Premier League (IPL) kicked off—India’s single biggest ad moment of the year—the Competition Commission of India (CCI) launched a sweeping investigation into the heart of the media-buying ecosystem.

IndusInd Bank has done multiple deals with peer banks, transferring highly rated corporate loans in an attempt to shore up liquidity amid a likely flight of deposits, following the ongoing investigation into accounting lapses that could erode its net worth by ₹2,000 crore, said people familiar with the matter. ICICI Bank and Federal Bank have provided liquidity support to IndusInd by acquiring highly rated loans at an interest rate of 7.5-8% through the traditional Inter-Bank Participation Certificate (IBPC) market, they said.

Khyber Pakhtunkhwa province of the country. The «counter-terrorism operation» on Saturday morning targeted hideouts of terrorists in the remote hilltop area of Katlang in the Mardan district, the provincial government said in a press note. It confirmed the civilian casualties and suggested that women and children might be among the victims. Later, official reports said 12 terrorists were killed during the operation. The press note, issued on Saturday, said the operation was based on «credible intelligence» about armed militants using the location as a hideout and transit point. It said «several high-value targets linked to ongoing militant activities in the region» were killed in the operation. «Unfortunately, subsequent reports have confirmed the presence of non-combatants, including women and children, at the periphery of the target zone, resulting in tragic civilian casualties,» the press note stated. Chief Minister of Khyber Pakhtunkhwa Province Ali Amin Gandapur said the death of civilians during the operation was highly condemnable and tragic.

Lalu Prasad Yadav on Saturday urged the Rouse Avenue Court in New Delhi to discharge him in the IRCTC corruption case, asserting that there is no evidence to frame charges against him. Special judge Vishal Gogne heard the arguments on framing of charges in the IRCTC corruption case and has scheduled for April 21 for hearing the further arguments. Senior advocate Maninder Singh, counsel for Lalu Prasad Yadav, argued that there are no irregularities on the part of Lalu Prasad Yadav. The tenders were awarded in a fair manner. There is no sufficient evidences to frame charges against Lalu Prasad Yadav. He deserved to be discharged of the charges. On March 1, the Central Bureau of Investigation (CBI) had concluded its arguments on charges against former Railway Minister Lalu Prasad Yadav, Rabri Devi, RJD leader Tejaswi Yadav and other accused persons. This case is related to alleged corruption in tender of the IRCTC hotels. Special Public Prosecutor (SPP) D P Singh, along with Advocate Manu Mishra, had argued that there was corruption and conspiracy in the allotment of maintenance contracts for two hotels of IRCTC to a private company.

Steve Bannon, former adviser to President Trump, issued a stark warning during a recent interview, claiming Trump could face prison time if a Democrat wins the White House in 2028. Bannon argued that the political stakes are dire, framing the current climate as “political warfare” and urging supporters to recognize the urgency of the moment. His comments reflect growing tensions over Trump’s legal vulnerabilities and the potential fallout of another partisan shift in power.