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bank fraud

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Sterling Biotech Group promoters Sandesara brothers, accused of bank fraud and money laundering, declared fugitive economic offenders

The Sandesara brothers - Nitin and Chetan - along with latter’s wife wife Dipti have been declared fugitives under the Fugitive Economic Offenders (FEO) Act.
Chetan Jayantilal Sandesara(File photo)
Chetan Jayantilal Sandesara(File photo)
Updated on Sep 28, 2020 04:46 PM IST
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Hindustan Times, New Delhi | By hindustantimes.com | Edited by Amit Chaturvedi

CBI books Gujarat firm, promoters for bank fraud of Rs 300 crore

In its four FIRs, the agency has listed four loans in which Central Bank had to face losses of Rs 47 crore and Rs 39 crore while BoI faced losses of Rs 98 crore and Rs 112 crore.
The agency has named AGPL, CEIPL and their promoters Bharatbhai Ratanshi Shah and Fenil Shah among others as accused in its cases.(PTI)
The agency has named AGPL, CEIPL and their promoters Bharatbhai Ratanshi Shah and Fenil Shah among others as accused in its cases.(PTI)
Updated on Jul 09, 2020 01:31 AM IST
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Hindustan Times, New Delhi | By Neeraj Chauhan

Two arrested for Rs 2-crore bank fraud

HT Image
HT Image
Published on Jan 30, 2020 11:30 PM IST
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Hindustan Times, Chandigarh | By HT Correspondent, Chandigarh

Govt sets up board to examine bank frauds of at least Rs 50 crore before agencies step in

The formation of the board was announced in an order issued by the Central Vigilance Commission (CVC) on Wednesday.
Government has constituted a five-member Advisory Board to vet all alleged frauds of a magnitude of at least Rs 50 crore in state-run banks and public financial institutions. (Representative Image)(Getty Images/iStockphoto)
Government has constituted a five-member Advisory Board to vet all alleged frauds of a magnitude of at least Rs 50 crore in state-run banks and public financial institutions. (Representative Image)(Getty Images/iStockphoto)
Updated on Jan 17, 2020 03:29 AM IST
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Hindustan Times, New Delhi | By HT Correspondent, New Delhi

CBI raids in 16 states over bank frauds worth around Rs 7K crore

Maximum searches were reported from Maharashtra, where CBI teams raided 58 locations, followed by Punjab’s 32 locations. In Delhi, 12 locations were searched.
Central Bureau of Investigation (CBI) conducted raids.(PTI Photo)
Central Bureau of Investigation (CBI) conducted raids.(PTI Photo)
Updated on Nov 06, 2019 12:20 AM IST
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Hindustan times, New Delhi | By HT Correspondent

1.5-crore bank fraud: Five land in police net in Ludhiana

56 fake debit cards and 11,000 recovered; 70 victims identified
HT Image
HT Image
Updated on Oct 22, 2019 10:17 PM IST
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Hindustan Times, Ludhiana | By HT Correspondent, Ludhiana

PMC bank’s Joy Thomas is also Junaid Khan, owner of 10 Pune properties: Cop

Joy Thomas had acquired these properties after he changed his name to Junaid Khan, the alias that he had acquired to marry his one-time personal assistant, said a senior police officer
Joy Thomas is one of the four people arrested in the Rs 4,355 crore Punjab and Maharashtra Co-operative (PMC) bank fraud case.(Kunal Patil/ HT Photo)
Joy Thomas is one of the four people arrested in the Rs 4,355 crore Punjab and Maharashtra Co-operative (PMC) bank fraud case.(Kunal Patil/ HT Photo)
Updated on Oct 14, 2019 04:24 PM IST
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Hindustan Times, Mumbai | By HT Correspondent

Bank frauds touch Rs 71, 543 cr in 2018-19, public banks account for most: RBI

In the reporting year, state-run banks reported 3,766 cases of frauds worth Rs 64,509.43 crore as against 2,885 cases involving Rs 38,260.8 crore.
Number of frauds related to advances were predominant followed by card/internet related frauds and deposits related frauds, the RBI report said. (Photo by Aniruddha Chowdhury/Mint)
Number of frauds related to advances were predominant followed by card/internet related frauds and deposits related frauds, the RBI report said. (Photo by Aniruddha Chowdhury/Mint)
Updated on Aug 29, 2019 08:31 PM IST
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Mumbai | By Press Trust of India

‘Purely mala fide action’: Kamal Nath on nephew Ratul Puri’s arrest

Ratul Puri was arrested in connection with a money laundering case concerning an alleged bank fraud of Rs 354 crore, officials familiar with the matter said.
Madhya Pradesh Chief Minister Kamal Nath has said that the arrest of his nephew Ratul Puri is “purely mala fide” action.(ANI Photo)
Madhya Pradesh Chief Minister Kamal Nath has said that the arrest of his nephew Ratul Puri is “purely mala fide” action.(ANI Photo)
Updated on Jun 17, 2020 10:18 PM IST
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New Delhi | By HT Correspondent

STF nabs four in Noida for bank fraud

According to the police, they received a complaint earlier this year from a private bank which stated that the suspects had received loans by opening accounts in the name of non-existent technology companies. Based on the complaint, a probe in the matter was ordered.
Four persons were arrested by the Noida unit of the Special Task Force on Wednesday for allegedly duping private banks on the pretext of taking loans.
Four persons were arrested by the Noida unit of the Special Task Force on Wednesday for allegedly duping private banks on the pretext of taking loans.
Updated on Aug 08, 2019 03:31 AM IST
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Noida | By Tanmayee Tyagi

Indian banks lost Rs 27,000 crore to frauds last year: Finance Ministry

The number highlights the problem facing Indian banks already tacking the issue of looming bad debt and wilful defaulters. Banks themselves flagged the cases of fraud and default.
On Tuesday, the CBI carried out countrywide raids on 16 companies for bank fraud and defaults that cost the exchequer about Rs 1139 crore.(BLOOMBERG NEWS)
On Tuesday, the CBI carried out countrywide raids on 16 companies for bank fraud and defaults that cost the exchequer about Rs 1139 crore.(BLOOMBERG NEWS)
Updated on Jul 04, 2019 11:46 AM IST
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Hindustan Times, New Delhi | By Sudhi Ranjan Sen

CBI books CMD of Fazilka-based food park for Rs 33-cr bank fraud

The raids were part of the CBI’s nation-wide special drive against bank loan frauds during which 50 locations were searched in 18 cities.
The Sector 5 house of Sukhjinder Singh, CMD of Int’l Mega Food Park, that was raided in Chandigarh on Tuesday.(Karun Sharma / HT Photo)
The Sector 5 house of Sukhjinder Singh, CMD of Int’l Mega Food Park, that was raided in Chandigarh on Tuesday.(Karun Sharma / HT Photo)
Published on Jul 03, 2019 02:50 PM IST
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Hindustan Times, Chandigarh | By HT Correspondent, Chandigarh

CBI cracks down on bank loan frauds

The Central Bureau of Investigation (CBI) on Tuesday searched premises of 13 companies and bank officials across the country for alleged bank frauds amounting to 1,139 crore, an agency spokesperson said.
The agency has registered 17 cases including three against bank officials. The banks have brought the frauds to the agency’s notice.(AFP file photo)
The agency has registered 17 cases including three against bank officials. The banks have brought the frauds to the agency’s notice.(AFP file photo)
Updated on Jul 02, 2019 10:33 PM IST
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Hindustan Times, New Delhi | By HT Correspondent and agencies

CBI raids 50 places across 18 cities in drive against banking fraud accused

The agency teams swooped down at 50 locations in 18 different cities in a coordinated action against the promoters and directors of the companies made accused in the cases in 12 states across the country, officials said.
A total of 14 cases have been registered against the accused including various companies/ firms, their promoters/directors and bank officials, the official said. (AFP Photo)
A total of 14 cases have been registered against the accused including various companies/ firms, their promoters/directors and bank officials, the official said. (AFP Photo)
Updated on Jul 02, 2019 12:11 PM IST
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New Delhi | By Press Trust of India

Dino Morea, DJ Aqeel summoned in Sterling Biotech bank fraud case

The actor and the popular disc jockey (DJ) have been asked to depose before the Enforcement Directorate (ED) as it has got evidence that the two were paid some money by the Gujarat-based pharmaceutical group in the past, they said.
File photo of actor Dino Morea. (Picture by @DinoMorea9)
File photo of actor Dino Morea. (Picture by @DinoMorea9)
Updated on Jul 01, 2019 03:04 PM IST
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New Delhi | By Press Trust of India

Swiss accounts of Nirav Modi frozen

The ED, official sources said, made the request to the Swiss authorities sometime back and had also sent an official request under the criminal provisions of the Prevention of Money Laundering Act (PMLA).
The legal team for Modi, led by barrister Jessica Jones, brought to the judge’s attention an issue related to the nearly 5,000-page set of documentation submitted by the UK’s Crown Prosecution Service (CPS) on behalf of the Indian government.(HT Photo)
The legal team for Modi, led by barrister Jessica Jones, brought to the judge’s attention an issue related to the nearly 5,000-page set of documentation submitted by the UK’s Crown Prosecution Service (CPS) on behalf of the Indian government.(HT Photo)
Updated on Jun 27, 2019 11:43 PM IST
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New Delhi | By Press Trust of India

Taminder Virdi among 3 jailed in UK for bank fraud

Essex-based Taminder Virdi is among three individuals sentenced to terms in jail after defrauding elderly bank customers of more than £390,000 and laundering the cash through multiple fake accounts, officials said on Tuesday.
Taminder Virdi(Photo: National Crime Agency)
Taminder Virdi(Photo: National Crime Agency)
Updated on May 07, 2019 09:18 PM IST
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Hindustan Times, London | By Prasun Sonwalkar

Nirav Modi working in UK on 20,000 pounds per month salary, says his lawyer

Modi fled India last year after being accused of having a central role in a $1.8-billion fraud involving Punjab National Bank (PNB), the country’s second-largest public lender.
Nirav Modi owned luxury jewellery stores in several major cities across the world.(Mint File Photo)
Nirav Modi owned luxury jewellery stores in several major cities across the world.(Mint File Photo)
Updated on Mar 20, 2019 10:34 PM IST
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London | By Agence France-Presse

Mehul Choksi anticipated arrest in PNB fraud case, fled country to avoid being held: ED

In a reply filed in a special court last week, the ED also questioned Choksi’s claim that he could not travel to India on health grounds and said that evidence collected so far suggests Choksi had strategically fled the country to avoid arrest.
File photo of fugitive diamond merchant Mehul Choksi(HT File)
File photo of fugitive diamond merchant Mehul Choksi(HT File)
Updated on Jan 23, 2019 09:05 AM IST
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Hindustan Times, Mumbai | By HT Correspondent, Mumbai

Fugitive Nirav Modi located by UK authorities, says government

Replying to a question, minister of state for external affairs V K Singh told Rajya Sabha that National Central Bureau of Manchester conveyed to Indian agencies that their investigations have led to the location of Nirav Modi in the UK.
British authorities have informed India that bank fraud fugitive Nirav Modi is living in the UK, the government has said.(Aniruddha Chowdhury/Mint File Photo)
British authorities have informed India that bank fraud fugitive Nirav Modi is living in the UK, the government has said.(Aniruddha Chowdhury/Mint File Photo)
Published on Dec 29, 2018 09:18 AM IST
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New Delhi | By HT Correspondent

In another setback for Vijay Mallya, court rejects plea to stay ‘fugitive’ proceedings

The development in the Special Prevention of Money Laundering Act (PMLA) Court came a week after the Bombay High Court (on November 22) dismissed a similar appeal filed by Mallya.
Among other things, the former chief of the now-defunct Kingfisher Airlines is wanted for committing alleged bank frauds of Rs 9,000 crore, and is currently holed up in the UK, fighting several cases.(AP)
Among other things, the former chief of the now-defunct Kingfisher Airlines is wanted for committing alleged bank frauds of Rs 9,000 crore, and is currently holed up in the UK, fighting several cases.(AP)
Updated on Nov 29, 2018 10:25 PM IST
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Indo Asian News Service | By Indo Asian News Service

CVC releases list of top 100 bank frauds

The study focused on the methods used by fraudsters, and the loopholes noticed by the CVC, and suggested systematic improvements to avoid such frauds.
The Central Vigilance Commission (CVC) on Tuesday released a first-of-its-kind analysis of the top 100 banking frauds and said it had shared its findings with the Reserve Bank of India (RBI) and department of financial services to plug loopholes observed by the Commission.(Bloomberg File Photo)
The Central Vigilance Commission (CVC) on Tuesday released a first-of-its-kind analysis of the top 100 banking frauds and said it had shared its findings with the Reserve Bank of India (RBI) and department of financial services to plug loopholes observed by the Commission.(Bloomberg File Photo)
Updated on Oct 17, 2018 08:35 AM IST
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Hindustan Times, New Delhi | By HT Correspondent

Ex-Trump aide Manafort agrees to cooperate with Mueller, pleads guilty

Paul Manafort is already looking at between eight and 12 years in jail for his conviction of bank fraud, tax evasion and financial irregularities in a case tried by a federal court in Virginia state.
Paul Manafort, the former chairman of Donald Trump’s presidential campaign, will cooperate with special counsel Robert Mueller’s probe of alleged Russian meddling in the 2016 election as part of a plea agreement, prosecutors said on Friday.(Reuters Photo)
Paul Manafort, the former chairman of Donald Trump’s presidential campaign, will cooperate with special counsel Robert Mueller’s probe of alleged Russian meddling in the 2016 election as part of a plea agreement, prosecutors said on Friday.(Reuters Photo)
Updated on Sep 15, 2018 03:19 PM IST
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Hindustan Times, Washington | By HT Correspondent

Nirav Modi bank fraud case: Sleuths caught in legal tangle

Hemant Bhatt, an employee of Nirav Modi, was charged by the CBI in the case along with retired PNB employees Gokulnath Shetty and Bishnubrata Mishra.
A suspect in the alleged bank fraud carried out by jeweller Nirav Modi has approached a court saying his trial should be discontinued because the agency does not have the sanction to prosecute two retired Punjab National Bank (PNB) employees together with whom he has been charged.(HT Photo)
A suspect in the alleged bank fraud carried out by jeweller Nirav Modi has approached a court saying his trial should be discontinued because the agency does not have the sanction to prosecute two retired Punjab National Bank (PNB) employees together with whom he has been charged.(HT Photo)
Updated on Sep 07, 2018 11:55 PM IST
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Hindustan Times, New Delhi | By Rajesh Ahuja

Father-son luxury car dealers suspected of bank fraud, allegedly pose as wedding guests to flee India

The two men, who are being investigated for bank fraud, were caught at the airport 30 minutes before their flight was scheduled to take off for UK. The men claimed they were on their way to Birmingham for a relative’s wedding.
Mandhir Singh Todd(HT Photo)
Mandhir Singh Todd(HT Photo)
Updated on Sep 03, 2018 10:20 PM IST
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Hindustan Times, New Delhi | By HT Correspondent

Nirav Modi’s bank fraud fueled by FedEx’d gems: Report

Billionaire jeweller Nirav Modi’s companies involved in fraudlent transactions called round-tripping, says US bankruptcy examiner.
Nirav Modi at his office in Lower Parel, in Mumbai , in August 2016, two years before his fall.(Aniruddha Chowdhury/Mint)
Nirav Modi at his office in Lower Parel, in Mumbai , in August 2016, two years before his fall.(Aniruddha Chowdhury/Mint)
Updated on Aug 31, 2018 07:38 AM IST
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Bloomberg | By Josh Saul

Trump says he’s considering pardon for Paul Manafort; White House denies wrongdoing after Michael Cohen’s plea deal

Paul Manafort was convicted on Tuesday of two counts of bank fraud, five counts of tax fraud and one charge of failing to disclose foreign bank accounts.
The White House pushed back forcefully on Wednesday against suggestions that a plea deal struck by President Donald Trump’s former lawyer Michael Cohen implicated Trump in a crime.(Bloomberg)
The White House pushed back forcefully on Wednesday against suggestions that a plea deal struck by President Donald Trump’s former lawyer Michael Cohen implicated Trump in a crime.(Bloomberg)
Updated on Aug 23, 2018 11:32 PM IST
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Washington | By Reuters

15,000 transactions in 7 hrs: Cosmos Bank’s server hacked, Rs 94 cr moved to Hong Kong

The servers of India’s second largest cooperative bank were hacked on August 11 and August 13. The cybercriminals carried out 15,000 transactions
The servers of India’s second largest cooperative bank, Cosmos Bank. were hacked on August 11 and August 13. The cybercriminals carried out 15,000 transactions to siphon off Rs 94 crore.(Bloomberg file photo)
The servers of India’s second largest cooperative bank, Cosmos Bank. were hacked on August 11 and August 13. The cybercriminals carried out 15,000 transactions to siphon off Rs 94 crore.(Bloomberg file photo)
Updated on Aug 14, 2018 09:34 PM IST
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Hindustan Times, Pune | By Nadeem Inamdar

India submits request to Antigua for extradition of Mehul Choksi

Choksi had fled India on January 4 this year and took oath of allegiance in Antigua on January 15.
File photo of Mehul Choksi at Mahalaxmi Race Course in Mumbai.(HT Photo)
File photo of Mehul Choksi at Mahalaxmi Race Course in Mumbai.(HT Photo)
Updated on Aug 05, 2018 11:53 PM IST
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New Delhi | By Press Trust of India

Vijay Mallya sends feelers, wants to come back to India and face the law: Officials

Vijay Mallya, who is contesting in a London court the Indian government’s action for extradition, is said to have sent feelers to authorities that he would like to join the legal process in India and contest the recent action against him under the Fugitive Economic Offenders Ordinance.
The Enforcement Directorate is seeking action against Vijay Mallya in a Rs 9,000 crore bank fraud case.(AP File Photo)
The Enforcement Directorate is seeking action against Vijay Mallya in a Rs 9,000 crore bank fraud case.(AP File Photo)
Updated on Jul 25, 2018 04:57 PM IST
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Press Trust of India, New Delhi | By Press Trust of India, New Delhi
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