FINANCIAL FRAUD CASES
Relief for Adani brothers in alleged Rs 388 crore stock market manipulation case as Bombay HC overturns 5-year-old ruling
The Bombay High Court has overturned a prior ruling against Gautam and Rajesh Adani related to a Rs 388 crore stock market manipulation case. Justice RN Ladha asserted that the revisional court overstepped its jurisdiction, emphasizing that such matters fall under Sebi's regulatory purview.
Up to code: Softserv Solutions is changing the game for Indian IT subcontractors
IT entrepreneur Manoj Pipersania has big dreams for his micro enterprise. The 2023 ET MSME Awards nominee talks about his journey from ATM configurations to bagging some of the biggest international clients, and what makes him tick outside of work
HC discharges Gautam Adani, Rajesh Adani in market regulations 'violation' case
The Bombay High Court on Monday discharged Adani Enterprises Ltd, group Chairman Gautam Adani and MD Rajesh Adani from a case of alleged violations of market regulations involving Rs 388 crore, saying no case of cheating or criminal conspiracy was made out.
Faster fraud prevention; BluSmart on Uber’s radar
Happy Monday! Major Indian banks and payment companies are speeding up their response to payment fraud by integrating their systems with the I4C. This and more in today’s ETtech Morning Dispatch.
In a divorce case in Supreme Court, wife gets a flat near Mumbai without paying any stamp duty for transfer
Divorce: On February 28, 2025 a husband won a divorce case in the Suprme Court without having to pay any alimony to wife. But the Supreme Court ordered the husband to give up all his rights of the Godrej flat near Mumbai & also held that for this transfer of flat, the wife must not pay any stamp duty as per Section 17(2)(vi). Read below to know why.
Two major Social Security changes set to impact millions of beneficiaries — Here’s how
With recent developments, experts urge beneficiaries to stay informed about their rights and options under Social Security’s evolving rules.
Social security recipients in US could get $495 check under new proposal? Check details
Will social security recipients in US get $495 check under new proposal? The Senior Citizens League has been advocating for the payment, saying it would help recipients following a lower-than-expected Cost of Living Adjustment (COLA) in 2026. This comes after Donald Trump ally and DOGE chief Elon Musk called social security "the biggest Ponzi scheme of all time."
Caught in the web: How a doctor lost Rs 4.5 crore in the rising digital arrest scam
Dr. Mehra fell victim to a digital arrest scam when scammers posing as law enforcement officers coerced her into transferring Rs 4.5 crore for 'verification'. Such scams are on the rise, with the NCRP recording a massive increase in cases and financial losses. Authorities, including PM Modi, are urging vigilance against these fraudulent activities.
Yes Bank-DHFL case: Court refuses to take cognisance of chargesheet against Goenka, Balwa
A special court has refused to take cognisance of a CBI supplementary chargesheet naming businessmen Vinod Goenka and Shahid Balwa in the DHFL-Yes Bank fraud case, citing lack of evidence of their intent to cheat. The court also ordered the cancellation of Lookout Circulars against them, noting the loan had been repaid prior to the chargesheet filing.
Wall Street goes all in on great crypto comeback fueled by Trump
Once dismissed by Wall Street, crypto has gained mainstream legitimacy with Trump’s strategic Bitcoin reserve. At the Futures Industry Conference, finance and crypto executives converged, symbolizing a shift in sentiment as institutional players deepen their involvement in digital assets.
Get bonus for verifying your policy number and KYC details; LIC warns customers against such cyber fraud tactics
LIC: Life Insurance Corporation of India (LIC) has issued a public notice warning its customers about an ongoing fraud in its name. LIC cautions to not share your policy number and be tempted by any exaggerated promises for any monetary benefit. Also, Shiram Life Insurance has issued a similar public notice cautioning about such cyber scams.
Hyderabad cops prevent Rs 2 crore loss in WhatsApp scam before fraudsters could withdraw the money
The Telangana Cyber Security Bureau (TGCSB) swiftly intervened to prevent a cyber fraud of Rs 1.95 crore targeting a Hyderabad-based company. A fraudulent transfer was initiated via a disguised WhatsApp message. Timely coordination with bank officials ensured the funds were secured.
ED detects 'unaccounted' cash deals worth Rs 1,000 crore in TASMAC operations in Tamil Nadu
The Enforcement Directorate uncovered multiple irregularities in TASMAC's operations, including manipulated tender processes and unaccounted cash transactions worth Rs 1,000 crore. The investigation revealed corrupt practices such as inflated expenses and bogus purchases, involving collusion between distilleries and bottling companies.
Bones, hair & Rs 1,500 crore fraud: Mumbai’s famous Lilavati Hospital trustees make shocking black magic claim before Holi
A scandal of staggering proportions has rocked Mumbai’s Lilavati Hospital, with its trustees alleging a massive Rs 1,500 crore fraud by former administrators. The accusations go beyond financial misconduct—claims of black magic, human remains, and occult rituals on the hospital’s premises add a sinister twist. A forensic audit has revealed large-scale fund misappropriation, prompting multiple FIRs and a plea for an Enforcement Directorate probe.
'One of biggest sources of fraud': DOGE chief Elon Musk explains why his team targeted USAID
DOGE chief Elon Musk has revealed why his team targeted United States Agency for International Development (USAID), which provided humanitarian aid to more than 100 countries. Musk said his team saw that tremendous amount of money was being sent to NGOs but it was actually a 'scam'. USAID was established in the early 1960s.
Govt says cyber fraud cases jumped over four-fold in FY24, caused $20 million losses
Affordable data packs in the world's most populous country, starting as low as 11 rupees ($0.13) per hour, have increased internet access and created a $1 trillion mobile payments market for firms such as Paytm, Google Pay and Walmart-backed PhonePe.
Corrupt HR manager made whopping Rs 20 crore by firing workers but keeping them on payroll
A tech firm in Shanghai was embroiled in a financial scandal involving 22 fictitious employees. An HR manager secretly kept these 'employees' on the payroll for eight years, embezzling around Rs 20 crore. The fraud was exposed in 2022, leading to his conviction and a sentence of over 10 years in prison.
Trump's DOGE: Where the Musk effort is restricted and where it's not
Elon Musk’s Department of Government Efficiency project faces multiple lawsuits over access to Americans' personal and financial data. Federal judges have restricted access at Treasury, Education, and the Office of Personnel Management. Over 110 lawsuits challenge DOGE's transparency and Musk’s role, alongside deep spending cuts and workforce reductions across various US agencies.
Bombay HC extends stay on filing of FIR against ex-SEBI chief Madhabi Puri Buch & officials
The Bombay High Court stayed a special court's order directing the registration of an FIR against former SEBI Chairperson Madhabi Puri Buch and other officials over alleged irregularities in the 1994 listing of Cals Refineries on the BSE. The case involves claims of procedural lapses and market manipulation. Buch, who faced various allegations during her tenure, denied the accusations.
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