Corporate Funds Fraud
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Probe Finds No Financial Fraud At Byju's But Cites Lapses In Corporate Governance
Embattled edtech firm Byju's did not siphon off funds or manipulated accounts, a year-long investigation by the government has found. However, the company did go through lapses in its corporate governance structure, the government added.
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10 Things To Know About Latest Amendments To Insolvency And Bankruptcy Code (IBC)
The Union cabinet, chaired by Prime Minister Narendra Modi, on Wednesday cleared amendments to the Insolvency and Bankruptcy Code (IBC) to ease the insolvency resolution process and promote ease of doing business. Aimed at streamlining of the insolvency resolution process, the IBC Amendment Bill seeks to protect last-mile funding and boost investme...
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Former UP Power Official Arrested In 2,600 Crore Fraud Case
Former managing director of Uttar Pradesh Power Corporation Limited AP Mishra was arrested on Tuesday in connection with the investment of over Rs 2,600 crore of the state power employees' provident fund in scam-hit housing finance firm DHFL.
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In Gurgaon Land Fraud Case, Revenue Officials, Builders Among Accused
Fourteen builders, six sub registrars, including current District Revenue Officer (DRO) of Gurugram, were named by Manesar Police in Haryana in a cheating case involving land registration procedure, misappropriation of government funds and misuse of power under Prevention of Corruption Act, police said on Thursday.
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78 Companies Vanish After Raising Funds; 17 In Gujarat
Vanishing companies are those that fail to file documents and balance sheets after raising funds through public issues and are untraceable.
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Pearls Group's Bhangoo, Others Sent to 10-day CBI Custody
Pearls Group CMD Nirmal Singh Bhangoo and three others, arrested in connection with alleged swindling of Rs 45,000 crore from over five crore investors, were on Saturday remanded to 10-day CBI custody by a Delhi court.
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PACL Promoter Approaches Tribunal Against Sebi's Recovery Order
Facing heat from multiple agencies in the country's biggest illegal fund-mobilisation case involving nearly Rs 60,000 crore, PACL's Nirmal Singh Bhangoo on Wednesday approached the Securities Appellate Tribunal (SAT) against Sebi's recovery proceedings to collect funds due to investors.
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Bitcoin CEO Spent Embezzled Funds on Prostitutes: Reports
Tokyo police said they had arrested France-born Mark Karpeles, 30, for moving 20 million yen ($166,000) in client money to his bank account, as he faces fraud allegations over the disappearance of hundreds-of-millions-of-dollars-worth of the virtual currency.
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SFIO Report on Kingfisher Airlines At Least 6 Months Away: Report
The Serious Fraud Investigation Office (SFIO) is expected to take at least six months to complete its investigation into alleged fund diversions by the now defunct Kingfisher Airlines to other Vijay Mallya group companies.
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Indian-Origin CFO of Aphelion Absolved of Fraud Charges in US
George Palathinkal, 53, a citizen of Singapore, served as a General Partner, Chief Financial Officer, and Chief Compliance Officer of Aphelion Fund Management from March, 2013 through June, 2014.
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Global giant KKR red-flags bribery, fraud risks in India
KKR (Kohlberg Kravis Roberts) is a leading global investment firm managing assets worth over $94 billion (nearly Rs 6 lakh crore). It specialises in leveraged buyouts globally. It has made significant investments in India as well through various funds and entities.
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Decades-long ties to Madoff cost JPMorgan $2.6 billion
Even as the bank cut its exposure to Madoff's fund to minimize its losses it what ended up being a $17.3 billion Ponzi scheme, JPMorgan never shared its doubts with U.S. authorities, government prosecutors said.
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Insider trading conviction of Galleon's Rajaratnam stands
Rajaratnam, 56, is serving an 11-year prison term following his May 2011 conviction by a Manhattan federal jury on nine counts of securities fraud and five counts of conspiracy.
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Corporate Affairs Ministry announces Serious Fraud Investigation Office inquiry into all chit funds
Amid a growing controversy over the alleged defrauding of investors by Kolkata-based Saradha Group, the Corporate Affairs Ministry today announced that all chit funds that are non-compliant with markets regulator SEBI will be investigated by the Serious Fraud Investigation Office.
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Satyam settles Aberdeen, other claims in accounting fraud
The company has signed a confidentiality agreement with the claimants and paid $68 million to fully settle them, Satyam said in a statement on Thursday. Aberdeen and the funds had sought damages of about $298.3 million in a British court, it said.
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Probe Finds No Financial Fraud At Byju's But Cites Lapses In Corporate Governance
Embattled edtech firm Byju's did not siphon off funds or manipulated accounts, a year-long investigation by the government has found. However, the company did go through lapses in its corporate governance structure, the government added.
-
10 Things To Know About Latest Amendments To Insolvency And Bankruptcy Code (IBC)
The Union cabinet, chaired by Prime Minister Narendra Modi, on Wednesday cleared amendments to the Insolvency and Bankruptcy Code (IBC) to ease the insolvency resolution process and promote ease of doing business. Aimed at streamlining of the insolvency resolution process, the IBC Amendment Bill seeks to protect last-mile funding and boost investme...
-
Former UP Power Official Arrested In 2,600 Crore Fraud Case
Former managing director of Uttar Pradesh Power Corporation Limited AP Mishra was arrested on Tuesday in connection with the investment of over Rs 2,600 crore of the state power employees' provident fund in scam-hit housing finance firm DHFL.
-
In Gurgaon Land Fraud Case, Revenue Officials, Builders Among Accused
Fourteen builders, six sub registrars, including current District Revenue Officer (DRO) of Gurugram, were named by Manesar Police in Haryana in a cheating case involving land registration procedure, misappropriation of government funds and misuse of power under Prevention of Corruption Act, police said on Thursday.
-
78 Companies Vanish After Raising Funds; 17 In Gujarat
Vanishing companies are those that fail to file documents and balance sheets after raising funds through public issues and are untraceable.
-
Pearls Group's Bhangoo, Others Sent to 10-day CBI Custody
Pearls Group CMD Nirmal Singh Bhangoo and three others, arrested in connection with alleged swindling of Rs 45,000 crore from over five crore investors, were on Saturday remanded to 10-day CBI custody by a Delhi court.
-
PACL Promoter Approaches Tribunal Against Sebi's Recovery Order
Facing heat from multiple agencies in the country's biggest illegal fund-mobilisation case involving nearly Rs 60,000 crore, PACL's Nirmal Singh Bhangoo on Wednesday approached the Securities Appellate Tribunal (SAT) against Sebi's recovery proceedings to collect funds due to investors.
-
Bitcoin CEO Spent Embezzled Funds on Prostitutes: Reports
Tokyo police said they had arrested France-born Mark Karpeles, 30, for moving 20 million yen ($166,000) in client money to his bank account, as he faces fraud allegations over the disappearance of hundreds-of-millions-of-dollars-worth of the virtual currency.
-
SFIO Report on Kingfisher Airlines At Least 6 Months Away: Report
The Serious Fraud Investigation Office (SFIO) is expected to take at least six months to complete its investigation into alleged fund diversions by the now defunct Kingfisher Airlines to other Vijay Mallya group companies.
-
Indian-Origin CFO of Aphelion Absolved of Fraud Charges in US
George Palathinkal, 53, a citizen of Singapore, served as a General Partner, Chief Financial Officer, and Chief Compliance Officer of Aphelion Fund Management from March, 2013 through June, 2014.
-
Global giant KKR red-flags bribery, fraud risks in India
KKR (Kohlberg Kravis Roberts) is a leading global investment firm managing assets worth over $94 billion (nearly Rs 6 lakh crore). It specialises in leveraged buyouts globally. It has made significant investments in India as well through various funds and entities.
-
Decades-long ties to Madoff cost JPMorgan $2.6 billion
Even as the bank cut its exposure to Madoff's fund to minimize its losses it what ended up being a $17.3 billion Ponzi scheme, JPMorgan never shared its doubts with U.S. authorities, government prosecutors said.
-
Insider trading conviction of Galleon's Rajaratnam stands
Rajaratnam, 56, is serving an 11-year prison term following his May 2011 conviction by a Manhattan federal jury on nine counts of securities fraud and five counts of conspiracy.
-
Corporate Affairs Ministry announces Serious Fraud Investigation Office inquiry into all chit funds
Amid a growing controversy over the alleged defrauding of investors by Kolkata-based Saradha Group, the Corporate Affairs Ministry today announced that all chit funds that are non-compliant with markets regulator SEBI will be investigated by the Serious Fraud Investigation Office.
-
Satyam settles Aberdeen, other claims in accounting fraud
The company has signed a confidentiality agreement with the claimants and paid $68 million to fully settle them, Satyam said in a statement on Thursday. Aberdeen and the funds had sought damages of about $298.3 million in a British court, it said.
