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ED probe into Amber Dalal case uncovers alleged role of over 20 commission agents
Amber Dalal, a Mumbai-based consultant and proprietor of M/s Ritz Consultancy Services, is accused of orchestrating a massive investment fraud, suspected to be a Ponzi scheme. Dalal allegedly raised over ₹600 crore from around 1,300 investors by promising high returns through commodity trading
Published on Apr 28, 2025 07:46 AM IST
Sahara Group case: ED attaches 1,023 acres of land worth ₹1,538 cr
The land was purchased under benami names with funds diverted from Sahara group entities, said ED officials
Published on Apr 24, 2025 07:40 AM IST
Ponzi scam: ED attaches assets worth ₹36.21 cr in Amber Dalal case
The assets recently attached included 10 immovable properties in Mumbai and Kolkata, and movable properties in the form of fixed deposit receipts, shares, mutual funds and investment in alternative funds.
Published on Mar 26, 2025 09:26 AM IST
Ex Pearls Group chief Bhangoo’s son-in-law held in ₹48k-cr fraud case
Harsatinder Pal Singh Hayer was arrested on Friday, and a special Prevention of Money Laundering Act (PMLA) court later sent him to ED custody.
Published on Mar 23, 2025 06:56 AM IST
HT Correspondent, New Delhi
Pearls Group owner’s son-in-law Hayer held in ₹48,000 crore Ponzi scheme
Punjab Agro Company Limited (PACL), a subsidiary of the Pearls Group, and Bhangoo, had allegedly cheated 55 million investors through a network of 2.3 million agents
Published on Mar 22, 2025 04:27 PM IST
Argentina's Milei denies role in 'cryptogate' after 'pay for access' reports
Argentina's Milei denies role in 'cryptogate' after 'pay for access' reports
Updated on Mar 03, 2025 01:16 PM IST
AFP |
PMLA court issues production warrant against hawala operator
A special PMLA court has issued a production warrant against Alpesh Khara, a hawala operator from Charni Road, arrested in connection with the alleged fraud Ponzi scheme run through Torres Jewellery stores, in which thousands of investors were duped of crores of rupees.
Published on Mar 02, 2025 08:20 AM IST
Detention of accused as undertrial for over 6 years violates rights: Orissa HC
The Orissa High Court made the observation while granting bail to a person accused of duping people of over ₹31 crore on Friday
Published on Feb 21, 2025 09:13 PM IST
Debabrata Mohanty
Thousands lose ₹870 crore in ponzi scheme promising high returns
Thousands of Indians lost ₹870 crore in a Ponzi scheme after Falcon Invoice duped them into making short-term investments to get high returns in Telangana.
Updated on Feb 18, 2025 04:53 PM IST
Torres fraud: Tausif Riyaz claims he was neither CEO nor stakeholder
MUMBAI: Tausif Riyaz claims he is a whistleblower in the Torres Jewellery fraud, denying CEO and shareholder roles, as he seeks bail amidst ongoing investigations.
Published on Feb 07, 2025 08:26 AM IST
Torres scam: Court allows ED to question 4 accused
The court directed the superintendents of Byculla and Arthur Road jail to allow the ED officers to question the accused on any five days between February 3 and February 14
Published on Feb 01, 2025 06:14 AM IST
Two fugitives with Interpol Red Notice deported from Thailand, US
The two fugitives facing Interpol Red Notice and wanted in separate cases in Tamil Nadu and Gujarat were arrested after their return from the US and Thailand
Published on Jan 30, 2025 10:27 AM IST
PTI |
ED charge-sheets Amber Dalal in ₹564 cr Ponzi scam
ED initiated its investigation based on a First Information Report (FIR) registered by the Oshiwara police station, on March 15, 2024.
Updated on Jan 29, 2025 09:02 AM IST
What is the ₹1,000 crore Torres Ponzi scheme which scammed 3,700? Details here
Tausif Riyaz, CEO of Torres Jewellery, has been arrested in multi-crore Ponzi scam, and remanded to police custody amid ongoing investigations.
Updated on Jan 26, 2025 05:59 PM IST
Hollywood's 'worst actor' worked with Oscar winners, was jailed for $690M fraud
Zach Avery aka Horwitz was an average actor with limited success and yet amassed a fortune worth $40 million by his own account.
Updated on Jan 15, 2025 07:14 PM IST
Abhimanyu Mathur
Multi-crore Torres investment scam: 1,535 complaints received by Mumbai police so far
MUMBAI: EOW investigates Torres jewellery scam with 1,535 complaints; ₹9 crore seized. Three Ukrainians named as key accused in major Ponzi scheme.
Updated on Jan 12, 2025 06:50 AM IST
Vinay Dalvi
Torres jewellery scam: Accountant alerted police, but action delayed
MUMBAI: After a ₹1,000-crore investment scam, Torres jewellery's accountant exposed fraud but received threats. Police investigate allegations of a Ponzi scheme.
Updated on Jan 09, 2025 08:16 AM IST
Vinay Dalvi
How Torres scammed its investors
Torres Jewellery scam defrauded 1.25 lakh investors with fake schemes, leaving many low-income individuals seeking justice as police investigate.
Updated on Jan 08, 2025 08:46 AM IST
Bhupendrasinh Zala, alleged brain behind Gujarat ponzi scheme, arrested: Police
Bhupendrasinh Zala, who had been on the run for weeks, was arrested from a village in Mehsana district on Friday
Published on Dec 27, 2024 09:16 PM IST
ED seizes ₹1.02 cr cash, documents in Ponzi case searches
The agency claimed that “thousands of people” were cheated in the name of “high-value returns” on their investments or in the name of providing them land and plots in lieu of their investments
Published on Dec 19, 2024 09:26 PM IST
Ritz Consultancy owner Amber Dalal remanded to ED custody
MUMBAI: A special court designated under the Prevention of Money Laundering Act (PMLA) has remanded Amber Dalal, owner of Ritz Consultancy Services, to the Enforcement Directorate (ED) custody for five days, till December 2, in connection with an alleged ₹564-crore investment fraud case
Updated on Nov 29, 2024 07:28 AM IST
ED attaches assets worth ₹22.86 crore in Amber Dalal case
ED has attached assets worth ₹22.86 crore from consultant Amber Dalal, linked to a ₹600 crore Ponzi scheme, amid ongoing investigations.
Updated on Nov 14, 2024 07:04 AM IST
2 on run for 4 years arrested for duping 200 Delhi residents o ₹7crore
The son was arrested from Pune in Maharashtra, and his interrogation led to the arrest of his father from Lucknow in Uttar Pradesh
Updated on Sep 14, 2024 05:34 AM IST
HT Correspondent, New Delhi
Indian man, 23, arrested in Alabama over Ponzi scam worth $4,00,000
Pathyam Patel, of Gujarat’s Gandhinagar, has been accused of starting to sell securities and collecting money after guaranteeing massive returns
Published on Mar 26, 2024 08:21 AM IST
Sumanti Sen
ED attaches Amritsar firms’ properties worth ₹27 crore in bank fraud case
The spokesperson said the ED initiated investigation on the basis of FIRs registered by CBI against the Amritsar-based firms for cheating and committing bank fraud worth ₹185.17 crore
Updated on Mar 01, 2024 07:58 AM IST
HT Correspondent, Jalandhar
Four victims of multi-crore scam abduct CA to recover lost money
Police arrest four individuals who kidnapped a chartered accountant in an attempt to recover money lost in a Ponzi scheme. The accountant had convinced acquaintances and relatives to invest in the fraudulent company. The kidnappers demanded a ransom of ₹5 crore ($710,000). Two of the accused were found with the victim after a five-day search, while the other two were apprehended separately. The four are now in police custody.
Updated on Jan 25, 2024 09:18 AM IST
Payal Gwalani, Mumbai
Despair still shrouds Sahara’s duped investors decades later
The death of Sahara group founder Subrata Roy has left many investors in Uttar Pradesh despondent, as they fear they will never get their money back.
Updated on Nov 16, 2023 09:19 AM IST
Himachal cryptocurrency scam: Meerut engineer made website, was trained in Dubai
Police said that the engineer, who is now believed to be one of the masterminds of the scam, also made several trips to Dubai and was trained there
Updated on Nov 07, 2023 05:22 AM IST
Gaurav Bisht, Shimla
Ponzi scam: Odisha Police arrests India head of Chinese earning app from TN
Law Enforcement Agencies started crackdown against Chinese Loan Apps after many people getting trapped and the government banned many such loan apps.
Published on Aug 18, 2023 06:04 AM IST
ANI | | Posted by Lingamgunta Nirmitha Rao
Rose Valley chit fund case: ED files fresh charge sheet under PMLA
The Rose Valley financial scandal or Rose Valley Chit Fund Scam was a multi-crore financial scam and alleged political scandal involving around ₹17,000 core caused by the collapse of a Ponzi scheme run by Rose Valley Group in West Bengal
Updated on May 25, 2023 06:31 PM IST
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