A former Lincoln County school teacher was sentenced Tuesday to four years in prison for a Ponzi scheme that defrauded investors of more than $1 million.

Carl David Wright, 54, of Iron Station also must serve three years of supervised release after his prison term ends and pay $817,975 restitution to his victim investors.

Prosecutors said Wright ...Read More

A good judge of a person's character is how well they respond to difficult but good advice.

Europe, as a whole, and the UK in particular got that kind of advice almost 25 years ago. Then-Prime Minister Margaret Thatcher warned everyone who would listen about the dangerous economic perils that would come along with a unified Europe. It meant everything to her ...Read More

Police have arrested three Chinese suspects accused of masterminding Ponzi schemes worth 9 billion baht in China and Malaysia.   Police chief Somyot Phumphanmuang on Tuesday announced the arrests of Chong Mee Chew, also known by the Thai name of Supachai Rujathorn; Keng Lean Pao, also known as Surin Sophonsukson; and Wang Wen Fan, also known as Pachaowchew Saeyang. T...Read More

GEORGE TOWN: Chinese national Zhang Jian, the self-proclaimed “future richest man”, has been arrested in Thailand.

He was arrested by Thai police over a pyramid scheme that reportedly duped people in China and Malaysia out of 6 billion baht (RM600mil) and 3 billion baht (RM300mil) respectively.

According to The Nation, police are look...Read More

Bhubaneswar: The special CBI court on Monday permitted CBI to take CMD of Nabadiganta Capital Services Anjan Kumar Baliarsingh and two directors of the company- Kartikeya Parida and Pradeep Patnaik on a 6-day remand. However, CBI had prayed before the court for a remand of 10 days.

The CBI had arrested CMD of Nabadiganta Capital Services Anjan Kumar Baliarsingh a...Read More

The Trinamool Congress' official Twitter handle threw up something rather unusual yesterday evening - a series of tweets on the Tata Group, all of them singing praises for the company and applauding the spectacular relationship the state government shares with it. Now that Narendra Modi has praised Shashi Tharoor and your faith in the existence of miracles has been restored, ...Read More

BHUBANESWAR: A local court here today allowed the Enforcement Directorate (ED) to take Seashore Group CMD Prasant Dash to its remand for 14 days to trace the money trail in the multi-crore chitfund scam in Odisha.

The District and Sessions Court judge D P Choudhury accepted ED's petition and allowed the investigating agency to take Dash to remand. Dash's ...Read More

BANGALOR: As the international job market and World Wide Web continues to expand, it only makes sense that individuals looking for meaningful and lucrative work have more job options outside the nine-to-five schedule.

But if you’re not sure where to start in terms of finding an awesome position, it could just remain as a dream and not reality. So as the wor...Read More

The chit fund scam in Orissa has claimed a victim in the most unlikeliest of places with noted bilingual writer and Sahitya Akademi fellow Manoj Das returning the remuneration that he received from one of the chit fund firms for a literary venture. After revelations about his receiving Rs 10 lakh as remuneration from chit fund firm Seashore Group over running a Odia magazine for ...Read More

Cuttack/Bhubaneswar, Oct. 27: State crime branch today arrested Khirod Chandra Mallick, managing director of Credible Micro-finance Limited, for allegedly duping depositors of over Rs 5 crore.

Mallick also happens to be the brother of the former minister and ruling BJD MLA Pramila Mallick.

Incidentally, Khirod was partly responsible for Pramila l...Read More