Kolkata, Oct 27: Trinamool Congress MP Ahmad Hassan Imran, the blue-eyed boy of West Bengal Chief Minister Mamata Banerjee, is under scanner of Government agencies for his role in Saradha chit fund scam.   The Enforcement Directorate (ED) has recently interrogated Ahmed Hassan for the second time in connection with multi-crore Saradha scam. The agency was trying to f...Read More

Kolkata: With politics in West Bengal gradually becoming polarised between the ruling Trinamool Congress and the BJP, a section of Congress leaders in the state have called for unification of secular forces to stop "communal politics".

Veteran Congress leader Abdul Mannan said that there was a strong need for checkmating "communal politics" of...Read More

The much hyped CBI probe into the Odisha chit fund scam appears to be beating around the bush.   Firstly, the CBI team inquiring into the chit fund scam in Odisha appears stuck with some of the fringe and minor players. Even while probing the financial fraud by the Artha Tatwa (AT) Group, the Central investigating agency has stopped short of rounding up ruling party ...Read More

The chit fund scam in Odisha has tarnished the image of the entire cooperative movement in the state. Most of the cooperative bodies including the Odisha state cooperative union the highest cooperative body in the state are under the scanner of the CBI investigating the chit fund scandal.

The CBI has already interrogated several leading cooperators. The investiga...Read More

SEOUL, Oct. 27 (Yonhap) -- Two men have been arrested on charges of duping hundreds of people into investing in a land lot near the skating and hockey venue of the 2018 Winter Olympics with the promise of high returns, police said Monday.

The duo -- a 39-year-old surnamed Kwon and a 38-year-old surnamed Lee -- are suspected of bilking 614 investors of 6.8 billion...Read More

NPQ has previously written about the responses of nonprofits to “clawbacks” of contributions made with the proceeds of Ponzi schemes. There have been any number of such case, and, in a way, it is perhaps more understandable when a direct services organizations sues to keep such money—but what about the Tiger Woods Foundation?

A week and a half a...Read More

The conspiracy and mail-fraud convictions of Ian Campbell Gent and James F. Lagona, both linked to the former M-One Financial and Watermark Financial Services Group of Amherst, were upheld by the U.S. Court of Appeals for the 2nd Circuit in New York City, the Buffalo-based U.S. Attorney’s Office of the Western District of New York announced Monday.

The appe...Read More

There's been a lot of drama lately at the School for Creative and Performing Arts, and it's not on the stage.

This plot involves financial turmoil, a Ponzi scheme, a state investigation and a federal trial. Hundreds of thousands of dollars disappeared, the school's fundraising arm disbanded and the school nearly had to cancel its performance schedule ...Read More

Moneycontrol Bureau   In what would be only the second instance since the Satyam Computers scam broke out in 2009, the government is considering superseding the board of Financial Technologies India Limited (FTIL) , the listed parent firm of scandal-tainted National Spot Exchange Limited (NSEL), according to a report in the Indian Express this morni...Read More

AHMEDABAD : After allegedly netting Rs 380 crore through a ponzi scheme, Abhay Gandhi sought temporary bail from Gujarat high court for providing financial assistance to his family.

Gandhi sought bail for a couple of weeks to manage finances for his family members who, according to him, are passing through critical times. Justice A J Desai, however, turned down G...Read More