Investors robbed of $11 mn Bitcoins in four years: Study

Last Updated: Saturday, January 31, 2015, 13:45

Frauds such as online ponzi schemes have skimmed at least $11 million in Bitcoin deposits from unsuspecting cyber customers over the past four years, a study says.

Madoff victims' payout nearing $7.2 billion: Trustee

Last Updated: Tuesday, December 23, 2014, 04:57

Victims of Bernard Madoff`s massive Ponzi scheme will get afresh $322 million payout if a US judge approves the request by the trustee liquidating the convicted fraudster`s firm, bringing the recovery total to more than $7 billion.

Change laws, put cash curbs to check black money menace: SIT

Last Updated: Friday, December 12, 2014, 20:20

The SIT said that making tax evasion of Rs 50 lakh or more a 'predicate offence' would allow necessary action under the Prevention of Money Laundering Act (PMLA).

Madoff trustee loses appeal on clawbacks

Last Updated: Tuesday, December 9, 2014, 10:19

Victims of Bernard Madoff`s Ponzi scheme may recover less money than they had hoped after a federal appeals court limited the ability of the trustee liquidating the swindler`s firm to recoup "fictitious profits" and other payments from customers.

RBI to bring out Charter on consumer rights

Last Updated: Friday, December 5, 2014, 15:55

The RBI is working towards bringing out a charter on consumer rights to curb instances of ponzi and online lottery schemes, a senior Bank official said here on Friday.

JPMorgan to pay over $2 billion to settle Madoff case

Last Updated: Wednesday, January 8, 2014, 00:46

JPMorgan Chase & Co will pay more than USD 2 billion of penalties to settle charges by U.S. federal authorities that it failed to report suspicious activity involving Bernard Madoff`s Ponzi scheme.

Charge-sheet filed in Speak Asia case

Last Updated: Thursday, December 19, 2013, 23:19

Two years after the crime branch of Mumbai Police registered a case in the Rs 2,276 crore Speak Asia scam, police on Thursday filed a charge-sheet.

Fresh anti-ponzi scheme Bill passed in WB Assembly

Last Updated: Thursday, December 12, 2013, 22:00

West Bengal Protection of Interest of Depositors in Financial Establishments Bill, 2013 was passed in the state Assembly, after withdrawing the earlier one following objections from the Centre.