» Ponzi schemes News

Ponzi schemes

Parliament clears bill to check ponzi schemes

Parliament clears bill to check ponzi schemes

Mon, Jul 29, 2019

Aiming to curb the menace of ponzi schemes and protect gullible investors, Parliament has passed the Banning of Unregulated Deposit Schemes Bill, 2019. The Rajya Sabha on Monday passed the bill with a voice vote. 

More >
Big setback for chit funds, ponzi schemes as Modi Cabinet approves this amendment

Big setback for chit funds, ponzi schemes as Modi Cabinet approves this amendment

Thu, Feb 07, 2019

The Banning of Unregulated Deposit Schemes Bill, 2018 was introduced in Parliament on July 18, 2018 and was referred to the Standing Committee on Finance. 

More >
Mumbai Ponzi scam: Premium restaurant owner OP Goenka arrested; assets attached

Mumbai Ponzi scam: Premium restaurant owner OP Goenka arrested; assets attached

Thu, Jun 14, 2018

Thousands of investors who put their money into two Mumbai-based Ponzi schemes Royal Twinkle Star Club and Citrus Check Inns Ltd have reasons to cheer after the Maharashtra government attached 47 properties of the company in Maharashtra and Karnataka.   

More >
Fixed deposits, PPF, MF: 5 tips to follow before you invest in any scheme

Fixed deposits, PPF, MF: 5 tips to follow before you invest in any scheme

Mon, Apr 23, 2018

Time and again, people fall for ponzi schemes due to their ignorance, greed and probably the lost out feeling.

More >
Govt cautions people against risk of investing in virtual currencies

Govt cautions people against risk of investing in virtual currencies

Fri, Dec 29, 2017

"There is a real and heightened risk of investment bubble of the type seen in ponzi schemes which can result in sudden and prolonged crash exposing investors, especially retail consumers losing their hard-earned money," said the statement. 

More >
Ponzi schemes: SFIO lens on 63 firms this financial year

Ponzi schemes: SFIO lens on 63 firms this financial year

Mon, Dec 25, 2017

This translates to an average of 7 companies being referred for investigations per month

More >