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Nature of the scam. The scam involved misappropriation of approximately ₹ 94 crore (about US$12 million) by the corporation. [3] The funds were illegally transferred from the corporation's accounts at the Union Bank of India MG Road branch to multiple accounts, some of which were linked to fictitious entities.
Nirav Deepak Modi (born 27 February 1971) is an Indian-born Belgian businessman and criminal who was charged by Interpol and the Government of India for criminal conspiracy, criminal breach of trust, cheating and dishonesty including delivery of property, corruption, money laundering, fraud, embezzlement and breach of contract in August 2018. [3]
The Serious Fraud Investigation Office ( SFIO) is a statutory agency in India tasked with investigating corporate fraud. It operates under the Ministry of Corporate Affairs, Government of India, with the mandate of detecting and prosecuting or recommending prosecution for white-collar crimes. The SFIO is a multi-disciplinary organization ...
v. t. e. The 1992 Indian stock market scam was a market manipulation carried out by Harshad Shantilal Mehta with other bankers and politicians on the Bombay Stock Exchange. The scam caused significant disruption to the stock market of India, defrauding investors of over ten million USD. Techniques used by Mehta involved having corrupt officials ...
Website. www .unionbankonline .co .in. Union Bank of India, commonly referred to as Union Bank , is an Indian public sector bank headquartered in Mumbai. It has 153+ million customers and a total business of Rs.19,84,842 crores. [ 8 ] After the merging with Corporation Bank and Andhra Bank, which came into effect on 1 April 2020, the merged ...
t. e. The Central Bureau of Investigation ( CBI) is the domestic crime investigating agency of India. [ 4][ 5] It operates under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions. Originally set up to investigate bribery and governmental corruption, in 1965 it received expanded jurisdiction to investigate breaches of ...
2014. Aavin scam - Ten-year adulteration of milk supplied from societies of the Tamil Nadu State Milk Union, estimated at ₹ 27 lakh per day. [99] The owner of the truck was arrested in Chennai. [100] [101] Siliguri Jalpaiguri Development Authority scam, West Bengal (₹200 crore) [102]
A Georgia couple recently was scammed out of $20,000. Their credit union advises customers to inform themselves to avoid becoming a victim.