In a shocking case of financial fraud, Nimmagadda Vanibala, General Manager of Telangana State Cooperative Apex Bank, was arrested by the Hyderabad Central Crime Station (CCS) police for allegedly embezzling …
Tag:
chit fund scam
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FinancialInvestment Scams
Enforcement Directorate Arrests Prayag Group Promoters in ₹2,800 Crore Chit Fund Scam
by Ananya MehtaThe Enforcement Directorate (ED) has arrested the promoters of M/s Prayag Group of Companies, Basudeb Bagchi and his son Avik Bagchi, in connection with a money laundering case related to …
by Ananya Mehta -
FinancialInvestment Scams
Sai Babu Arrested for Rs 50 Crore Chit Fund Scam in Telangana
by Ananya MehtaSai Babu, the chit fund trader operating under the name Shri Sai Ram Finance, has been arrested for defrauding 1,542 victims out of Rs50 crore. For several years, Sai Babu …
by Ananya Mehta -
FinancialInvestment Scams
Prayag Group Directors Arrested in ₹2,000 Crore Ponzi Scheme by ED
by Ananya MehtaIn a significant development, the Enforcement Directorate (ED) has arrested two directors of the Prayag Group, a West Bengal-based company, in connection with a massive multi-crore chit fund scam. The …
by Ananya Mehta -
FinancialInvestment Scams
Appampally Surya Pratap Reddy Arrested in ₹2.79 Crore Chit Fund Scam
by Ananya MehtaOn Tuesday, the Cyberabad Economic Offences Wing (EOW) apprehended Appampally Surya Pratap Reddy in connection with a major chit fund fraud that defrauded over 80 investors of Rs2.79 crore. The …
by Ananya Mehta -
FinancialInvestment Scams
Jubilee Hills Man Arrested for Murder Linked to Chit Fund Scam
by Ananya MehtaThe Jubilee Hills police arrested a man on Tuesday, October 8, for the murder of a woman in Navodaya Colony, allegedly linked to a chit fund scam. The accused, identified …
by Ananya Mehta