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17 ArticlesFrauds

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Suckered: Bank Of Baroda Sees a 375 Cr. Fraud And Quietly Takes The Hit, But Who is the Company That Frauded Them?

Bank of Baroda has an interesting footnote in the Sep 2015 results: Wow, you think. 375 crores! That’s a lot of moolah to lose in one fraud. But ...

Nov 18, 2015

Sellers Also Jump In To Fraud Flipkart As ECommerce Sites Face Another Set of Ingenious Scams

Flipkart just got gypped by a vendor: “Ramesh Kumar would order items using fake addresses.Flipkart would pass the order to him. Ramesh would pack cheap ...

Nov 18, 2015

Black Money Laundered Through Bank of Baroda’s Delhi Branch, Dummy Imports Worth 6,000 cr. Found

Bank of Baroda’s officials in their Ashok Vihar (Delhi) branch seem to be doing something really shady. More than 6,000 cr. was found to have been ...

Oct 14, 2015

A Venture Capitalist Who Insider-Traded the Apollo Cooper Deal, Also Stole $65 Million By VC Fraud

In strange occurances in the VC world, WSJ has an incredible story: A boyish 43 years old, Iftikar Ahmed ticked every box of the immigrant success story, going ...

Oct 09, 2015

Keeping it Real: RBI Forces Banks to Take Full Losses When Fraud Discovered

RBI has decided to haul banks up on frauds. Banks are now required to provision the entire amount due to the bank if it is discovered that there is a fraud, ...

Apr 04, 2015

AAP and Congress Accused of Accepting "Dirty" Money, as Government Steps Up Action Against Laundering

After the destruction of the BJP in the Delhi elections, here’s an interesting move by the government: Income Tax Department, Ministry of Finance, ...

Feb 12, 2015

Sahara Gets Its Dose of Irony, Its Rescuer Mirach was just a Mirage

This Sahara thing is totally funny now. So Sahara Chief Subroto Roy has been cooling his heels in jail for the better part of a year now. Because the courts ...

Feb 10, 2015

The NSEL-FT Forced Merger Is Not About Piercing Limited Liability. It's About Fraud.

Too many articles have come out decrying the order by the Government to merge FT and NSEL. They all quote the same thing – FT was just an investor and ...

Oct 23, 2014

BNP Paribas Fined $8.9 Billion for Illegal Money Deals

A brilliant story by Jessica Silver-Greenberg and Ben Protess at the NYT, on how a grieving father of a daughter who died in a suicide bombing attack in Gaza, ...

Jul 03, 2014

Saradha Continues to Haunt Depositors

Bloomberg has an awesome piece on the Saradha scam: Sudipta Sen was on the run when police arrested him on April 23 at Hotel Snow Land, a resort with views of ...

Jan 09, 2014

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