Ponzi & Pyramid Schemes

9+ hour, 7+ min ago   (250+ words) A 33-year-old Chinese mainland man has been arrested for defrauding a couple out of 321,077 yuan (370,000 patacas) in a bogus currency exchange deal, Judiciary Police (PJ) spokesman Lei Chi Hou said during a regular press conference yesterday. According to Lei, the…...

54+ min ago   (228+ words) SAMBALPUR: Two businessmen from Gujarat were arrested from Sambalpur for allegedly defrauding a staggering Rs 1,000 crore from investors in two states by floating a ponzi scheme. A Gujarat police team picked up the two - Dhabal Govindbhai Patel (39) and Hiren Mukeshbhai…...

1+ hour, 3+ min ago   (369+ words) ROURKELA: The Cyber Crime and Economic Offences police in Sundargarh has arrested a couple for their alleged involvement in duping a town resident of Rs 1.26 crore in an investment fraud. The accused Abinash Grahacharya (42) and his wife Indulekha Ojha (40) belong…...

9+ hour, 40+ min ago   (910+ words) An Army officer posted in Jhansi has allegedly lost ₹21.52 lakh in just two months after fraudsters drew him into WhatsApp investment groups and showed him rising profits on what police suspect was a fake trading platform. The officer, identified in…...

5+ hour, 25+ min ago   (188+ words) Patch Manassas Man Gets 33 Months In Prison For Multi-Million Dollar Fraud Scheme Prosecutors said the man defrauded dozens of people through a fake internet shopping business. MANASSAS, VA – A Manassas man has been sentenced to nearly three years in prison…...

4+ hour, 47+ min ago   (115+ words) ALBANY, N.Y. (WRGB) — A man convicted of tax and wire fraud in Warren County is headed to prison. He also must pay back more than $1.2 million in restitution. Michael Conner, 58, was sentenced to 10 years in prison and three years of supervised…...

7+ hour, 15+ min ago   (793+ words) A Hong Kong man in his 70s has lost more than HK$13 million ($1.67 million) after a self-described cryptocurrency investment expert contacted him through WhatsApp and directed him to a fake trading app. Hong Kong police said the case was among more…...

8+ hour, 24+ min ago   (351+ words) SMYRNA, Ga. — A Georgia financial adviser who defrauded an elderly client out of nearly $10 million will spend more than seven years in federal prison. Ejiroghene O. Okuma, 44, of Smyrna, was sentenced September 11 to seven years and four months in prison,…...

8+ hour, 1+ min ago   (353+ words) SMYRNA, Ga. - A former Smyrna financial adviser will spend more than seven years in federal prison after stealing nearly $10 million from an elderly client to buy a multi-million-dollar home, a luxury club membership, and fund personal expenses. Ejiroghene O. Okuma, 44, was…...

22+ hour, 59+ min ago   (331+ words) A Vadodara-based pharmaceutical entrepreneur has alleged that he was cheated of shares worth around ₹16 crore after being promised a takeover of a US-based pharma company. Padra police have registered a complaint against four people, including three NRIs originally from Kheda…...