banking fraud
Enforcement Directorate Probes Ex-Yes Bank CEO Rana Kapoor Over Rs 3,300 Crore ADAG Quid Pro Quo Scandal
Dec 15, 2025 06:45 pm CST
Former Yes Bank CEO Rana Kapoor faces Enforcement Directorate questioning regarding alleged quid pro quo deals with Anil Ambani's ADAG companies. The investigation reveals Yes Bank's exposure to ADAG doubled to Rs 13,000 crore within one year, resulting in Rs 3,300 crore losses through potentially improper transactions that benefited Kapoor family businesses.
Belgium's Supreme Court Rejects Mehul Choksi's Appeal Against India's Extradition Request in Rs 13,000 Crore PNB Fraud Case
Dec 10, 2025 02:02 am CST
Belgium's Court of Cassation has rejected fugitive diamond trader Mehul Choksi's appeal against India's extradition request related to the Rs 13,000-crore Punjab National Bank fraud. The ruling upholds the Antwerp Court of Appeal's decision that declared India's extradition request "enforceable," dismissing Choksi's claims of potential unfair trial or mistreatment in India. This development marks a significant step in India's efforts to bring Choksi to justice for allegedly siphoning off Rs 6,400 crore in the massive banking scam.
Court Rejects Mehul Choksi's Plea to Dismiss Fugitive Economic Offender Status in ₹13,000 Crore PNB Fraud Case
Nov 29, 2025 02:51 am CST
A special Mumbai court has rejected diamantaire Mehul Choksi's application to dismiss proceedings classifying him as a Fugitive Economic Offender in the ₹13,000 crore Punjab National Bank fraud case. Despite his recent arrest in Belgium, the Enforcement Directorate successfully argued that FEO proceedings can only terminate when the accused returns to India. Choksi continues to fight extradition while his nephew and co-accused Nirav Modi remains imprisoned in London.
Bengaluru Resident Loses Rs 80 Lakh in Sophisticated Online Trading Scam Through Fake App
Nov 13, 2025 01:49 am CST
A Bengaluru man has fallen victim to an elaborate online trading scam, losing over Rs 80 lakh after being lured through a WhatsApp group into investing in a fraudulent trading app called ACS Trade. Despite transferring funds in multiple installments, the victim received neither returns nor his original investment, highlighting the growing threat of sophisticated digital financial fraud schemes in India.
Former Tech Entrepreneur Charlie Javice Sentenced to 7 Years for $175 Million JPMorgan Fraud
Sep 30, 2025 04:30 pm CST
Charlie Javice, the former founder of financial aid platform Frank, has been sentenced to 85 months in prison for defrauding JPMorgan Chase of $175 million by fabricating millions of user accounts. The 33-year-old entrepreneur sold her company to the banking giant in 2021 before her elaborate scheme was uncovered, leading to her conviction in March on multiple fraud charges.