shell companies
Exposed: Rs 40 Crore IPO Scam Operation Uncovered by ED in Mumbai with 400 Fake Bank Accounts
Nov 04, 2025 11:12 pm CST
The Enforcement Directorate has uncovered a massive Rs 40 crore IPO scam in Mumbai involving Varanium Cloud Ltd. The company fraudulently raised funds claiming to build digital learning centers but instead diverted money through a complex network of over 400 mule bank accounts and 200 SIM cards. The sophisticated "pump and dump" scheme used false promises, forged documents, and shell companies to artificially inflate stock prices before dumping shares, causing significant losses to genuine investors.
CBI Reveals Yes Bank's Rs 2,700 Crore Loss from Fraudulent Transactions with Anil Ambani's Companies
Oct 30, 2025 01:55 am CST
The CBI has filed a charge sheet detailing how Yes Bank suffered a Rs 2,796.77 crore loss due to Rana Kapoor's unilateral investments in Anil Ambani's financial companies. The document alleges a criminal conspiracy involving shell companies, quid-pro-quo arrangements, and regulatory violations between 2017-2019, with 13 individuals and entities charged with conspiracy, cheating, and corruption.
Former Chhattisgarh CM's Son Denied Bail in Multi-Crore Liquor Scam Investigation
Oct 29, 2025 03:42 pm CST
A special court in Raipur has rejected bail for Chaitanya Baghel, son of former Chhattisgarh Chief Minister Bhupesh Baghel, in connection with an alleged Rs 2,000 crore liquor scam. The Enforcement Directorate has accused him of laundering money through shell companies while the investigation reaches a crucial stage.
Conman Harshvardhan Jain's Fake Diplomat Network: Connections to Godman Chandraswami and International Fraud Scheme Revealed
Oct 27, 2025 09:56 pm CST
An extensive investigation by Uttar Pradesh's Special Task Force has uncovered Harshvardhan Jain's elaborate scheme impersonating diplomats of self-proclaimed micronations to defraud Indian businessmen. The 800-page chargesheet reveals his connections to controversial godman Chandraswami, international arms dealers, and a network of shell companies across multiple countries, including plans for a lucrative "Horse Premier League."
Former MP, 2 Others Arrested In Rs 500-Crore Andaman & Nicobar Bank Fraud
Sep 17, 2025 11:04 pm CST
The Enforcement Directorate has arrested three persons, including a former Member of Parliament, in connection with a massive bank fraud case.