Ponzi scheme
ED Uncovers Massive Rs 2,300 Crore Cryptocurrency Ponzi Scheme Across Himachal Pradesh and Punjab
Dec 14, 2025 08:14 pm CST
The Enforcement Directorate has conducted raids across Himachal Pradesh and Punjab, exposing a sophisticated Rs 2,300 crore cryptocurrency Ponzi scheme. Operating through multiple unregulated platforms, the scammers manipulated token prices and laundered proceeds through complex networks. The primary suspect, Subhash Sharma, fled India in 2023 while authorities have frozen assets and continue investigating this large-scale financial fraud.
ED Attaches Rs 264 Crore Assets From Shine City Group in Major Real Estate Fraud Case
Dec 04, 2025 08:22 pm CST
The Enforcement Directorate has declared Shine City Group founder Rashid Naseem a Fugitive Economic Offender, confiscating properties worth Rs 127.98 crore in a major real estate scam. After investigating 550+ FIRs, authorities have attached assets worth Rs 264.10 crore and are processing claims from over 6,500 victims who were defrauded through fake investment schemes.
Chinese 'Cryptoqueen' Sentenced to 11 Years in UK for $6.6 Billion Bitcoin Fraud Scheme
Nov 12, 2025 05:16 pm CST
Zhimin Qian, dubbed the "cryptoqueen," has been sentenced to over 11 years in prison by a UK court for orchestrating a massive $6.6 billion Bitcoin fraud that affected more than 128,000 victims in China. This case involved the UK's largest cryptocurrency seizure of 61,000 Bitcoin as Qian lived extravagantly across Europe before her April 2024 arrest.
Chinese "Goddess of Wealth" Facing 14-Year Prison Sentence Over Historic $6 Billion Bitcoin Fraud Case
Nov 10, 2025 12:45 pm CST
Chinese businesswoman Zhimin Qian, nicknamed the "goddess of wealth," faces up to 14 years in prison after UK authorities seized over $6 billion in Bitcoin tied to a massive fraud scheme that victimized 128,000 people. After fleeing China in 2018, she attempted to launder proceeds through luxury property purchases before her arrest in 2024, marking the largest cryptocurrency seizure in history.
Enforcement Directorate Charges Raj Kundra with Possessing 285 Bitcoins Worth Rs 150 Crore in Cryptocurrency Fraud Case
Sep 27, 2025 03:35 pm CST
The Enforcement Directorate has filed a chargesheet against businessman Raj Kundra for allegedly possessing 285 Bitcoins worth Rs 150.47 crore received from crypto-scam mastermind Amit Bhardwaj. Despite claiming to be just a mediator, the ED asserts Kundra is the beneficial owner who has concealed wallet addresses and attempted to disguise the funds' criminal origin through transactions with his wife, actress Shilpa Shetty. The case relates to a larger Bitcoin Ponzi scheme that promised investors returns through mining operations that never materialized.
Probe Agency Files Prosecution Complaint In Sahara Group Money Laundering Case
Sep 16, 2025 01:48 am CST
The Enforcement Directorate filed a prosecution complaint earleir this month under Section 44 of the Prevention of Money Laundering Act in connection with the Sahara Group case.