financial crime India
Massive Rs 11.79 Crore GST Fraud Ring Busted: How Cyberabad Police Uncovered Fake Firms Across Eight States
Nov 13, 2025 09:44 pm CST
Cyberabad Police have dismantled a sophisticated GST fraud operation spanning eight Indian states that illegally claimed Rs 11.79 crore in input tax credits. The scheme involved 52 fictitious firms, forged identity documents, and manipulated e-waybills, with key suspects arrested while technical experts remain at large. This elaborate financial crime demonstrates how criminals exploit verification systems to defraud government tax mechanisms.
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.
Tahsin Ahmed Arrested: TMC Leader's Son Behind Rs 350 Crore Bengal Chit Fund Scam
Oct 26, 2025 12:06 am CST
Police have arrested Tahsin Ahmed, son of a Trinamool Congress Minority Cell leader, for allegedly masterminding a Rs 350 crore chit fund scam in West Bengal's Asansol. The fraud reportedly affected over 3,000 families who were promised 14% monthly returns on investments through an unlicensed company. Opposition leader Suvendu Adhikari had previously highlighted the scam, demanding investigation and compensation for victims.