#FinancialScandals

[elfony]

Unveiling FTX Under Scrutiny:-Delving into Trading Firm Controversies

Dive deep into the fascinating exposé, 'FTX Under Scrutiny,' revealing the untold tale of the trading firm controversies. Uncover the truth behind the headlines and explore the intricate world of trading with FTX. Authored by Elfrida Kaufman, this gripping book offers an insider's perspective on the controversies surrounding FTX and its repercussions. With meticulous research and firsthand accounts, she navigates through the tumultuous terrain of financial markets, shedding light on the practices that have sparked debate and regulatory scrutiny. From market manipulation allegations to questions about transparency and accountability, this book examines the complexities of modern trading.

Whether you're a seasoned investor or simply curious about the inner workings of financial institutions, this book provides a compelling narrative that invites readers to ponder the ethical and regulatory implications of trading practices in today's global economy.

[jimfostercoc]

Cristina Alger, former analyst at Goldman Sachs and author of "The Darlings," talks about what it was like during the financial disaster of 2008 in New York. This full interview from a 2012 episode of "Conversations On The Coast with Jim Foster" can be heard now wherever you get your podcasts.

[enterprisewired]

Colorado Pastor and Wife Accused of Crypto Fraud Scheme Involving Faith-Based Scam

In a shocking revelation, the Colorado Division of Securities has filed civil fraud charges against a pastor and his wife, Eli and Kaitlyn Regalado, alleging they orchestrated a cryptocurrency scam that duped investors out of over $3.2 million. Tung Chang, Securities Commissioner for Colorado, disclosed that the couple targeted more than 300 investors with promises of financial prosperity through their crypto venture, INDXcoin.

The Complaint Details

The complaint details that the Regalados exploited the trust of their Christian community, infusing their sales pitches with prayer and biblical quotes, urging investors to have faith in their Crypto venture, promising ‘abundance’ and ‘blessings.’ However, state regulators argue that INDXcoin was, in reality, “essentially worthless.”

The accusations claim that instead of using the funds to benefit investors, the Regalados spent approximately $1.3 million on personal luxuries such as a Range Rover, jewelry, cosmetic dentistry, extravagant vacations, and home renovations in Denver. In a video statement, Eli Regalado admitted to pocketing the money and asserted that a home remodel was divinely inspired.

The Colorado Division of Securities initiated an investigation after receiving complaints from an anonymous investor. Civil fraud charges were subsequently filed, accusing the Regalados of violating anti-fraud, licensing, and registration provisions of the state’s Securities Act.

Eli Regalado, in video statements, claimed that God guided him to create INDXcoin, assuring investors that it was a safe and profitable investment. However, state authorities argue that INDXcoin lacked asset backing, making it a risky venture with no market interest beyond its pool of investors.

Inflating the value of INDXcoins

The complaint further alleges that the Regalados misled investors by using technical terms and falsely inflating the value of INDXcoins, which were initially purchased for $1.50 or given away. The Regalados allegedly failed to explain how the INDXcoin market worked, and their Kingdom Wealth Exchange was presented as the exclusive platform for buying, selling, or trading the currency.

As the INDXcoin failed to deliver promised returns, Eli Regalado reassured investors in videos, claiming they needed to wait for God’s plan to unfold. In a recent video, he acknowledged the difficulties faced by investors unable to sell and attributed the failure to a technological glitch in the exchange.

A court hearing is scheduled for Monday, where the Regalados will face the charges of fraud, exploitation of trust, and misleading investors. The accused pastor expressed hope for a divine intervention to resolve the situation, emphasizing that he is still waiting on a miracle from God to repay investors.

Curious to learn more? Explore our articles on Enterprise Wired

[poorikhabar]

एचडीएफसी बैंक के दो अधिकारियों को 3 साल की सजा

दो एचडीएफसी बैंक अधिकारियों से जुड़े रिश्वत मामले में, विशेष न्यायाधीश, सीबीआई मामले, पुणे (महाराष्ट्र) ने दोषियों नितिन निकम और गणेश धायगुडे को तीन साल के कठोर कारावास की सजा सुनाई। इसके अलावा, अदालत ने एचडीएफसी बैंक, बारामती शाखा के तत्कालीन रिलेशनशिप मैनेजर निकम पर ₹60,000, और धायगुडे, तत्कालीन ग्रामीण बिक्री कार्यकारी, एचडीएफसी बैंक, जलोची पर ₹10,000 का जुर्माना लगाया। 30 जुलाई 2020 को…

[weepingdreamerdefendor]

Unraveling the Conspiracies and Challenges Faced by Dr. Nowhera Shaik-Heera Group

https://sdayedaqeel.com/unraveling-the-conspiracies-and-challenges-faced-by-dr-nowhera-shaik-heera-group/

The first FIR against Heera Group marks a pivotal moment in the company's history and the life of its founder, Dr. Nowhera Shaik. To truly understand the complexities surrounding this case, we must delve into the details of when, where, and how this FIR was registered.

The circumstances surrounding this initial FIR raise questions about potential conspiracies and manipulations aimed at undermining Heera Group's operations. As we explore this topic, it becomes evident that rivals may have played a significant role in orchestrating events to harm the company and its founder. #heeragroup #nowherashaik #legalcontroversy #politicalconspiracy #defamationcase #asaduddinowaisi #mediabias #womenempowerment #indianpolitics #financialscandal #corporateharassment #policecorruption #youtubedrama #blackmailattempts #mepparty #karnatakaelections #businesscontroversy #legalmanipulation #truthrevealed #investigativejournalism

[cleverenemyking]

Unraveling the Conspiracies and Challenges Faced by Dr. Nowhera Shaik-Heera Group

https://sdayedaqeel.com/unraveling-the-conspiracies-and-challenges-faced-by-dr-nowhera-shaik-heera-group/

The first FIR against Heera Group marks a pivotal moment in the company's history and the life of its founder, Dr. Nowhera Shaik. To truly understand the complexities surrounding this case, we must delve into the details of when, where, and how this FIR was registered.

The circumstances surrounding this initial FIR raise questions about potential conspiracies and manipulations aimed at undermining Heera Group's operations. As we explore this topic, it becomes evident that rivals may have played a significant role in orchestrating events to harm the company and its founder. #heeragroup #nowherashaik #legalcontroversy #politicalconspiracy #defamationcase #asaduddinowaisi #mediabias #womenempowerment #indianpolitics #financialscandal #corporateharassment #policecorruption #youtubedrama #blackmailattempts #mepparty #karnatakaelections #businesscontroversy #legalmanipulation #truthrevealed #investigativejournalism

[pooja-987pooja]

Unraveling the Conspiracies and Challenges Faced by Dr. Nowhera Shaik-Heera Group

https://sdayedaqeel.com/unraveling-the-conspiracies-and-challenges-faced-by-dr-nowhera-shaik-heera-group/

The first FIR against Heera Group marks a pivotal moment in the company's history and the life of its founder, Dr. Nowhera Shaik. To truly understand the complexities surrounding this case, we must delve into the details of when, where, and how this FIR was registered.

The circumstances surrounding this initial FIR raise questions about potential conspiracies and manipulations aimed at undermining Heera Group's operations. As we explore this topic, it becomes evident that rivals may have played a significant role in orchestrating events to harm the company and its founder. #heeragroup #nowherashaik #legalcontroversy #politicalconspiracy #defamationcase #asaduddinowaisi #mediabias #womenempowerment #indianpolitics #financialscandal #corporateharassment #policecorruption #youtubedrama #blackmailattempts #mepparty #karnatakaelections #businesscontroversy #legalmanipulation #truthrevealed #investigativejournalism

[lawyer2ca]

🚨 Breaking News: PwC Faces Major Scrutiny in Evergrande Scandal 🚨

~ The global auditing giant PricewaterhouseCoopers (PwC) is under intense scrutiny by Chinese authorities over its role in the $78 billion fraud case involving China Evergrande Group. The investigation reveals that Evergrande massively overstated its revenues, which has sent shockwaves through the financial world. 📉

~ Evergrande's aggressive accounting tactics led to inflated profits and misleading financial statements, causing significant repercussions. This scandal not only highlights potential lapses in PwC's audit practices but also raises serious questions about the firm's due diligence and integrity in handling such massive accounts. 🔍

~ The implications for PwC are severe, with potential legal challenges and substantial reputational damage on the horizon. As Evergrande undergoes liquidation, creditors may seek compensation from PwC, adding to the firm's woes amidst ongoing global challenges. 🌍

~ This case underscores the critical need for rigorous audit standards and transparency in financial reporting, especially within high-stakes industries like real estate. 🏢

#PwC #evergrande #FinancialScandal #corporategovernance #businessethics #realestate #China #financenews

[businessapac]

The Biggest Scams In India

If we discuss about the biggest scams in India, a long list will come up in your mind. The increasing amount of scams and frauds, over the years, has been humiliating for the country. They have not only deprived the country of its money but also pushed it down a path of declining political and social health. Whether it was a global embarrassment at the Commonwealth Games or a national outcry over the 2G scam, the dishonest behavior of a few has left the country hapless.

According to the International Monetary Fund (IMF), corruption costs the world up to $2 trillion. That is a substantial amount of money–two percent of global GDP. On December 9, the United Nations commemorated International Anti-Corruption Day, recognizing the urgent need to eradicate corruption and promote global unity and stronger ties. ‘United against corruption for prosperity, peace, and security was the key subject. As countries around the world reassert their commitment to fighting corruption

1. BOFORS Scandal – Rs. 64 Crore

During the 1980s and 1990s, the Bofors scandal involved a huge weapons-contracting political controversy between India and Sweden. This scandal was started by Indian National Congress leaders and implicated the Indian Prime Minister, Rajiv Gandhi. Bofors AB is also suspected of receiving kickbacks to members of the Indian and Swedish governments. In 1986, India reportedly secured a deal worth approximately Rs 1437 crore with the Swedish armaments firm Bofors AB to deliver their 155mm field howitzer to the Indian Army.

2. Fodder Scam – RS. 950 Crore

The Fodder Scam was a corruption scandal in the eastern Indian state of Bihar that involved the loss of nearly $9.4 billion from the government treasury. Lalu Prasad Yadav, the then-Chief Minister of Bihar, and Jagannath Mishra, the former Chief Minister, were among those detained in connection with the heist. Lalu’s tenure as Chief Minister came to an end as a result of the controversy. S. N. Sinha is also accused of paying Dr. Dineshwar Prasad Sharma Rs. 300.60 crores. A special CBI court convicted Lalu Prasad Yadav on December 23, 2017, while acquitting Jagannath Misra.

3. Harshad Mehta & Ketan Parekh Stock Market Scam – Rs. 5000 crores

Harshad Mehta borrowed a substantial amount of money from the banking system and used it to build a large fund for himself by creating authentic-looking fraudulent bank receipts. Many banks lent him large sums of money, claiming that they were doing so in exchange for government securities. Ketan Parekh pulled off a similar heist, stealing $30 million from the Bank of India.

4. Vijay Mallya Scam – Rs. 9000 Crore

The Vijay Mallya scam is one of the biggest bank scams in India. After being accused of fraud and money laundering in India, Mallya escaped and sought sanctuary in the United Kingdom in 2016. A collection of 17 Indian banks is attempting to collect roughly $90 billion (US $1.3 billion) in loans. Mallya is accused of using it to gain 100% or partial ownership of more than 40 companies around the world. Many organizations, including the Internal Revenue Service and the CBI, are investigating Mallya for financial fraud and money laundering.

5. Commonwealth Games Scam – Rs. 70,000 crores

In 2010, the Commonwealth Events held in India attracted more attention due to the controversies and corruption than the games itself. The entire event was tainted with allegations of criminal conspiracy, cheating, and forgery, and the chairman of the 2010 Common Wealth Games, Suresh Kalmadi, was accused of corruption and malpractices. It was also reported that the Indian athletes were compelled to reside in deplorable conditions rather than the accommodations provided by the government.

6. Nirav Modi PNB Bank fraud – Rs. 11,400 Crore

The Nirav Modi scandal is India’s another one of the biggest scams in India. According to reports, the fraud was perpetrated under the Brady House brand of Punjab National Bank. This scam implicated not only Nirav Modi, but also his uncle Mehul Choksi and two senior PNB officials. PNB filed a case with the CBI in 2018 accusing Nirav Modi and his firms of getting Letters of Undertaking (LoUs) from PNB without paying the margin amount due on loans. This meant that if those companies defaulted on the loan, PNB would be responsible for the repayment.

7. 2G Spectrum Scam – Rs. 1,76,000 crores

In 2008, the government came under investigation when it was alleged that they had undercharged mobile phone companies for frequency allocation licenses. The licenses were used to generate 2G spectrum subscriptions. At the center of this scandal was the former Telecom Minister A. Raja. The Comptroller and Auditor General of India (CAG) noted that “the disparity between the money obtained and that mandated to be collected was Rs. 1.76 trillion.” (1,76,000 crore rupees) The Supreme Court declared the spectrum “unconstitutional and arbitrary” in 2012, resulting in the termination of over 120 licenses.

8. Hawala Scam – 1, 31,000 Crores

The Hawala scam erupted in the 1990s, drawing attention to politicians such as LK Advani, Arjun Singh, Yeshwant Sinha, Madan Lal Khurana, and others who were accused of bribery. The Hawala brothers, also known as the Jain brothers, were suspected of being involved in a terrorist raid. It was discovered that these lawmakers made transfers of alleged black money through their brothers.

9. Coalgate Scam – Rs. 1.86 lakh Crore

The coal allocation scam, sometimes known as “Coalgate,” is a political scandal that began in 2012, when the United Progressive Alliance (UPA) was in power. When the government was accused of fraudulently assigning 194 coal blocks between 2004 and 2009, the Comptroller and Auditor General (CAG) brought the scandal to light. As several bureaucrats and politicians were engaged, this was one of the scams that shook the entire country to its core. Despite the CAG’s initial prediction of a loss of more than Rs 10 lakh crore, the final audit stated that the scam cost Rs 1.86 lakh crore.

10. Black Money Scam – Rs. 72,80,000 Crore

The Black money scam is also known as the “black dollar scam” or the “wash wash scam.” It is a deception where con artists try to defraud a victim by convincing them that piles of banknote-sized paper are the genuine currency that has been stained in a theft. The victim is convinced to pay fees and purchase chemicals to remove the color, with the promise of a portion of the revenues.

The Verdict So, this concludes the list of the 10 biggest scams in India. Not only India, several but countries around the world have fallen victim to these fraudulent activities that have maligned their image on the international circuit. However, we can see a ray of hope as many countries are adapting stricter rules and regulations to prevent such instances. We hope to see their efforts come to fruition!

[familythings]

This is how Royal Families solve their Scandals https://curiosgirlblog.blogspot.com/2020/03/this-is-how-royal-families-solve-their.html #spain #spain🇪🇸 #royalfamily #kingfelipevi #kingfelipeviofspain #kingjuancarlosi #princeharry #britishroyalfamily #panamapapers #financialscandal https://www.instagram.com/p/B90vQNVn15K/?igshid=xq5qb2jh41fw

[elfony]

Navigating The Cryptocurrency Controversies💰🔍

Explore the explosive and complex world of cryptocurrency with 'The Cryptocurrency Controversies.' This timely book delves into the tumultuous world of digital currencies, exploring the controversies surrounding key players such as FTX, Binance, and Elon Musk. Through incisive analysis and in-depth research, this book sheds light on the events that have rocked the cryptocurrency market, from regulatory challenges to market manipulation allegations. With clarity and precision, the book offers insights into the implications of these controversies for investors, regulators, and the broader financial ecosystem. Whether you are a seasoned crypto enthusiast or a curious observer, this book provides invaluable perspective on the evolving landscape of digital finance. Join us as we navigate the twists and turns of this dynamic industry, illuminating the opportunities and challenges that lie ahead.

[weepingdreamerdefendor]

Unraveling the Conspiracies and Challenges Faced by Dr. Nowhera Shaik-Heera Group

https://medium.com/@sayedaqeel357/unraveling-the-conspiracies-and-challenges-faced-by-dr-nowhera-shaik-heera-group-f0ec101eaed5

The first FIR against Heera Group marks a pivotal moment in the company's history and the life of its founder, Dr. Nowhera Shaik. To truly understand the complexities surrounding this case, we must delve into the details of when, where, and how this FIR was registered.

The circumstances surrounding this initial FIR raise questions about potential conspiracies and manipulations aimed at undermining Heera Group's operations. As we explore this topic, it becomes evident that rivals may have played a significant role in orchestrating events to harm the company and its founder. #heeragroup #nowherashaik #legalcontroversy #politicalconspiracy #defamationcase #asaduddinowaisi #mediabias #womenempowerment #indianpolitics #financialscandal #corporateharassment #policecorruption #youtubedrama #blackmailattempts #mepparty #karnatakaelections #businesscontroversy #legalmanipulation #truthrevealed #investigativejournalism

[cleverenemyking]

Unraveling the Conspiracies and Challenges Faced by Dr. Nowhera Shaik-Heera Group

https://medium.com/@sayedaqeel357/unraveling-the-conspiracies-and-challenges-faced-by-dr-nowhera-shaik-heera-group-f0ec101eaed5

The first FIR against Heera Group marks a pivotal moment in the company's history and the life of its founder, Dr. Nowhera Shaik. To truly understand the complexities surrounding this case, we must delve into the details of when, where, and how this FIR was registered.

The circumstances surrounding this initial FIR raise questions about potential conspiracies and manipulations aimed at undermining Heera Group's operations. As we explore this topic, it becomes evident that rivals may have played a significant role in orchestrating events to harm the company and its founder. #heeragroup #nowherashaik #legalcontroversy #politicalconspiracy #defamationcase #asaduddinowaisi #mediabias #womenempowerment #indianpolitics #financialscandal #corporateharassment #policecorruption #youtubedrama #blackmailattempts #mepparty #karnatakaelections #businesscontroversy #legalmanipulation #truthrevealed #investigativejournalism