Results for: Fraud

Mahindra & Mahindra Financial Services (Mahindra Finance) has detected a fraud of approximately ₹150 crore in its loan portfolio at one of its branches in the northeast. The fraud involved the forgery of KYC documents for retail vehicle loans, leading to the embezzlement of company funds. Investigations are underway, and corrective actions are being implemented, including the arrest of individuals involved. The board meeting to approve financial results for the fourth quarter and fiscal year 2023-24 has been rescheduled to May 30th. The company has also approved a hike in borrowing limit to ₹1.30 lakh crore, and the appointment of new auditors and an additional director.

The former Mayor of Tshwane, Dr. Murunwa Makwarela, has passed away. His death comes just a week after he faced fraud charges related to his insolvency. Makwarela’s passing is a sad day for the city and its residents. We extend our condolences to his family and the entire community.

Mahindra and Mahindra Financial Services (M&M Financial) has detected fraudulent activities involving forged documents and embezzlement of company funds in its retail vehicle loan division. The company estimates the financial impact of the fraud to be around 1.50 billion rupees ($18 million). Investigations are ongoing, and corrective actions have been taken, including the arrest of individuals involved. M&M Financial has delayed the announcement of its quarterly results to May 30th due to the fraud investigation.

Siddharth Singh, son of former mafia don-turned-politician Brijesh Singh, has been scammed of over Rs 11 lakh by a cybercriminal posing as a paint company director. The fraudster, identified as Amit Singley, lured Singh into depositing money for a dealership after responding to an online advertisement. The cyber crime police have registered an FIR under various IPC sections and are investigating the case.

Charles ‘Todd’ Hill, a former HGTV personality, was sentenced to four years in prison for his role in several multi-million dollar fraudulent schemes involving real estate and financial fraud.

A businessman from Anand Vihar in Sector 32, Harmeet Singh Malik, has been arrested in connection with a cybercrime where Rs 6.1 crore was siphoned off from a software development company’s account. The amount was transferred to 141 bank accounts and e-wallets using a VPN to evade IP detection. Five other accused have been arrested, and police are searching for two more.

A couple from Florida, Dakota Jones and Kira Enders, allegedly forged a fake $1 million lottery ticket by combining two $500X The Cash scratch-off tickets. The altered ticket visually appeared to be a winning ticket. Enders reportedly submitted the forged ticket for a $1 million claim at the Florida Lottery’s office in Pensacola on March 1. Special Agent Richard Pisanti later detained the couple on March 11 for questioning. During interviews, Enders claimed she had scratched the ticket herself and believed it was a winner. However, when confronted with the inconsistencies on the ticket, she denied taping the two pieces together. PISANTI showed Enders that the counterfeited ticket did not match the words on the back. Enders responded: ‘What, they don’t go together?’

A 42-year-old woman in Rio de Janeiro, Brazil has been arrested after attempting to take out a loan in her deceased uncle’s name at a bank. Erika de Souza was caught on CCTV footage wheeling her 68-year-old uncle, Paulo Braga, into the bank and trying to get him to sign a loan document. The surreal incident has sparked outrage on social media, with many condemning the woman’s actions as inhumane.

In a historic criminal trial, Manhattan prosecutors will be permitted to question former President Donald Trump about prior court rulings involving fraud and defamation, should he choose to testify. However, allegations of sexual abuse from a civil case will not be admissible. The judge’s decision followed a Sandoval hearing to ensure Trump is informed of potential lines of questioning during cross-examination. Prosecutors aim to assess his credibility and introduce evidence related to fraud convictions against the Trump Organization.

Sam Bankman-Fried, the former CEO of the failed cryptocurrency exchange FTX, is set to cooperate with a class-action lawsuit filed by investors and customers who lost money when the company collapsed. Bankman-Fried has agreed to assist in prosecuting celebrities who endorsed FTX, including Tom Brady, Larry David, Stephen Curry, Shaquille O’Neal, and Naomi Osaka. The lawsuit alleges that the celebrities promoted FTX without disclosing that they were paid by Bankman-Fried, and that they are therefore liable for some of the losses incurred by investors.