Tag Archives: Financial Fraud

In a massive financial fraud case, thousands of Indians have reportedly lost nearly ₹870 crore after falling victim to a Ponzi scheme run by Falcon Invoice Discounting in Telangana. The fraudulent investment scheme, which promised short-term returns of up to 22%, lured nearly 7,000 investors since 2021, according to Telangana Police.

Hundreds of people, mostly women, have fallen victim to a massive scam in Kerala, where they were promised two-wheelers and household appliances at half price under the pretext of corporate social responsibility (CSR) funding. The fraudulent scheme, which allegedly swindled crores of rupees, has led to over 10 FIRs being filed across multiple districts, with complaints continuing to pour in by the hour.

In a shocking case of financial fraud, a fake State Bank of India (SBI) branch was discovered operating in the Sakti district of Chhattisgarh, duping locals and unemployed individuals of lakhs of rupees. The elaborate scam involved illegal appointments, counterfeit documents, and staged training sessions, all set up to deceive unsuspecting villagers and job seekers.

A 78-year-old man loses over Rs 4 lakh in a cyber scam while attempting to cancel train tickets on the IRCTC website. Scammers posed as railway officials and deceived the victim into downloading a fraudulent app, leading to unauthorized access to his phone and bank details. Investigation uncovers potential connections to Bengal and Bihar.