Tag: Ponzi scheme

Shivanand Neelannavar, promoter of alleged ponzi scheme, held

May 16, 2026 admin

The Belagavi police arrested Shivanand S. Neelannavar, the promoter of Shivam Associates, a financial firm that had been operating without regulatory approvals, on Friday (May 15). Shivam Associates (ACCUMEN), the firm he founded, faces charges of collecting deposits from the general public by promising 36% returns, without approval from the Reserve Bank of India, Securities…

Nation

Should you really await your second ‘marshmallow’?

May 10, 2026 admin

Life is a labyrinth brimming with twists and turns. It is never linear; no single pattern; no one-size-fits-all map; but it unfolds like stars scattered across the sky. And so for our third child, we spoke about last week, who is waiting for its second marshmallow there is no single clear outcome. Caught in the…

Business

Rs 37 Crore Cash Seized In Probe Agency ED Raids Against Mumbai-Based Ponzi Company Ritz Consultancy Services, Its Boss Amber Dalal

June 24, 2024 admin

File photo New Delhi: Bank and demat account deposits apart from cash worth about Rs 37 crore has been seized by the Enforcement Directorate (ED) as part of a money laundering probe against a Mumbai-based financial consultant and his company who are alleged to have duped investors of Rs 600 crore through a Ponzi scheme….

Nation