ED attaches ₹376-crore assets in Bhushan Steel case

The Enforcement Directorate (ED) has attached assets worth ₹367 crore in the money laundering case involving Bhushan Steel Limited and others. The immovable properties are located in Delhi, Mumbai, Kolkata, and Odisha. On Friday, the agency said the attached properties were held in the name of “benamidars” and shell entities through dummy directors. It is … Read more

How AI technology fuelling rise in online voice scams

AI has already changed the game for cybercriminals. The barrier to entry has never been lower, which means it has never been easier to commit cybercrime. According to a research by McAfee’s upcoming report, ‘The Artificial Imposter’, reveals how AI technology is fuelling a rise in online voice scams. McAfee’s researchers discovered that they had … Read more

Pump-and-dump lands Arshad Warsi, wife, others in Sebi net

The Securities and Exchange Board of India (Sebi) on Thursday barred several social media influencers from the securities market and impounded their unlawful gains, in connection with pump-and-dump schemes in shares of Sharpline Broadcast and Sadhna Broadcast. Arshad Warsi and his wife Maria Goretti Warsi profited ₹29.43 lakh and ₹37.56 lakh respectively from the scheme, … Read more

FTX assets: Lawyers located billions in cash and crypto located

Two months after FTX filed for bankruptcy, lawyers for the cryptocurrency exchange have begun to identify and put a value on its assets, as they determine how much they will be able to recover to repay lenders and customers who lost billions of dollars. In a court filing, lawyers from the New York firm of … Read more

GoMechanic to reduce workforce by 70%, says co-founder Amit Bhasin

Car workshop and auto spare parts platform, GoMechanic is going to let go of approximately 70% of its workforce. This was announced by co-founder Amit Bhasin in a long LinkedIn post. GoMechanic, which offers everything from mechanics to carwashing services on an app, bills itself as having India’s largest auto service center network. With its … Read more

ED attaches Amway India’s assets worth ₹757.77 crore

The Enforcement Directorate has attached assets worth ₹757.77 crore of Amway India Enterprises Private Limited, which has been accused of running a multi–level marketing scam. The attached properties include a land parcel and factory building of Amway in Tamil Nadu’s Dindigul district, plant and machineries, vehicles, bank accounts and fixed deposits. The 36 bank accounts … Read more