 "CBI to step up focus on corporate, other frauds")
The Central Bureau of Investigation (CBI) seems to be working hard to improve its image - from a "caged parrot" to an investigating agency insulated from political interference. Its hands are full with cases on corruption in public life and also economic offences including banking and corporate frauds, Ponzi scams, serious frauds, cyber crimes, etc.
As on date, the CBI is investigating a whopping over Rs 1,20,000 crore worth Ponzi scheme scams. It investigated bank fraud cases in excess of Rs 20,000 crore in 2015.
In calendar year 2015, CBI could successfully investigate 20 major cyber crimes. It has already approached nine states including Maharashtra to open up state-of-the-art cyber crime investigation units following an alarming rise in crimes through the internet.
Last month, it had filed a supplementary charge sheet in the Saradha scam. A senior officer, who was in Mumbai with CBI director Anil Sinha to inaugurate agency's Mumbai office, told Business Standard. "Ponzi scams are unearthed across the country.
In Jharkhand alone, there are 180 such cases. A ponzi scheme is a fraudulent investment operation where operators usually entice new investors by offering higher returns than other investments. CBI is working actively to crack such scams in a time-bound manner."
As on date, the CBI is investigating a whopping over Rs 1,20,000 crore worth Ponzi scheme scams. It investigated bank fraud cases in excess of Rs 20,000 crore in 2015.
In calendar year 2015, CBI could successfully investigate 20 major cyber crimes. It has already approached nine states including Maharashtra to open up state-of-the-art cyber crime investigation units following an alarming rise in crimes through the internet.
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The Maharashtra government has been requested to notify the CBI for taking up the investigation of offences under the Information Technology Act 2000. On January 8 this year, the CBI arrested Pearls Group head Nirmal Singh Bhangoo and three others in connection with an alleged Rs 45,000 crore ($6.7 billion) ponzi scam.
Last month, it had filed a supplementary charge sheet in the Saradha scam. A senior officer, who was in Mumbai with CBI director Anil Sinha to inaugurate agency's Mumbai office, told Business Standard. "Ponzi scams are unearthed across the country.
In Jharkhand alone, there are 180 such cases. A ponzi scheme is a fraudulent investment operation where operators usually entice new investors by offering higher returns than other investments. CBI is working actively to crack such scams in a time-bound manner."