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Saturday, August 24, 2019

Tag: Ponzi scheme

Bernie Madoff asks Trump to reduce his 150-year prison sentence

If US President Donald Trump commutes Madoff’s sentence, he will have to do so against a Justice Department recommendation.

Islamic ponzi scam mastermind detained over half-billion dollar fraud

Khan lured over 100,000 backers with promises of lucrative returns that kept to Islamic principles of finance.

France’s Orange Bank sued over 439 million euros lost in Madoff...

The case underscores how the ripples from Madoff's US$60 billion scheme, one of the biggest financial frauds in history, can still be felt in the financial system 10 years on.

New York man pleads guilty to running ticket-based Ponzi scheme

Jason Nissen pleaded guilty to the fake resale of tickets to premium events such as the Super Bowl, the US Open tennis tournament, and the Broadway musical “Hamilton”.

Cryptocurrencies are like Ponzi schemes, World Bank chief says

World Bank group president Jim Yong Kim says it is still not really clear how cryptocurrencies work.

India likens cryptocurrencies to Ponzi scheme, cautions investors

India's finance ministry says there is a real and heightened risk of investment bubble of the type seen in Ponzi schemes.

Crooks getting more creative in pushing scams

Two DAP leaders expose the latest scheme which uses mobile apps to promote a cash payback scheme that has already netted more than 150 “investors”.

Arul Kanda least qualified to head Khazanah, says Pua

DAP parliamentarian says Arul’s record in helming 1MDB should cause him to be automatically disqualified from being considered to assume the post of Khazanah managing director.

651 Malaysians lose millions in alleged Ponzi scheme

Singapore police are looking into a property company linked to the scheme which allegedly swindled thousands of investors of RM373 million.

More Chinese investors demand justice over MonSpace investments

DAP's Lim Lip Eng claims that police have refused to take action as the monetary transactions were mainly in China.

JJPTR comes to a full stop, following arrest and raid

Facebook pages close, as offices remain shut after raid on Friday and yesterday's arrest of founder Johnson Lee and his two key associates.

MonSpace worse than JJPTR, says DAP

Segambut MP Lim Lip Eng claims investment company has now been named by Bank Negara only because certain people have stopped protecting them.

Is it wrong to help the 100 disabled people in JJPTR...

The background of a company, regardless of whether it is undertaking a ponzi scheme or not, does not matter as Gerakan’s intention is to help the people, and in this case it happens to be the OKUs from Kuala Lumpur.

Why is Gerakan getting involved with JJPTR?

The way I see it, yesterday's Gerakan-organised event, where JJPTR refunded OKU investors, is to regain public trust in what could be termed a ponzi-like scheme.

BNM: Investors can be charged too over financial scams

Bank Negara orders all financial institutions to heighten vigilance in detecting accounts used by perpetrators of financial scams, and to monitor such clients.

JJPTR founder finds investors to bail out money game

Investment scheme company boss Johnson Lee says even members who recently put in funds will get their money back.

Reports filed against VIP couple over alleged forex scam

Former MIC leader says police only got 'tail of the snake, with the head still out there', after arrests following raid on forex investment company last month.

Police probe VenusFX for illegal deposit-taking

Prominent couple also linked to police probe after allegedly offering to legalise VenusFX operations by obtaining a banking licence via Putrajaya "connections".

Over 200 cheated of RM2.2m by businessman and wife

MIC treasurer S Vell Paari claims couple worked with investment company to run Ponzi scheme.

Ponzi scheme victims eligible for US$4 billion in refunds

More than 25,000 former investors cheated by former Nasdaq chairman Bernie Madoff to be paid from special 'victim fund'.