He promised investors 10% gains. Now, he’s accused of using their money for sailing excursions in an alleged Ponzi scheme

Ravi Singh6 hours ago01 mins

A financier has been extradited from the United Kingdom to the United States to face allegations that he cheated investors who were promised monthly 10% gains in what was actually a Ponzi scheme, authorities said. Matthew Melton, 61, of Boulder, Colorado, has remained jailed at a federal lockup in Brooklyn after appearing in court Saturday…

ED to file FIR against 970 crore fraud kingpin for laundering

Ravi Singh3 days ago02 mins

KANPUR: Enforcement Directorate (ED) is set to register a money laundering case against Ponzi scheme fraud mastermind Ravindranath Soni, who allegedly duped over 1,000 investors of Rs 970 crore across 12 countries, a source said.The agency has completed a preliminary investigation and is expected to lodge a case against Soni soon.ED officials had earlier sought…