Former chief of NSEL Anjani Sinha arrested
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Last Updated: Jan 19, 2021, 07:56 AM IST
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During his questioning, Sinha alleged that Shah approved trading of castor seed, steel, sugar, cotton, mustard seed on long-term contracts, it said. Shah had also introduced new trading commodities, mainly sugar, to deal with assured return schemes, Sinha claimed.
During the course of investigation, it was found that the NSEL platform for spot trading was designed by the management of the exchange with assured return investment schemes, investigators said.
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New Delhi | Mumbai: Anjani Sinha, former CEO and managing director of National Spot Exchange (NSEL), has told Delhi Police that 63 Moons (formerly Financial Technologies India) group chairman emeritus Jignesh Shah was the brain behind the NSEL scam.
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Fraudsters duping FMCG businessmen after gaining their trust
By IANS |
Published on
Wed, Jan 13 2021 13:12 IST |
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How Fraudsters are duping FMCG businessmen by wining trust and duping later Modus operandi. Image Source: IANS News
New Delhi, Jan 13 : Fraudsters have been duping unsuspecting businessmen dealing in fast moving consumer goods (FMCG) of crores of rupees after gaining their trust by making timely payments for initial purchases, police said on Wednesday.
The modus operandi of these fraudsters came to light during police investigation and subsequent arrests made in several cases.
Police said that fraudsters would first purchase goods from suppliers at prices higher than those in the market and make timely payments in the first few instances.