An offline Ponzi ran through hotel conference rooms across Delhi-NCR for twelve months, paying early investors with later investors' money until the demands for principal turned into death threats. The complaint names a regional political figure and his circle.
The Enforcement Directorate attached 14 properties of Gian Sagar Educational and Charitable Trust this week, valued at ₹1,596 crore ($191M USD). The trust treated patients. The money, the ED alleges, came from a farmland Ponzi that ate ₹48,000 crore from people who thought they were buying soil.
Police in Barabanki arrested three men accused of cloning fingerprints from public land records and draining bank accounts through India's Aadhaar payment system. The machine they allegedly fed has bled over ₹1,200 crore in fourteen months.
For four months in 2022, a Telegram-promoted app called Global Media paid Indians small amounts to watch advertisements. Then it disappeared with roughly ₹45.33 crore (about $5.4M USD), and the people running it had Cambodian and Malaysian phone numbers.