https://www.taxtmi.com/news?id=13390 SFIO concluded several group-run schemes were Ponzi schemes sustained by new subscriptions rather than investment income; found violations including illegal deposit collection and false statements under the Companies Act, unauthorized collective investment schemes subject to securities prosecution, breaches of the Prize Chits and Money Circulation Schemes (Banning) Act, and multiple IPC offences (conspiracy, cheating, misappropriation, falsification). SFIO is sharing its report and evidence with investigative and securities authorities to coordinate prosecutions. en-us Tue, 16 Sep 2014 09:43:33 +0530 Tue, 16 Sep 2014 09:43:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13390 SFIO concluded several group-run schemes were Ponzi schemes sustained by new subscriptions rather than investment income; found violations including illegal deposit collection and false statements under the Companies Act, unauthorized collective investment schemes subject to securities prosecution, breaches of the Prize Chits and Money Circulation Schemes (Banning) Act, and multiple IPC offences (conspiracy, cheating, misappropriation, falsification). SFIO is sharing its report and evidence with investigative and securities authorities to coordinate prosecutions. News - Tue, 16 Sep 2014 09:43:33 +0530 https://www.taxtmi.com/news?id=13390