https://www.taxtmi.com/news?id=34229 A Ponzi scheme operated through a purported invoice discounting platform solicited short-term deposits by promising high returns and fabricating vendor profiles and deals to simulate legitimacy; funds were collected and partly repaid while the outstanding amounts were diverted into shell companies and varied commercial ventures. Law enforcement has named multiple accused, arrested two executives, registered offences under penal provisions and the state depositor-protection statute, and is investigating asset tracing, identification of additional participants, and recovery of misappropriated funds. en-us Sun, 16 Feb 2025 18:31:04 +0530 Sun, 16 Feb 2025 18:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=34229 A Ponzi scheme operated through a purported invoice discounting platform solicited short-term deposits by promising high returns and fabricating vendor profiles and deals to simulate legitimacy; funds were collected and partly repaid while the outstanding amounts were diverted into shell companies and varied commercial ventures. Law enforcement has named multiple accused, arrested two executives, registered offences under penal provisions and the state depositor-protection statute, and is investigating asset tracing, identification of additional participants, and recovery of misappropriated funds. News - Sun, 16 Feb 2025 18:31:04 +0530 https://www.taxtmi.com/news?id=34229