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A special court will deliver its verdict in <keyword id="74971" type="UNKNOWN" weightage="20" keywordseo="Satyam-fraud-case">Satyam fraud case</keyword> on March 9, 2015. Special <keyword id="2655311" type="UNKNOWN" weightage="20" keywordseo="Judge-BVLN-Chakravarthi">Judge BVLN Chakravarthi</keyword> deferred the judgment, owing “voluminous documents.” 
 
“You know the volume of the case…it requires some more time (to study). You may be satisfied or not (with the outcome), but I must satisfy myself (before coming to a conclusion). Typing of the judgement itself needs 2-3 weeks,” the judge said. 
 
Satyam Computers founder and erstwhile chairman B Ramalinga Raju, his brother and the company’s former managing director B Rama Raju and former chief financial officer Vadlamani Srinivas were present in the court during the hearing. 
 
The others accused in the case are: former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju’s another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and CH Srisailam, and Satyam’s former internal chief auditor VS Prabhakar Gupta. 
 Raju was arrested by the <keyword id="6451278" type="ORGANIZATION" weightage="20" keywordseo="Crime-Investigation-Department">Crime Investigation Department</keyword>, Andhra Pradesh police, after he confessed to the fraud.

Verdict In Satyam Case To Be Delivered On March 9

New Delhi [India], October 2 (ANI): TDP National General Secretary <keyword id="1127225" type="General" weightage="50" keywordseo="nara-lokesh" source="Orion">Nara Lokesh</keyword> and party supporters on Monday staged a hunger strike at Lodhi Estate in Delhi against the arrest of TDP Chief and former Chief Minister <keyword id="768226" type="General" weightage="50" keywordseo="nara-chandrababu-naidu" source="Orion">Nara Chandrababu Naidu</keyword>. The party workers held 'I am with CBN' posters demanding the release of Former Andhra Pradesh CM <keyword id="6354350" type="General" weightage="20" keywordseo="chandrababu-naidu" source="Orion">Chandrababu Naidu</keyword>. From candle marches to rallies, TDP workers have been demanding the release of Chandrababu Naidu by showcasing their outrage across the country. Earlier, a rally was organised in Andhra Pradesh's Chittoor district opposing the arrest of the former state Chief Minister and Telugu Desam Party (TDP) Chief N Chandrababu Naidu. On September 24, Women caders of the Telugu Desam party held a candlelight march in Visakhapatnam on Sunday against the <keyword id="302547" type="General" weightage="50" keywordseo="ysr-congress-party" source="Orion">YSR Congress Party</keyword> government demanding the release of their party chief. The hunger strike in Delhi comes one day ahead of the <keyword id="6354977" type="General" weightage="50" keywordseo="supreme-court" source="Orion">Supreme Court</keyword> hearing which is scheduled on Tuesday in which the SC will hear a plea of TDP leader N Chandrababu Naidu challenging the Andhra Pradesh High Court order in dismissing a petition for quashing the FIR against him in the Andhra Pradesh skill development scam which was filed by Crime Investigation Department (CID) of Andhra Pradesh based on the complaint filed by the ruling <keyword id="18985704" type="General" weightage="50" keywordseo="ysr-congress-mla-a-ramakrishna-reddy" source="Orion">YSR Congress MLA A Ramakrishna Reddy</keyword>. In his plea, Naidu contended that the Andhra Pradesh High Court had rejected his petition by ignoring his pleading that under Section 17A of the PC Act, which came into force on July 26, 2018, no FIR against a public servant could be registered without prior sanction of the appropriate authority. Former Andhra Pradesh Chief Minister and Telugu Desam Party (TDP) chief, N Chandrababu Naidu, was arrested by the Criminal Investigation Department (CID) on September 9 in connection with the multi-crore skill development scam case.

TDP leaders stage hunger strike In Delhi against arrest of Chandrababu Naidu

<ul><li>After three years of investigations, the US SEC has sued five individuals for helping <keyword id="6155367" type="UNKNOWN" weightage="20" keywordseo="Bitconnect">BitConnect</keyword>, a fake <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">cryptocurrency</keyword> exchange.</li><li>The promoter allegedly created fake testimonials on YouTube to advertise a "lending program" that investors would invest in.</li><li>The scam was truly international as the token was hosted by the company and pretended to be a genuine cryptocurrency.</li></ul>Often dubbed as the biggest heist in the cryptocurrency world, the BitConnect scam rocked the industry in 2018 as it <a href="https://www.bloomberg.com/news/articles/2021-05-28/sec-sues-five-bitconnect-promoters-over-2-billion-scheme">siphoned</a> off $2 billion by duping investors. The alleged blockchain was nothing but a multi-level Ponzi scheme that promised too good to be true returns quickly. After three years of investigations, the US Securities and Exchange Commission (SEC) has sued five individuals for helping BitConnect, a fake cryptocurrency exchange. The SEC has filed a civil lawsuit against these five promoters, alleging misleading advertisements. They are accused of selling securities to retail customers without registering with the regulator. "We allege that these defendants unlawfully sold unregistered digital asset securities by actively promoting the BitConnect lending program to retail investors," Lara Shalov Mehraban, Associate Regional Director of the SEC's New York Regional Office, said in a <a href="https://www.theblockcrypto.com/linked/106617/sec-bitconnect-promotion-lawsuit-crypto-ponzi">statement</a>. Even though the FBI was also investigating for three years, no criminal complaints have been <a href="https://www.coindesk.com/sec-sues-5-over-2b-bitconnect-ponzi">filed</a>. The promoter is said to have created fake testimonials on YouTube to advertise a "lending program" that investors would invest in. For each investment, they received a commission. One of the promoters was able to amass a whopping $2.6 million in just commission. The SEC has long asked investors to be wary of schemes that promise extraordinarily high returns in a short period. Still, the added mix of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency</a> made the deal more believable. <h2 style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;">What is the BitConnect scam? </h2> The rise of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">Bitcoin</a> in 2016 played a pivotal role in convincing investors that Bitconnect (BCC) was a legitimate currency that could have immense potential. BitConnect also employed a system of invites and referrals, where users could invite their friends and fellow <keyword id="2721952" type="PERSON" weightage="20" keywordseo="crypto">crypto</keyword> enthusiasts in exchange for financial bonuses. A simple pyramid structure asked users to invest some money, refer and sign-up more users to create a vast pool. The scheme works as long as newer people join and pour in fresh capital. The moment the outflow of the fund exceeds the inflow, the plan fails. If you exit the scheme on time, you’re safe. But if you’re holding the asset when the structure collapses, there’s little hope of recovery, as we’ve seen with a plethora of other similar scams. The alleged crypto exchange became a sensation and was among the top 20 in the world. And, this is where regulators started to take notice. It received a strike-off <a href="https://thenextweb.com/hardfork/2017/11/13/bitcoin-bitconnect-uk-ponzi-investment/">notice</a> at the end of November 2017 in the UK, threatening a shutdown and dissolution. The <a href="https://www.zdnet.com/article/bitconnect-winds-up-cryptocurrency-exchange-operations/">last bullet</a> was a cease and desist letter from the Texas Securities Board, ordering the company to close down its operation and cut BCC distribution. The scam was truly international as the token was hosted by the company and pretended to be a genuine cryptocurrency. For most of BCC's existence, the only place to purchase, trade, or sell the cryptocurrency was through the proprietary exchange hosted by Bitconnect. Its ripple waves were also felt in India, where Divyesh Darji, the India head of the company, was <a href="https://www.financialexpress.com/india-news/bitcoin-investment-scam-promoter-of-bitconnect-held/1284996/">arrested</a> by the Gujarat CID (Crime Investigation Department) in August 2018. <h2 style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;">The law is almost helpless...</h2> Authorities globally are confused since cryptocurrency isn't regulated. The SEC can only charge the promoters with a civil case for the misselling of financial instruments that weren't registered. US authorities were also having trouble tracing the victims as they were spread across the globe and unaccounted for. The FBI <a href="https://www.wfmj.com/story/39995571/fbi-looking-for-victims-in-25-billion-bitconnect-coin-investigation">asked</a> victims of the Ponzi scheme to come forward and help in tracing all the scammers. Even Indian authorities aren't equipped enough to deal with decentralized platforms that call themselves an exchange. Although, regulators worldwide have synonymously said that initial coin offerings (ICOs) are widespread, and users should be careful of what they're investing in. Cryptocurrency continues to be a grey market, providing close to zero law enforcement or redressal. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/indias-banks-started-withdrawing-services-from-crypto-exchanges-earlier-this-month/articleshow/83109454.cms">Indian banks are reportedly citing a three-year old quashed circular to persuade users against crypto</a> <a href="https://www.businessinsider.in/science/health/news/good-nutrition-is-vital-if-you-are-recuperating-from-the-coronavirus-here-is-what-you-should-have/articleshow/83083748.cms">Good nutrition is vital if you are recuperating from the Coronavirus — here is what you should have</a> <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-se-3-smartphone-launch-date-specifications-expected-price-in-india/articleshow/83107752.cms">iPhone SE 3 launch date, specifications, price in India and everything else we know so far</a>

US regulator SEC sues five Bitconnect promoters in a $2 billion crypto trading Ponzi scheme

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Nicky Loh/Getty ImagesNajib Razak</div></div></div><ul><li>Police have finished counting valuables seized from properties linked to Malaysia's former prime minister Najib Razak.</li><li>As well as $28-million worth of cash, police seized 12,000 pieces of jewelry, 567 handbags, 423 watches, and 234 pairs of sunglasses.</li><li>Najib lost a re-election bid last month after facing financial scandals related to the state investment fund 1MDB, which is missing billions of dollars.</li><li>Najib has denied any wrongdoing but many voters were swayed by reports that hundreds of millions of missing funds were found in the prime minister's personal accounts.</li></ul> Valuables seized by police from properties related to former Malaysian prime minister Najib Razak are worth up to $273 million.Jewelry, handbags, watches and other items were all seized last month during <a href="http://www.businessinsider.com/raid-on-najib-razak-properties-what-was-seized-1mdb-2018-5">raids on six properties</a> as part of an investigation into how billions of dollars went missing from the state investment fund 1MDB. Najib lost last month's election after his popularity began to plummet from 1MDB-related financial scandals, including hundreds of millions of dollars that were reportedly found in his personal bank accounts.Amar Singh, head of Malaysia's Commercial Crime Investigation Department (CCID), said in a press conference on Wednesday that the raids led to the "biggest seizure in Malaysia's history" with the items valued between $223 million and $273 million. <div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Lai Seng SinCommissioner Amar Singh, Malaysia's Federal Commercial Crime Investigation Department (CCID) director, displays photos of items from a raid during a news conference in Kuala Lumpur, Malaysia June 27, 2018.</div></div></div>The seized items included 12,000 pieces of jewelry, 567 handbags, 423 watches, and 234 pairs of sunglasses."Among them were 1,400 necklaces, 2,200 rings, 2,100 bangles, 2,800 pairs of earrings, 1,600 brooches and 14 tiaras," Singh said. "We took 16 days to count."The jewelry also included one diamond and yellow gold necklace worth $1.5 million. It also took eight days to count and then value the 100 different brands of watches.Last month, Singh announced that <a href="http://www.businessinsider.com/police-found-29-million-cash-in-residence-linked-to-najib-razak-1mdb-2018-5">26 different currencies totaling $28.6 million</a> had been taken from an empty apartment in the same building as Najib's son and daughter. There were so many notes, 11 counting machines and 22 bank officers were required over three days.Hundreds of luxury handbags were also reported by Singh at the time, who said Hermes was cooperating in providing a value for the bags, which can cost up to $200,000.The announcement of the raids' findings has been done in stages purely for logistical reasons, according to the police."We couldn't do the counting at the premises because the numbers were too huge," Singh said.The raided properties were Najib's official residence and office, three units the Pavilion Residences building and another of Najib's homes. The empty apartment was where most of the items were taken from. Singh said Najib and his wife will soon be called in for questioning on the items and to determine their ownership.Malaysia's new prime minister, 92-year-old Mahathir Mohamad, told Reuters last week there's an "almost perfect" case against Najib's role in the 1MDB scandal. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/what-happened-at-the-trump-north-korea-summit-2018-6">Why the North Korea summit mattered even if it was 'mostly a photo op'</a></h3> <div> </div> </div>

$273 million-worth of valuables were seized from Malaysia's former prime minister including 567 handbags, 234 pairs of sunglasses, and 12,000 pieces of jewelry

<ul><li>Officers from <keyword id="68096" type="PERSON" weightage="20" keywordseo="Amreli-district">Amreli district</keyword>’s local crime branch unit have been accused of abducting and forcing the businessman to transfer 200 Bitcoins worth ₹120 million. </li><li> He was released on the surety that he would give them an additional ₹320 million through <keyword id="48292" type="PERSON" weightage="20" keywordseo="hawala">hawala</keyword>. </li><li>The CID has formed a team to probe this high profile case.</li></ul>Surat-based builder and real estate player <keyword id="1142830" type="PERSON" weightage="20" keywordseo="Shailesh-Bhatt">Shailesh Bhatt</keyword> accused police officers from Amreli district’s local crime branch unit for abducting and forcing him to transfer 200 Bitcoins worth ₹120 million to them. He was released on the surety that he would also give them an additional ₹320 million through hawala. Acting on a complaint by the businessman on 23 February, Ashish Bhatia, the director general of police, Crime Investigation Department (CID) told <a href="https://www.hindustantimes.com/india-news/eight-gujarat-cops-booked-for-forcing-man-to-transfer-bitcoins-worth-rs-12-cr/story-qY20AbWcLG3ZUzPuxEl5DI.html" data-type="tilCustomLink">Hindustan Times</a> that, “Two policemen — constables Babu Der and Vijay Vadher — were arrested today (08 April). All other accused have gone underground. Efforts are on to nab them.” In all, eight police officers have been booked for the crime and Anant Patel, Amreli local crime branch unit inspector, is the main accused in the case. The incident took place on 11 February, when the businessman was apparently asked to get to <keyword id="6356847" type="LOCATION" weightage="20" keywordseo="gandhinagar">Gandhinagar</keyword> by the policemen. He was then abducted and taken to a farmhouse where he was strong-armed into transferring the <keyword id="6354947" type="UNKNOWN" weightage="20" keywordseo="bitcoin">Bitcoin</keyword>s to an unidentified account. And though there is no evidence of the Bitcoin transfer, according to Bhatia, the accuser’s other claims have checked out. What is unclear, however, is why was Shailesh Bhatt picked for this crime. There is a distinct possibility that he was targeted because he himself may have stolen the Bitcoin from someone else. To which, Bhatia said, “Even if there was an application against Bhatt, it should have been forwarded to the superintendent of police or some higher authority for investigation,” The CID has formed a team to probe this high profile case.

This may be India’s first Bitcoin extortion case

<div class="KonaFilter image-container display-table"><div><div class="image on-image">AP PhotoPolice work during a search operation of former Prime Minister Najib Razak's house in Kuala Lumpur, Malaysia.</div></div></div><ul><li>Police seized 284 boxes from properties linked to Malaysia's former Prime Minister Najib Razak.</li><li>The boxes including designer handbags filled with Malaysian and US currency, watches, and jewelry.</li><li>The raids were part of an investigation into the scandal-plagued state investment fund 1MDB, which Najib set up in 2009 and allegedly siphoned off billions of dollars.</li><li>Najib lost power last week in an historic election that led to the opposition alliance leading Malaysia for the first time in history.</li></ul>Police have seized 284 boxes of luxury handbags, some stuffed with foreign cash and jewelry, from properties linked to Malaysia's former Prime Minister Najib Razak.The prime minister's popularity started plummeting in 2015 when nearly $700 million from a state investment fund was reportedly found in Najib's personal accounts. Last week, he lost his office in an unprecedented election that saw Malaysia's first ever transition of power to the opposition alliance, with new Prime Minister Mahathir Mohamad saying <a href="http://www.businessinsider.com/malaysias-prime-minister-mahathir-mohamad-will-rule-before-anwar-ibrahim-2018-5">he expects to soon charge Najib</a> over a global financial scandal.Early Thursday morning, police raided six properties linked to Najib, including his home, former office, and condominium properties. Five police trucks were <a href="https://www.straitstimes.com/asia/se-asia/dozens-of-hermes-birkin-bags-and-other-items-seized-from-najib-linked-apartment">reported</a> leaving one of those residences."Our seizures included 284 boxes containing designer handbags. Our personnel checked these bags and discovered various currencies including Malaysian Ringgit, US Dollars, watches and jewelry in 72 bags," Amar Singh, the director of the Commercial Crime Investigation Department, told reports according to <a href="https://www.thestar.com.my/news/nation/2018/05/18/cops-seize-luxury-goods-jewellery-and-cash-of-too-much-to-determine-value--from-3-condos-in-kl/">Star Online</a>.<div class="KonaFilter image-container display-table"><div><div class="image on-image">AP PhotoMalaysian police confiscated a few hundred designer handbags and dozens of suitcases containing cash, jewelry and other valuables as part of a corruption and money-laundering investigation into former Prime Minister Najib Razak.</div></div></div>Singh said there were too many items to be able to immediately evaluate their value, but the amount of jewelry was "rather big" and the handbags included the brands Hermes, Louis Vuitton, and Birkin.Most of these goods were taken from a condominium residence where, on Saturday, senior officers reviewed CCTV footage after complaint that 50 boxes of Birkin bags, which could cost up to $200,000 each, were delivered to Najib's wife in vans marked with the prime minister's seal.Singh confirmed the search of the six properties was "related to the 1MDB investigations," referencing a fund established by Najib in 2009 to make strategic investments. But six countries, including the US and Switzerland, are investigating the fund for siphoning off $4.5 billion.Documents relating to 1MDB were also seized from Najib's office, while the search of his home on Thursday lasted almost 18 hours.On Saturday, Najib and his wife were blacklisted from leaving the country. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/timothy-snyder-russia-not-as-strong-as-you-think-2018-4">Why Russia may not be as strong as most people think</a></h3> <div> </div> </div>

Police seized 72 designer handbags stuffed with foreign cash from Malaysia's former prime minister as part of investigation into a global financial scandal

<div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Lai Seng SinMalaysia's former prime minister Najib Razak leaves after giving a statement to the Malaysian Anti-Corruption Commission (MACC) in Putrajaya, Malaysia May 22, 2018.</div></div></div><ul><li>Police seized $28.6 million-worth of cash, which included 26 foreign currencies, from properties reportedly linked to former Malaysian Prime Minister Najib Razak.</li><li>The seizures happened on six properties linked to Najib last week, where 284 designer handbags and 72 bags were found stuffed with cash, jewelry, and watches taken.</li><li>Police needed 22 bank staff and 11 counting machines to track and verify all the cash found.</li><li>The raids appear to be part of an investigation into suspicious money transfers from the state investment fund which lost billions of dollars.</li></ul> Police recently seized $28.6 million-worth of cash from a residence reportedly linked to former Malaysian Prime Minister Najib Razak.Najib lost a national election earlier this month in a dramatic turn of events which led to the first transition of power to the opposition alliance in the country's independent history. Najib's popularity began to plummet in 2015 after billions of dollars went missing from the state fund 1MDB, and hundreds of millions were reportedly found in Najib's personal bank accounts.After being sworn in as the new prime minister Mahathir Mohamad promised to continue the investigation into 1MDB, saying he expected charges to be laid against Najib. Last week, police conducted raids on six properties linked to Najib and seized <a href="http://www.businessinsider.com/raid-on-najib-razak-properties-what-was-seized-1mdb-2018-5">284 luxury handbags and 72 bags of cash, jewelry and watches</a>. At the time. Amar Singh, head of Malaysia's Commercial Crime Investigation Department (CCID), said in a press conference on Friday that 35 of 72 bags contained cash totaling about $28.6 million."We've counted since 21 to 23 May, and yesterday we sat with the bank to tally the amount in that seizure. I can confirm that the money in those 35 bags is about 114 million ringgit ($28.6 million). It's in 26 currencies, Malaysian ringgit, US currencies and various other denominations," Singh said.Singh had been unable to provide estimates of the amount of cash seized earlier "because it was a lot," he said. Police used 11 counting machines and 22 bank officers to count and verify the 26 foreign currencies that were seized.The luxury handbags and bags of cash and jewelry was seized from an empty apartment in the Pavilion Residences on May 18. Nothing else was in the apartment except for furniture, Singh said.Though Singh would not confirm whether the apartment was linked to Najib, the raid occurred at the same time police began searching Najib's home, and the apartment of each his son and daughter in the Pavilion Residences.Experts will soon start the process of authenticating and appraising the remaining 37 bags of jewelry and watches.Of the remaining 284 designer handbags found in boxes, most of these were from Hermes which can cost up to $200,000 each."We have already discussed with Hermes and we'll take pictures and send it to Paris to certify from the aspect of authenticating it and also the price," Singh said.Earlier this week, Najib gave a testimony to Malaysia's <a href="http://www.businessinsider.com/malaysia-anti-graft-official-investigating-1mdb-was-threatened-2018-5">anti-graft agency</a> over $10.6 million found in his bank account, which allegedly originated from a former 1MDB subsidiary.Najib set up the 1MDB fund in 2009, but in 2015 nearly $700 million was reportedly found in his personal bank accounts, which a royal Saudi family member said was a personal donation. A number of countries, including the US and Switzerland, are investigating $4.5 billion that was allegedly siphoned off from 1MDB, some of which was used to fund "<a href="http://www.businessinsider.com/ap-wolf-of-wall-street-film-company-to-pay-60m-settlement-2018-3">The Wolf of Wall Street" movie</a> and <a href="http://www.businessinsider.com/r-miranda-kerr-returns-jewelry-gifted-in-alleged-malaysian-scheme-2017-6">diamonds for supermodel Miranda Kerr</a>.Najib is currently barred from leaving the country. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/blackrock-rick-rieder-waze-epiphany-changing-our-economy-2018-4">BlackRock's $1.8 trillion bond chief shares an epiphany he had that reshaped his entire economic outlook</a></h3> <div> </div> </div>

You Searched For "Crime Investigation Department" and got 7 results

Verdict In Satyam Case To Be Delivered On March 9

BI India Bureau

TDP leaders stage hunger strike In Delhi against arrest of Chandrababu Naidu

ANI

US regulator SEC sues five Bitconnect promoters in a $2 billion crypto trading Ponzi scheme

Shivam Vahia

$273 million-worth of valuables were seized from Malaysia's former prime minister including 567 handbags, 234 pairs of sunglasses, and 12,000 pieces of jewelry

Tara Francis Chan

This may be India’s first Bitcoin extortion case

Kavita Majumdar

Police seized 72 designer handbags stuffed with foreign cash from Malaysia's former prime minister as part of investigation into a global financial scandal

Tara Francis Chan

Police found $28.6 million-worth of cash sitting in an empty apartment linked to Malaysia's former prime minister Najib Razak

Tara Francis Chan

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