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SHANGHAI FRAUD CASE
From lottery draws to fiscal spending, China broadens digital yuan footprintIn a series of measures, many revealed here for the first time, the People's Bank of China (PBOC) is giving banks policy incentives and beh...- 'Millionaire' fraudster: How a homeless man used prop money to trick multiple women into funding his 'luxury life'A shocking scam unfolded in Shanghai where a homeless man posed as a millionaire nightclub owner. Over ten days, he convinced at least five...
- Corrupt HR manager made whopping Rs 20 crore by firing workers but keeping them on payrollA tech firm in Shanghai was embroiled in a financial scandal involving 22 fictitious employees. An HR manager secretly kept these 'employee...
- 100% attendance? How a HR manager fooled a tech company of Rs 20 croreA Shanghai tech company's HR manager embezzled Rs 20 crore by creating ghost employees and pocketing their salaries. The scam remained unde...
- ‘Rich’ husband scam: Woman cheats relatives of Rs 12.8 crore by staging 'fake wedding'A 40-year-old woman from Shanghai, surnamed Meng, orchestrated an elaborate scam by staging a fake wedding with a man she met while hitchhi...
- Mass layoffs at PwC after exodus of clients in ChinaPricewaterhouseCoopers LLP is reducing staff in China due to declining revenue prospects and client exodus. Over 100 employees across Beiji...
- PwC in major accounting scandal? China may impose record fine on PricewaterhouseCoopers over Evergrande auditing workChina is set to impose a record fine on PricewaterhouseCoopers LLP and may suspend some of its local operations due to its involvement in a...
- A pivot to China saved Elon Musk. It also binds him to Beijing.Elon Musk's intricate relationship with China through Tesla's Shanghai venture showcases both success and challenges. Musk's endeavors, inc...
- Bengaluru IT firm CEO loses Rs 2.3 crore in courier fraud: Here is what's courier fraud and safety tipsA founder-CEO of an IT firm recently lost Rs 2.3 crore in courier fraud. The fraudsters posed as FedEx executives and accused the CEO of be...
- SGX Nifty down 15 points; here's what changed for market while you were sleepingAsian stocks opened mixed. Some markets opened higher on Monday as investors took heart from gains on Wall Street while staying cautious ov...
- HSBC files winding up plea against IL&FS firm in Singapore courtIn the first such case against a group entity of crisis-hit Infrastructure Leasing and Financial Services Ltd (IL&FS) Group, the Hongkong a...
- Sensex tanks 793 points; five factors that dragged the marketAsian markets fell up to 2 per cent on fears that foreign inflows may ebb.
- Over Rs 2.05 lakh cr frauds in 11 years: ICICI Bank, SBI and HDFC among top victimsA highest of 6,811 cases were reported by the ICICI Bank involving Rs 5,033.81 crore, as per the RBI data.
- Sensex, Nifty fall for first time in 10 days; PSU bank stocks weighConsumer durables, banking, oil & gas, healthcare and auto stocks witnessed selling pressure.
- This is how China's regions fare in the fake GDP data stakesAfter a spate of admissions to fabricating data, doubts about the accuracy of provincial-level figures are throwing a shadow on the remarka...
- HSBC Bank gets income tax notice, fears hit on profitabilityEarnings plunged 17% to $18.7 bn for the year ended Dec 2014 on account of the fines, settlements, UK customer redress and associated provi...
- GlaxoSmithKline Plc executive caught off-guard by China graft chargesPolice charged Mark Reilly with multiple offences after a 10-month probe found the firm made billions of yuan from schemes to bribe doctors.
- Black money: Arvind Kejriwal seeks suspension of HSBC India operationsArvind Kejriwal has sought suspension of activities of HSBC for its alleged involvement in money laundering and violation of various acts.
- Power PSU engineers blame Reliance Infra for delays in DVC's Raghunathpur thermal projectReliance Infra, which is the EPC contractor for the project, claimed that the issue had been resolved and construction at the site was cont...
- It will take a 'good scam' to rein in hedge fundsThere is a common thread between the ongoing subprime crisis and the previous corporate scandals at the start of the century: the lack of t...
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