A high-yield investment program (HYIP) is a type of Ponzi scheme,an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors.
Byrraju Ramalinga Raju is an Indian businessman. He is the founder of Satyam Computer Services and served as its chairman and CEO from 1987 until 2009. Raju stepped down following his admission to embezzlement from the company to the tune of ₹7,136 crores,including ₹5040 crores of non-existent cash and bank balances. In 2015,he was convicted of corporate fraud,which led to the collapse of Satyam Computers.
The National Spot Exchange Limited (NSEL) is India's first spot exchange under the ownership of 63 Moons Technologies. It was established in view of the then Prime Minister's vision to create a "single market" across the country for both manufactured and agricultural produce.
Maytas was a group of companies founded by B. Ramalinga Raju. It included Maytas Properties and Maytas Infra Limited.
Andhra Pradesh Industrial Infrastructure Corporation Ltd also known as APIIC is an Andhra Pradesh Government initiative for providing infrastructure through development of industrial areas.
Qnet Ltd,formerly known as QuestNet and GoldQuest,is a Hong Kong–based multi-level marketing (MLM) company owned by the QI Group. QNet was founded in 1998 by Vijay Eswaran and Joseph Bismark. The company's products include energy,weight management,nutrition,personal care,home care and fashion accessories on an e-commerce platform.
The Saradha Group financial scandal was a major political scandal caused by the collapse of a Ponzi scheme run by Saradha Group,a consortium of over 200 private companies that was believed to be running collective investment schemes popularly but incorrectly referred to as chit funds in Eastern India.
The 2013 Kerala solar panel scam occurred in 2013,when a solar energy company,Team Solar,in Kerala,India,used two women to create political contacts with links including to the Chief Minister's office. The company duped several influential people to the tune of 70 lakhs,by offering to make them business partners,or by offering to install solar power units for them,and receiving advance payments for the same. Team Solar was unsuccessful in lobbying Kerala Govt to get their firm included in ANERT programmes.
Kanwar Deep Singh,also known as K. D. Singh,is an Indian businessman turned politician and Member of Parliament (MP),Rajya Sabha representing the All India Trinamool Congress,but first elected to the Indian parliament as a nominee of the Jharkhand Mukti Morcha. He is the founder and the former chairman of the Indian business group called Turbo Industries,whose name was changed and rebranded as the Alchemist Group in 2004. He was elected to lead the Indian Hockey Federation (IHF) between 2013 and 2014.
National Spot Exchange Limited (NSEL) case relates to a payment default at the National Spot Exchange Limited that occurred in 2013 involving Financial Technologies India Ltd,when a payment default took place after a commodities market regulator,the Forward Markets Commission (FMC),directed NSEL to stop launching contracts. This led to the closure of the Exchange in July 2013.
The Aavin milk scam involved continuous diversion of supply vans from various districts midway on the route to Chennai and diluting with water. Aavin is the co-operative milk society of the state government of Tamil Nadu,India. The scam was found out on 19 August 2014 when police investigated the van from Narayanapuram village that was carrying empty milk cans that left Tiruvannamalai chilling centre bound to Chennai. Following the news,the state minister for milk was stripped of his post,nine Aavin officials were suspended and the chief suspect,Vaidyanathan,was arrested. The initial estimate of the losses have been valued at one per cent of the total ten lakh litres,amounting to ₹23 lakhs a day.
OneCoin is a fraudulent cryptocurrency scheme conducted by offshore companies OneCoin Ltd and OneLife Network Ltd,both founded by Ruja Ignatova in concert with Sebastian Greenwood. OneCoin is considered a Ponzi scheme due to its organisational structure of paying early investors using money obtained from newer ones. It was also a pyramid scheme due to the recruiting of investors without providing any actual product. The company maintained its own database of coins rather than using a blockchain and had no mining process which limited its ability to release and circulate coins. Many of the people central to OneCoin had been previously involved in similar schemes and business malpractice. OneCoin was described by The Times as "one of the biggest scams in history".
Anubhav Plantations was an Indian Chennai-based plantation company founded in 1992. It sold shares in teak plantations on guaranteed interests and later diversified to other schemes through four principal companies:Anubhav Agrotech,Anubhav Green Farms &Resorts,Anubhav Plantations,and Anubhav Royal Orchards Exports.
Webwork was an Indian website portal accused of being a Ponzi scheme. The site was promoted by a Bollywood star,and was said to have scammed Rs 125 crore from users. Webwork's directors were arrested in February 2017.
The Adarsh Credit Co-operative Society (ACCS) is a Ponzi scheme fraudulently registered under the MSCS Act w.e.f. 1986. It opened in 1999,primarily to bluff the public in Rajasthan,and all money has been siphoned off by the family members of the owners to buy properties and dupe investors of funds worth Rs. 8,000 Crore.
The All India Mahila Empowerment Party (AIMEP),is an Indian regional political party. It was founded on 12 November 2017 by Nowhera Shaik.
Kanumuru Raghu Rama Krishna Raju is an Indian industrialist and politician who is the 23rd Deputy speaker of the Andhra Pradesh Legislative assembly. He is a Member of Legislative assembly (MLA) in the Andhra Pradesh Legislative assembly representing Undi assembly constituency. He previously served as a Member of Parliament (MP) in the 17th Lok Sabha representing Narasapuram constituency,Andhra Pradesh. He belongs to Telugu Desam Party.
I Monetary Advisory (IMA) was an Indian investment company,with headquarters in Bangalore. Its collapse was one in a long line of similar collapses over the preceding few years,of companies purporting to be Islamic banking companies,with investors in India and the United Arab Emirates,that investigating authorities afterwards stated to have been Ponzi schemes,including:Heera Group;Morgenall,Capital Plus,and Capital Infrastructure;Injaz International,Ajmera,Aleef,Aala Ventures,Ambidant,and Burraqh;and Sunfeast Infotech,SpeakAsia,MMA Forex,Gold AE,Ferryland Tourism,UT Markets and Exential Group. Total losses to investors over 14 such companies have been conservatively estimated at ₹5,000 crore (US$590 million) with the loss due to IMA alone estimated at ₹2,500 crore (US$290 million)
Ng Yu Zhi,also known as Ng You Zhi,is a Singaporean alleged con artist and fraudster. The former director of Envy Global Trading,he was charged in March 2021 with running the largest Ponzi scheme in the history of Singapore,worth about S$1.5 billion.
