MONEY TRAIL
Menace of 'money mules' and how not to become one
Mule accounts are bank accounts that are used to launder proceeds of crime by fraudsters. In an age when there are strict laws on holding or using large amounts of cash, transactions in the banking system cannot be avoided. At the same time, criminals cannot use bank accounts because KYC norms will enable authorities to link the money to the activity through which they receive it.
Comeback Trail: After IT, time for large private banks to make a comeback? 6 top private banks with an upside potential of upto 40%
Today, because one private sector bank and some of the PSU banks are under pressure, the bank nifty is trading in the red. Because the bank in question, Kotak Mahindra bank has come under pressure due to one specific development which tends to be eye-catching, the whole narrative shifts to something which is not related to the core business of banking. If one leaves aside what is happening in the banks today and looks at a slightly broader picture, probably there are underlying indications of something else. A probability of a tactical investment opportunity building in the private sector banks taking place. Look at the leaders from that space, HDFC bank which has been at the forefront of getting all negative news is pretty much close to its earlier highs.
INDIA bloc to hold demonstration in Parliament premises on July 1 over "misuse of ED, CBI"
CBI's revelation of Kejriwal's dubious profit margin enhancement under the new Excise Policy led to his judicial custody until July 12.
Delhi HC to rule on BRS leader K Kavitha's bail plea in Excise Case on July 1
BRS leader K Kavitha was arrested by the Enforcement Directorate on March 15, 2024 and by the Central Bureau of Investigation (CBI) on April 11, 2024. The bench of Justice Swarna Kanta Sharma, after hearing submissions from all sides, decided to reserve the order in the matter on May 28, 2024.
Bail order perverse, Arvind Kejriwal neck deep in money laundering: ED to Delhi HC
The Enforcement Directorate has accused the Delhi High Court of granting bail to Chief Minister Arvind Kejriwal due to "perverse" findings, as the trial court did not consider material demonstrating his involvement in money laundering linked to the alleged excise scam. The agency filed a written note seeking a stay on the trial court's decision, arguing that it suffered from a "jurisdictional defect" since it was not given a proper opportunity to argue its case.
Supreme Court says Delhi High court stay on Arvind Kejriwal's bail unusual
The Supreme Court commented on the Delhi High Court's 'unusual' interim stay in Arvind Kejriwal's money laundering case, awaiting the HC's verdict on the ED's plea regarding the AAP chief's release.
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2024 US Presidential Election: What will happen if poll is held in seven swing states today? Has conviction dented Trump's edge?
In all swing states, Donald Trump's lead has either remained the same or grown after he was convicted by a Manhattan jury on 34 felony charges.
Trial court bail to Delhi CM Arvind Kejriwal had 'exposed' BJP's conspiracy, so ED challenged it in HC: AAP MP Sanjay Singh
AAP leader Sanjay Singh accused PM Modi of undermining justice system as Delhi HC halted a trial court's bail to CM Arvind Kejriwal in money laundering case. Singh claimed BJP's conspiracy, demanded apology. He criticized ED's challenge to the court order before its publication, alleging false evidence to target AAP.
ED raids portal involved in betting on 2024 poll results, illegal IPL broadcast
The Enforcement Directorate has undertaken raids in Mumbai and Pune as part of a money laundering probe against a website accused of illegal activities. The site in question allegedly engaged in online betting on the 2024 Lok Sabha election results and unauthorized broadcasting of IPL cricket matches.
ED makes fresh arrest in money laundering case against Hemant Soren
The Enforcement Directorate has arrested a broker, Shekhar Prasad Mahto, in connection with a land grab-related money laundering case involving former Jharkhand CM Hemant Soren. Mahto is accused of colluding with others to acquire a 4.83-acre land in Ranchi through fake deeds and tampered records. The ED seeks to trace the proceeds of crime and investigate other beneficiaries in this ongoing investigation.
Trump will try to turn his guilty verdict into campaign fuel
Donald Trump, facing 34 felony convictions linked to the 2016 election, plans to leverage the verdict as campaign fuel. He claimed that the verdict was politically motivated. Trump remained defiant and ready to fight, with his team insisting the outcome would not affect the election. Following the guilty verdict, Trump's campaign rallied supporters, labeling him a "political prisoner" and selling black "Make America Great Again" caps in response.
How Trump's hush money trial verdict could affect the 2024 election
Jurors in Donald Trump's first-ever criminal trial began deliberations on Wednesday in his hush money case, which could have significant implications for the 2024 White House race. Trump has pleaded not guilty to 34 counts of falsifying business records to cover up a payment that bought the silence of porn star Stormy Daniels shortly before the 2016 election.
Third Eye: Missing from scene during polls, on 'educational' campaign trail and, enter 'tana tana tan' and 'safachat safachat'
Jharkhand BJP issued a show cause notice to Hazaribagh MP Jayant Sinha for not campaigning or voting. Sinha, denied a party ticket, explained he voted via postal ballot.
'PMLA is Pradhan Mantri ki Lal Aankh': Kapil Sibal slams money laundering law
"PMLA is Pradhan Mantri ki Lak Aankh. It has nothing to do with Prevention of Money Laundering Act. It means you can send them over to ED who can do whatever they wish to do," Sibal said in a free-wheeling conversation with ANI.
Respectfully disagree with Delhi HC decision dismissing Sisodia's bail pleas: AAP
AAP to seek Supreme Court justice for Manish Sisodia as Delhi HC rejects bail in excise case. Atishi alleges BJP political conspiracy in liquor scam. Investigation ongoing by ED and CBI in alleged liquor scam involving coercion of witnesses against AAP leaders related to excise policy.
Arvind Kejriwal on campaign trail will add to BJP votes: Piyush Goyal
The Supreme Court last Friday granted interim bail to Kejriwal, who has been arrested in a money laundering case linked to the alleged excise policy scam involving several AAP leaders, to allow him to campaign for the ongoing Lok Sabha elections.
Arvind Kejriwal might get out on bail but not out of the woods
Arvind Kejriwal, under judicial custody in Tihar jail, faced no relief from the Supreme Court today during a hearing on interim bail related to alleged corruption and money laundering in Delhi's excise policy. The Delhi Chief Minister's judicial custody was extended till May 20, with the Supreme Court considering a decision on May 9. The ED raised concerns about setting a precedent for granting bail to individuals facing criminal charges, emphasizing the impact on the legal system. The court acknowledged the upcoming elections as an extraordinary circumstance for Kejriwal, but highlighted the need to establish a money trail in the case.
Trump blasts Biden in rare day on campaign trail
The former Republican president, who is running for a return to the White House, rallied supporters in Wisconsin and Michigan, among the most hotly contested states in his expected rematch with Democrat Biden in November.
Calcutta HC asks ED, CBI to file progress reports on primary school jobs case
The Calcutta High Court has directed the Enforcement Directorate (ED) and the CBI to submit updated reports on their investigation into a purported primary school jobs scam in West Bengal. The investigation focuses on the recruitment of primary teachers who passed a Teachers' Eligibility Test in 2014.
Special PMLA court grants one more week to ED for reply on Hemant Soren's bail petition
PMLA court granted ED one week to reply to Hemant Soren's bail. Next hearing on May 1. Soren alleges political motives, represented by Kapil Sibal virtually. JMM and election campaign mentioned.
Donald Trump hits campaign trail in swing states Michigan, Wisconsin
Trump intensifies anti-immigration rhetoric in rallies across Michigan, focusing on 'poisoning the blood' of the country. He aims to secure support in swing states like Wisconsin, with the election predicted to be closely contested.
Excise 'scam': ED says 'kickbacks' used in AAP Goa poll campaign also detected in I-T, CBI probes
A wide network of Hawala operators and 'Angadiyas' are also being investigated by the ED in this case where it recently arrested Delhi Chief Minister Arvind Kejriwal and claimed he and his political outfit are liable to be prosecuted in the alleged laundering of these funds. Statements of five 'Angadiya' firm operators have also been recorded by the ED to establish the "money trail" of this alleged Rs 45 crore bribe amount.
Money trail leads to BJP through bonds, alleges AAP
A day after Delhi chief minister Arvind Kejriwal was sent to seven-day custody of the Enforcement Directorate (ED), AAP senior leadership accused the BJP of using electoral bonds to "coerce" people. The ED had told the court that Arvind Kejriwal acted as a middleman and facilitated kickbacks to the Delhi government worth ₹100 crore from the 'South Group', the name given by central agencies to an alleged network of middlemen, businessmen and politicians.
Pattern in India similar to that of Russia, China: Shiv Sena (UBT) MP Sanjay Raut
Shiv Sena (UBT) MP Sanjay Raut criticizes BJP government, compares Kejriwal's arrest to Russia, China. Public role in deciding fate mentioned. Comments on BJP's tough election. Kejriwal arrested in Delhi Chief Minister money laundering case. AAP involved in proceeds of crime.
INDIA bloc protests at Shaheedi Park against arrest of Arvind Kejriwal
The INDIA bloc protested against the arrest of Chief Minister Arvind Kejriwal in a money laundering case related to the alleged excise policy scam. The leaders and workers gathered at Shaheedi Park in Delhi, criticized the BJP-led central government and raised slogans against it. Delhi Transport Minister Kailash Gahlot defended Kejriwal as an ideology and said he would come out of jail "without stains."
AAP claims BJP's link in Delhi excise policy case, raises questions on money trail
In a press conference, AAP leader and Delhi minister Atishi accused ED of arresting Delhi chief minister Arvind Kejriwal over Aurobindo Pharma owner Sarath Chandra Reddy's statement. She added that Reddy, who turned approver, had changed his statement under the pressure of Enforcement Directorate (ED).
Switched AUM trail commissions: What does it mean for investors and distributors? Sanjay Shah answers
Sanjay Shah, CMD of Prudent Corporate Advisory Services, discusses the impact of AMFI's new circular on AUM trail commissions, the benefits for investors, and the shift in investor preferences for lump sum investments away from small and midcaps. Shah says there is no change as far as TR or expense ratio is concerned because otherwise also, the AMC used to pay trail to old advisors.
ED raids several places in Kolkata in ration case
The four places where the ED conducted search operations included the Salt Lake office of Adhya's Chartered Accountant, who reportedly used to manage the Trinamool leader's accounts. Adhya was arrested on January 5 by the agency that is probing money trail of various companies associated with Adhya and entities dealing in foreign exchange and transfers into foreign accounts, people in the know said. Properties linked to Adhya and his family members are under scanner, people in the know said.
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