India's Rs 6,000 Crore Ponzi scam

WikiFX

| 2024-12-01 08:00

Abstract：India has been hit by a major Ponzi scheme worth an estimated 6,000 crores. This financial fraud has devastated hundreds of innocent investors.

img_v3_02h2_0991e4ba-87c3-4ec6-9cfe-65c26640da0g_compressed.png

India has been hit by a major Ponzi scheme worth an estimated 6,000 crores. This financial fraud has devastated hundreds of innocent investors. In India, The CID team raided BZ International Broking Private Limited's offices in Gujarat's Sabarkantha and six other districts.

Police said the firm lured teachers, farmers, and retired government officials with large profits. Police claimed that as part of its initial effort to entice investors, the corporation provided some returns to a large number of them.

The company is accused of using a vast network of agents to entice many people to invest by promising them interest rates that were significantly higher than those offered by traditional banks.

According to the Police, this company obtained about Rs 6,000 crore through illicit means. Police added that as they got to know about the police operation against them. The companys chief executive officer, Bhupendrasinh Parbatsinh Zala, and agents vanished.

The police urged anybody who had been tricked to come forward and lodge complaints.

Why settle for an app that offers limited features when you can have it all? WikiFX is your one-stop shop. It keeps you up-to-date with the latest market news but also empowers you to make informed decisions with its comprehensive broker evaluation tools. Assess a broker's regulatory status, read reviews, and check the broker's reliability & History—all in one place! Visit the WikiFX website now and transform your trading experience.

Scam Alert

USD 3,000,000 Lost? Over 1270 Investors Report TenX Prime Scams.

For a period of time, WikiFX has received a growing number of complaints from traders around the world, reporting that TenX Prime has defrauded more than USD 3,000,000. The latest report came from a trader, who shared his experience and concerns through an email to WikiFX.

Original 2025-10-20 10:51

tastytrade Not Matching Its Traders’ Taste: Withdrawal Blocks, Account Opening Hassles & More

Did tastytrade disallow you from opening a forex trading account? Did the broker fail to provide any reason for this hindrance? Have you faced deposit rejection issues with a US-based forex broker? Facing unfair charges and withdrawal blocks from tastytrade? Does the customer support team fail to address these queries? These strong claims from the trader have become increasingly common on broker review platforms. Let’s take a quick look through this review of tastytrade.

Original 2025-10-17 20:40

Traders Flag DUHANI as a Scam Forex Broker: Withdrawal Denials, Account Termination & False Promises

Lured into the DUHANI trading platform courtesy of the bonus offer that never existed? Did the forex broker prevent you from accessing your account and take away all your profits? Being promised a swap-free account but ended up paying a charge on closing a position? These experiences have become synonymous with DUHANI traders. Frustrated by these incidents, traders have opposed the broker online, with some of them even claiming to have recovered their stuck funds using legal means. Let’s check their negative reviews to find out the pain they have had trading via DUHANI.

Original 2025-10-17 19:38

DNA Markets Review 2025: Is This Broker Regulated and Safe?

If you want to trade and earn, you should explore DNA Markets. But before investing your money with this broker, you should consider: Is this broker regulated? In this DNA Markets Review 2025, we will provide you with a complete evaluation of the broker.

Original 2025-10-17 19:05