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The U.S. Securities and Exchange Commission sued Trivium Capital Management LLC and four individuals including Sunil K. Bhalla, a former executive of Polycom Inc. in a case stemming from the Galleon Group LLC insider-trading investigation.

GURGAON: On an average three to four accounts are opened in Gurgaon banks using forged proof of records, according to Gurgaon police. S S Deswal, the city police commissioner, told TOI that this has come to their notice in the past one year and they have asked banks to check the credentials of their clients by taking samples.

NEW DELHI: It may be a routine 'risk factor' disclaimer, but global giant Citibank has acknowledged that it runs the risk of possible fraud by its employees and internal controls may not always be effective.

The recent fraud in Citibank, in which an employee siphoned off Rs 300 crore by duping the bank’s customers into investing in fraudulent schemes, is not an isolated case. And your money isn’t entirely safe even in public sector banks. The finance ministry has revealed, in response to an application by RTI activist Gopal Prasad, that over the last five years, 252 employees of 11 public sector banks helped fraudsters withdraw large sums of money through fictitious cheques.

NEW DELHI: Delhi Police have blown the lid off a banking scam in the city in which former and serving bank agents duped customers to open accounts in several banks and diverted the amounts to their own accounts.