Artwork

Innhold levert av IVM Podcasts. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av IVM Podcasts eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
Player FM - Podcast-app
Gå frakoblet med Player FM -appen!

Kamalavalli Arumugam

45:32
 
Del
 

Manage episode 348790077 series 3417453
Innhold levert av IVM Podcasts. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av IVM Podcasts eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

Kamalavalli Arumugam's name is one that 500,000 people across South India will never forget.

Because she was responsible for the Paazee fraud, one of the most elaborate and far-reaching financial scams ever seen in India (only rivalled by the Sahara Pariwar investor fraud).

In 2008, Kamalavalli, along with her business partners Mohanraj Kathiravan and Karu Kathiravan, would set up a company called Paazee Forex Trading in the Indian state of Tamil Nadu.

This company promised what was essentially a Ponzi scheme – a type of investment fraud that pays existing investors with funds collected from new investors.

Kamalavalli was featured heavily in the marketing for the company, promising investors 2x of their investments. And many thousands of investors believed them.

Over 2 years, Kamalavalli and her business partners swindled over 490 crore rupees (or 4.3 billion rupees) from about 45,000 investors.

In 2009, the Indian government stepped in and the Tamil Nadu police issued orders to freeze Paazee's bank accounts and arrest the company's founders.

Between 2009 and 2010, thousands of investors found out that they were not going to get their money back. Many, many complaints were filed – with the police, with the consumer courts, and even with the Madras High Court.

And just as Kamalavalli was going to be arrested, she pulled a trick on us all – she disappeared!

Find out more on the episode!

ALSO!! Please fill out our merchandise survey – https://forms.gle/ENMZgR4LBjjK9ThT9

Find out more at - https://ivmpodcasts.com/miss-conduct-blog

You can follow our hosts on Instagram.

Miss Conduct: https://instagram.com/missconductpod

Ragavi: https://www.instagram.com/ragi.dosai/

Nisha: https://www.instagram.com/just.nishful.thinking/

You can listen to this show and other incredible shows on the IVM Podcasts app on Android: https://ivm.today/android or iOS: https://ivm.today/ios, or any other podcast app. You can check out our website at http://www.ivmpodcasts.com/

See omnystudio.com/listener for privacy information.

  continue reading

56 episoder

Artwork
iconDel
 
Manage episode 348790077 series 3417453
Innhold levert av IVM Podcasts. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av IVM Podcasts eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

Kamalavalli Arumugam's name is one that 500,000 people across South India will never forget.

Because she was responsible for the Paazee fraud, one of the most elaborate and far-reaching financial scams ever seen in India (only rivalled by the Sahara Pariwar investor fraud).

In 2008, Kamalavalli, along with her business partners Mohanraj Kathiravan and Karu Kathiravan, would set up a company called Paazee Forex Trading in the Indian state of Tamil Nadu.

This company promised what was essentially a Ponzi scheme – a type of investment fraud that pays existing investors with funds collected from new investors.

Kamalavalli was featured heavily in the marketing for the company, promising investors 2x of their investments. And many thousands of investors believed them.

Over 2 years, Kamalavalli and her business partners swindled over 490 crore rupees (or 4.3 billion rupees) from about 45,000 investors.

In 2009, the Indian government stepped in and the Tamil Nadu police issued orders to freeze Paazee's bank accounts and arrest the company's founders.

Between 2009 and 2010, thousands of investors found out that they were not going to get their money back. Many, many complaints were filed – with the police, with the consumer courts, and even with the Madras High Court.

And just as Kamalavalli was going to be arrested, she pulled a trick on us all – she disappeared!

Find out more on the episode!

ALSO!! Please fill out our merchandise survey – https://forms.gle/ENMZgR4LBjjK9ThT9

Find out more at - https://ivmpodcasts.com/miss-conduct-blog

You can follow our hosts on Instagram.

Miss Conduct: https://instagram.com/missconductpod

Ragavi: https://www.instagram.com/ragi.dosai/

Nisha: https://www.instagram.com/just.nishful.thinking/

You can listen to this show and other incredible shows on the IVM Podcasts app on Android: https://ivm.today/android or iOS: https://ivm.today/ios, or any other podcast app. You can check out our website at http://www.ivmpodcasts.com/

See omnystudio.com/listener for privacy information.

  continue reading

56 episoder

Tutti gli episodi

×
 
Loading …

Velkommen til Player FM!

Player FM scanner netter for høykvalitets podcaster som du kan nyte nå. Det er den beste podcastappen og fungerer på Android, iPhone og internett. Registrer deg for å synkronisere abonnement på flere enheter.

 

Hurtigreferanseguide

Copyright 2024 | Sitemap | Personvern | Vilkår for bruk | | opphavsrett