Legal
Gold, jewels, ‘Islamic’ finance: how India’s I Monetary Advisory built a US$365 million Ponzi scheme
A multimillion-dollar scandal under the veil of Islamic banking is unfolding in Bangalore, the tech capital of India. With the alleged involvement of high-profile lawmakers, businessmen and bureaucrats, the scale of the Ponzi scam keeps expanding as more arrests take place. About 50,000 aggrieved investors, mostly Muslims, have so far…
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Click here to read the full story: South China Morning Post