In 1919 Charles Ponzi, a clerk in Boston, suckered Americans with a scheme that is now identified with his name. At a time when interest rates stood at 5 percent, Ponzi offered investors a 50 percent return in just 45 days. The pitch was to buy postal coupons—used for buying foreign stamps, in a particular country, and then capitalize[Read More...]
The world’s great philanthropist and investment leader, Warren Buffett, once said, “It’s only when the tide goes out that you realise who has been swimming naked”. Well, it’s the ebb of the tide for many of India’s high-flying crony capitalists like Nirav Modi and Mehul Choksi, as they find themselves caught in an ignominious buff. Their diamonds may have sparkled[Read More...]
It has been several years since I used the phrase “shameless audacity”, but somehow I feel compelled to use it again and again to describe the saga of this newer Modi: and here everything is personal. The reason is: in a country of 1.2 billion people the majority struggles to have access to basic amenities to survive the day-to-chaos and[Read More...]
Heartiest Congratulations to the Govt of India. They have allowed the second billionaire who has done the biggest fraud of India to leave the country. Where are those who are charged with the responsibility of keeping an eye on the financial institutions in the country, like the revenue intelligence wings in Banks, RBI, ED and others? Why the Government[Read More...]
