Belagavi: Shivanand Neelannavar, proprietor of Shivam Associates and the prime accused in a multi-crore illegal deposit scam, has gone untraceable after recently securing bail, leaving hundreds of anxious depositors struggling to locate him.According to official estimates, the scam is valued between Rs 2,400 crore and Rs 4,500 crore, affecting 35,000 to 45,000 investors across Karnataka…
Belagavi: Close on the heels of the Shivam Associates deposit scam, another financial firm in Belagavi has come under scrutiny, raising fresh concerns among depositors. Officials on Thursday raided the office of Adityaraj Capital in Bhagya Nagar following allegations that funds mobilised from the public were illegally collected and diverted into unrelated business activities.The raid…
Belagavi: In the wake of the multi-crore deposit scam involving Shivam Associates, the district administration has established a dedicated fraud prevention cell at the deputy commissioner’s office to monitor and curb illegal financial activities in the district.A district coordination committee has also been constituted to oversee firms suspected of operating Ponzi schemes by luring investors…
