09/01/ · Fake forex funds. You may come across forex funds that promise guaranteed returns on your initial investment. Fake funds will boast abnormally large annual returns that seem very enticing. But, as the adage goes, if it seems to good to be true, it probably is. Instead, consider less risky and proven index or mutual funds for your investment blogger.comted Reading Time: 8 mins A group of West African fraudsters operating in the country has conned several prominent personalities, eager to make a quick buck illegally, out of millions of shillings, the Sunday Nation can 07/12/ · They can increase your transaction costs, lead to high slippage, create fake breakouts and false signals, or simply lead to the accumulation of losing trades. In this guide, we’ll tackle those situations during which you should stay away from trading, and show you Estimated Reading Time: 8 mins
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While refusing bail to a person accused of counterfeiting currency, the Delhi High Court has observed that the circulation of fake currency notes is severely detrimental to the economy and hampers the country's financial regulation. The Court further remarked that the production of counterfeit currency notes often stems from dissatisfaction with a country's growth and is, therefore, aimed The Court further remarked that the production of counterfeit currency notes often stems from dissatisfaction with a country's growth and is, therefore, aimed at financially disintegrating and destabilizing the steady equilibrium of liquidity in the economy.
Justice Subramonium Prasad remarked that the process of making fake currency notes has reached a level of immaculate sophistication due to which these fake currency notes are indistinguishable from actual currency notes and have become a high profiteering business. He added, effect of fake forex syndicate to the country. Moreover, it has a disastrous effect on the economy. The remarks were made while denying bail to one of the accused apprehended in possession of Rs.
The present petitioner's name emerged as being involved in the syndicate with few other people. As the charge sheet was not filed within the stipulated time, three co-accused were granted default bail. However, before the petitioner could approach the Court for bail, a charge sheet was filed and thus, default bail was dismissed. Before the High Court, the Petitioner pleaded parity with other co-accused.
The High Court however, while declining bail observed that the legislature specially inserted sections A, B, C, D and E in the IPC to protect the country's economy. It referred to K. Hashim v. State Tamil Nadu to gather the legislative intent of these provisions. It added that the Petitioner cannot claim parity given that he is a part of the well-oiled machinery or syndicate dealing in the printing and circulation of fake currency notes, which has the propensity of having a disastrous effect on the country's economy.
Ascertaining the role of the accused effect of fake forex syndicate to the country the syndicate, the Court pursued the material on record to observe that he was in possession of Rs. It was also brought on record that effect of fake forex syndicate to the country co-accused used the petitioner's laptop for designing these fake currency notes. Moreover, the call detail records also showed constant communication between the accused and other involved people. Observing that the supplementary charge sheet is yet to be filed and that the nature of offences is severe, the Court denied bail and further added.
Click Here To Download Order. News Updates 'Part Of A Well-Oiled Syndicate Having Disastrous Effect On Economy': Delhi High Court Denies Bail To Accused In Fake Currency Case. Shrutika Pandey. Share This. Your free access to Live Law has expired. Premium account gives you:, effect of fake forex syndicate to the country. He added, "Counterfeiting of currency notes breeds drug smuggling, purchase of illegal arms and ammunition, funding of undesirable terrorist outfits, cross-border money laundering, human trafficking and various other phenomena.
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23/09/ · Forex trading charts like these can be faked. The real life costs of forex scam can be devastating. For example 13, investors in Kenya lost over Sh billion to VIP Portal in So far this is still considered to be the biggest forex scam in Kenya’s blogger.comted Reading Time: 5 mins The syndicate, according to the Commissioner of Police, Umar Manko, has been in the illegal business for over five years. Indeed, the fake currencies on display during the parade of the suspects reportedly looked real enough, indicative of the suspects’ mastery of counterfeiting in paper money The economic effects of the crisis were the country‟s inability to meet its import obligations and other international bills, among them the servicing of international debts. The chronic shortage of foreign currency caused a severe shortage of imported raw materials; more remarkable was the
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