I-T Department probing foreign banks, brokers in investments case

I-T is probing suspected tax evasion to the tune of Rs800 crore during the last two years in Private Placement Programmes or PPP where an exceptional amount of returns are guaranteed within an extremely short tenure

New Delhi: The Income Tax (I-T) department is probing a few foreign banks and financial brokers after it was tipped off about large scale illegal high returns investment programme being executed in violation of guidelines issued by the Reserve Bank of India (RBI), reports PTI.
The investments and returns scheme, called the Private Placement Programmes (PPP), is devised where an exceptional amount of returns are guaranteed within an extremely short tenure and the I-T is probing suspected tax evasion to the tune of Rs800 crore during the last two years in this alleged tax crime.
According to sources privy to the development, the department was alerted about these schemes, being run by some private players and foreign banks, after economic intelligence agencies like the Central Economic Intelligence Bureau (CEIB) and others provided them with such inputs last year.
The PPP, according to RBI and tax laws, are not permitted in Indian economic channels and any investment returns programme can only be undertaken after obtaining due clearance from these agencies.
"A probe is underway. The names and identities of the case cannot be disclosed at present as the department is gathering evidence," they said.
In a typical PPP, sources said, brokers offer as much as 200-300% returns to a bank account holder over a short period of time through pledging of fixed deposits (FDs) and the resulting amount is utilised in some other high return investment avenue by the operator.
The FDs used in this scheme are worth crores and the conniving banks then issue letters of credit to the account holder and route the cash or FDs to be used for any other investments purpose, thereby skirting the legal requirements of reporting the assets on records.
The department which was given the data by snoop agencies from late 2010 has begun an exhaustive probe of all the suspicious and cash transaction reports it had received on these banks and financial intermediaries since then.
The department, according to sources, will soon begin the process of assessment in these cases and investigate the role of the people involved and also the end use of the profits generated through this scheme.


Supreme Court Order:unmasked

The Supreme Court's ruling on Sahara India was path-breaking but can Sebi drive home the advantage?

When the financial conglomerate of Chain Roop Bhansali (CRB) collapsed like a pack of cards in the mid-1990s, many of us, journalists, were fully aware of how dodgy the group was, but it was difficult to pinpoint exactly why it would collapse. The one time I had something concrete was a SEBI (Securities & Exchange Board of India) inspection report punching holes in its mutual fund operations. When I asked for his comment, Mr Bhansali went straight to the chairman of the media group I worked for and almost succeeded in having the report killed. Fortunately, I managed to convince him to let me publish that report, but without my name on it.

A few months later, CRB collapsed and rumour has it that the paper I worked for also lost a good deal of money. CRB’s agents around the country flocked to Mumbai to get their money back. Many were feeling wretched about having persuaded needy pensioners and widows to invest in CRB. When a group of them met me for help, I was initially unsympathetic. How could they not know that the group was dubious, I asked. A distributor from Kolhapur had an eye-opening response. He said, “Maybe you journalists knew about CRB, but nothing negative was ever published. I can only rely on public information and all that was positive. CRB had an AAA credit rating, a provisional banking licence (which RBI claims to approve after plenty of due diligence), was allowed to float a mutual fund (again after a tough approval process), had won a ‘best merchant banker’ award. The promoter routinely had his photographs published with regulators, politicians, policy-makers and others. Why would I even doubt its credentials?” He was perfectly right. CRB investors were victims not of a rogue company but of failed regulators and silent media.

It is in this context that the Supreme Court’s 263-page landmark judgement on the Sahara group’s privately placed debentures case is significant. By documenting every dodgy aspect of the group’s fund-raising exercise, Justices KS Radhakrishnan and Jagdish Singh Khehar have opened the doors to a frank discussion on the lack of credibility about its claims, absence of identification details of investors, constant obfuscation, reluctance to provide data and exercising influence in extracting false affidavits from government officials such as the Registrar of Companies (ROC), Kanpur. The judgement has reaffirmed the faith in the judiciary; and the legal team, led by senior counsel Arvind Datar, which fought doggedly against a battery of top lawyers, deserves a salute.

Let me explain what I mean. In a cricket-crazy nation, our cricketing heroes have had the Sahara Pariwar logo emblazoned on their shirts for nearly two decades. The contract seems to require our cricketers to endorse several Sahara projects giving it stupendous credibility among the masses. Its foray into retailing even has a bizarre depiction of Sachin Tendulkar and other cricketers performing funeral rites for products. Add to this, the frequent photographs of promoter Subrata Roy and his family with film-stars and politicians and the ‘unbanked’ public (which Sahara admits is its target audience) is sold. The final touch is the swishy lifestyle of Subrata Roy and media reports about his acquisition of iconic global hotels or bailing out Vijay Mallya’s sinking Force1. Who can suspect anything is wrong anywhere? But is this all a cover for a massive Ponzi operation? The strictness of the SC judgement seems aimed at clearing doubts, one way or another.

Regulatory Inaction
Until SEBI acted on Roshan Lal’s complaint to go after Sahara’s humongous, non-transparent fund-raising, every regulator had fallen silent after a cursory investigation. Court documents show that the massive Rs17,400 crore raised by Sahara India Real Estate Corporation and Sahara Housing Investment Corporation (Saharas) was coolly being funnelled into M/s Sahara India—a registered partnership firm of the promoters. Did our tax sleuths investigate how this large sum was deployed? Isn’t it curious that the Sahara Pariwar does not figure among India’s highest taxpayers, but its advertisement titled “Emotionally Speaking” claims that the Income Tax department is holding back a massive Rs2,000 crore in refunds? Is this even true?

A few years ago, the Reserve Bank of India (RBI) had halted Sahara’s fund-raising exercise but its half-hearted action didn’t go beyond ordering a refund of money raised through its residuary non-banking finance company. In fact, when we repeatedly asked RBI about Sahara’s brazen advertisements offering to repay a massive Rs73,000 crore (see picture) four months ahead of schedule, RBI did not respond.

Why don’t government watchdogs bark about Sahara? This too came out in the litigation, in a very positive way. A strong affidavit by Sanjay Shorey, joint director in the ministry of corporate affairs (MCA), exposed how Sahara had been manipulating the ROC, Kanpur, to back its dubious claims through sworn affidavits before the Allahabad high court. MCA’s affidavit, which Arvind Datar considers a turning point in the case, backed SEBI’s action to the hilt and strongly refuted its own ROC’s claims.

Silencing the Media
With the media spewing information about bigger scams (coal, iron ore, telecom) everyday, it seems contradictory to say that they are reticent about Sahara. So how does one explain the fact that no television channel debated the path-breaking SC judgement? Sahara’s belligerent full-page advertisements in the press and lavish commercials are a large enough source of revenue to silence many media houses. The galaxy of top lawyers hired to defend its bizarre claims and audacious obfuscation even before the apex court and limitless funds for litigation are other deterrents. That is probably why mainstream media have never questioned Sahara’s endless money supply. Popular rumour has it that Sahara invests politicians’ slush money. It is a myth that the group is probably happy to perpetuate (despite protestations in its advertisement), just as the late Harshad Mehta was happy to let people believe that he has access to political funds and Dawood Ibrahim’s investments before the securities scam of 1992 burst the stock bubble he had created. It covered up the fact that he had a fat fund-pipe directly into State Bank of India.

The SC verdict, which includes supervision by a retired judge, is watertight enough for SEBI to demystify the entire Sahara group. But it all depends on whether SEBI is able to use the leeway granted by the Supreme Court to remain two jumps ahead of Sahara’s many games and tricks that are already evident. First, it claimed that tens of thousands of people flocking to its headquarters in Kanpur to inquire about redemptions would lead to a law and order problem. It probably realised that this lie was easily verifiable. Next, SEBI’s investor helpline was inundated with calls and, finally, truckloads of ostensible data were sent to SEBI Bhavan in Mumbai without warning. How is it that Sahara was sending a password-protected compact disc until it lost the case and is now flooding the regulator with paper documents? Has Sahara found time to copy all the documents? Or could it be working towards a situation where it claims a loss-in-transit or finds a way to blame SEBI?

Despite the landmark Supreme Court judgement, the battle of wits between SEBI and Sahara is far from over. On the contrary, Sahara can continue to raise funds through the Sahara Credit Cooperative Society without a problem—after all, not a single political party has expressed the slightest concern about Sahara’s fund-raising, despite the shadowy operations and dubious record-keeping confirmed by the apex court.

Sucheta Dalal is the managing editor of Moneylife. Subscribers get free help in resolving their problems with select providers of financial services. She can be reached at [email protected]


dipti sadana

4 years ago

Being an investor myself, I can relate to the fears and uncertainties of people in times like these. But,
with a company like “Sahara”, these fears seem irrational. They have stood strong for the past 33 years,and braved the storms of resentment and injustice. I see the current situation also as a malicious intent to destabilize the image and position of the company. I would request all my fellow investors to support Sahara, in these turbulent times and have patience and faith in this company.


Vikas Gupta

In Reply to dipti sadana 4 years ago

I don't agree with u at all. Sahara is a totally manupulative company & is Not investor friendly at all.

pradeep nambiar

4 years ago

Sahara has been mysteriously collecting funds from investors since 30 odd years. SEBI, RBI, MCA and now the Supreme Court has called its mobilization illegal.Any lessor company would have been shut down by the Police and their Directors arrested under "Prize chit Money circulation banning act" like it was done in case of "RMP" where Chandan brothers were picked up from their office in Chennai without default. Nmart directors arrested "no default" even when the company had more than 150 malls. In the Nmart case their CMD Gopal Shekhawat was picked up from Surat when his family was undergoing check up and mauled like a petty criminal by the Andhra Pradesh police. Here Sahara has a Supreme court order against them, RBI in a Public Notice has warned investors against investing in them, SEBI has issued Public Notice, ROC-Ministry of Corporate affairs in the Court said it was a fraud. Even then none of their Directors are arrested. In SIREC and SIHCL case the Presiding officer of SAT was shocked that Mr Subrato Roy nor his sons are Directors in their own Company. Mr Subrato roy was a promoter who authorised collection of 40,000 crores but not the Director because being a Director he would be criminally liable. Great Ponzi operators across the world are in Jail. Bernie Madoff was turned on to US authorities by his own family so that only he is arrested and the family let off. Same thing happened to Allan Stanford they all serve Jail sentences to the tune of over 80 years. All eyes are on Sahara Parivar and "Sahara Shri"

suresh kumar gupta

4 years ago

Dear Suchetaji
suresh kumar gupta


4 years ago

Sucheta, you're the best. You're one of the few Indian journalists who deserve to be called a JOURNALIST. The rest are just talking heads chasing TRP's.

Jiyo Sucheta jiyo... aap ko hamaari umr lag jaaye!


Sucheta Dalal

In Reply to Karma 4 years ago

Many thanks. It is very kind of you to be so encouraging.

suresh kumar gupta

4 years ago

Dear sir
your observation is correct. before my termination company has not give me a proper chance to defend me.i am submitting my reply as your pointwise as below.
a) my agency code is 00041214
b) the previous operation officer has blame me as(ki mene uski gardan pakdi. parntu jahan voh bethta hai vah tak mera hath hi nahi pahunch sakta to me uski gardan kaise pakad sakta hun, pl visit personally BALOTRA branch and verify my comments.
c) my former branch manager MR. LOKESH CHAUDHARY AND OPERATION OFFICER MR. HITESH GAUR has the main person to remove me system as they need to do wrong with company. as soon as company has terminate me a BIG FIRE AND THEFT HAS BEEN DONE IN BALOTRA, if you will investigate the both issue you will find great irrregulaties.
d) company response is only one word as there is no change of company decisions.i have not violated any clause of agency agreement. when company has terminate me almost 4 years and 11 months has passed. if one month has passed then company can not stop to give me my renewal commission.
e) i want to HDFC SLIC To activate me CC CORNER Immediately so that i can provide my services to my innocent clients. and cancel my termination and activate my agency agreement.

Suresh kumar gupta
Rawali gali
MOBILE 94141 07928

----- Original Message -----
From: Umesh Gupta
Cc: Tushar Kelkar ; Sanjay Pujari
Sent: Sunday, September 02, 2012 3:24 AM

We are not able to open the attachments in your complaint. If you can describe your complaints in detail, we will be able to direct your complaint to the right department.

As per my understanding (as per the mail below) your agency has been terminated and you were not given sufficient chance to defend yourself. You feel that agency termination has been done because of false complaint of the staff of Balotra branch.

If my understanding is right, please do the following:
a) Mail your agency code.
b) details of all the incidences step wise in the proposal/s..
c) What is your view and which staff has framed you wrongly? What are the wrong things done by them?
d) What has been the company's response? Did anyone talk to you to check details? If yes, who and describe the details.
e) What do you want from HDFC Life now?

To process further, we will require the above details. I am also marking the mail to Tushar Kelkar and Sanjay who take care of complaints and grievances of FC's.

Umesh Gupta | Associate Vice President | Customer Relations | HDFCLife
11th Floor, Lodha Excelus, Apollo Mills Compound,
N. M. Joshi Marg, Mahalaxmi, Mumbai-400011.
Direct: 022 6751 6128 | Board: 022 6751 6666 | Mobile: +91 99209 13009

Integrity |Innovation |Customer Centric |People Care |Team Work |Joy & Simplicity

To: ,
Date: 31/08/2012 02:22 PM


Dear sir
pl read my issue and try to resolve and investigate free and fair conclusion.
suresh kumar gupta
94141 07928
----- Original Message -----
From: Customer Relations
Sent: Wednesday, May 30, 2012 3:17 PM

Good Morning. Thank you for your e-mail of today's date. I confirm that it has been passed to our Group Financial Crime team and they will be in contact with you shortly.

Mike MacPherson 0131-245-2451.



30/05/2012 03:39




Hon sir
I am certified financial consultant of HDFC STANDARD LIFE INSURANCE CO LTD Mumabi.

my code number is 00041214

My request you as under.

1, Company has terminate me on the basis of false complaint of LOCAL STAFF i.e. BALOTRA branch

2. The both person has left the company

3. Due to my termination and lake of services my innocent client has lost almost 20 lakha INR AND POLICY HAS DEACTIVATED.

4. I very humbly request to company to provide the letters/emails/on which basis the company has terminate me but company has not provide the papers.

5.i also pray to company to provide the clause of agency agreement on which basis i have voilete this clouse but company has not replied my a singal word.

Pl help to resolve my issue and reach a free and fa ir investigation in the interest of INNOCENT CLIENTS

the CEO OF HDFC SLIC MR.AMITABH CHAUDHARY mail id is [email protected]

suresh kumar gupta
rawali gali
BALOTRA 344022
MOBILE 94141 07928 Connect With Us On

HDFC Life has been conferred with (See attached file: facebook.gif)(See attached file: twitter.gif)(See attached file: youtube.jpg)(See attached file: linkedin.jpg)(See attached file: googleplus.gif)

This e-mail is confidential, if you are not the intended recipient, do not retain/disclose it and please return it to us. We virus scan and monitor all e-mails but are not responsible for any damage caused by a virus/alteration of our e-mail by a third party after sending.
For more information on Standard Life group, visit our website
Standard Life plc (SC286832), Standard Life Assurance Limited* (SC286833) and Standard Life Employee Services Limited (SC271355) are all registered in Scotland at Standard Life House, 30 Lothian Road, Edinburgh EH1 2DH. *Authorised and regulated by the Financial Services Authority. 0131 225 2552. Calls may be recorded/monitored. Standard Life group includes Standard Life plc and its subsidiaries.

Please consider the environment. Think - before you print.[attachment "facebook.gif" deleted by Umesh Gupta/DPPM/HO/HDFCInsurance] [attachment "twitter.gif" deleted by Umesh Gupta/DPPM/HO/HDFCInsurance] [attachment "youtube.jpg" deleted by Umesh Gupta/DPPM/HO/HDFCInsurance] [attachment "linkedin.jpg" deleted by Umesh Gupta/DPPM/HO/HDFCInsurance] [attachment "googleplus.gif" deleted by Umesh Gupta/DPPM/HO/HDFCInsurance]

Connect With Us On

HDFC Life has been conferred with the "Life Insurer of the Year" Award at the Bloomberg UTV Financial Leadership Awards 2012.
HDFC Life has been honoured with the prestigious IMC Ramakrishna Bajaj National Quality Award 2011 for excellence in the service category.

Please do not print this email unless it is absolutely necessary

DISCLAIMER The information contained in this communication is intended solely for the use of the individual or entity to whom it is addressed and others authorized to receive it. It may contain confidential or legally privileged information. If you are not the intended recipient you are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and is unlawful. If you have received this communication in error, please notify us immediately by responding to this email and then delete it from your system. HDFC Standard Life Insurance Company Limited is not liable for any improper and/or incomplete transmission of the information contained in this communication or for any delay in its receipt or for any damage caused by malicious code or alteration by any third party. The contents of this email do not necessarily represent the views or policies of HDFC Standard Life Insurance Company Limited


Vikas Gupta

4 years ago

Dear Madam,
Once again accept my Congratulations for showing the courage against such a Group, whom against nobody from Media wants to be. Sahara is a totally manupulative & corrupt group.


Sucheta Dalal

In Reply to Vikas Gupta 4 years ago

Many thanks Mr Gupta for your kind comments. Deeply appreciate !
w regards


4 years ago

Indians, at least 90 per cent of them are being taken for a ride by a small section of the rich and the powerful. Voices like this get drowned in the festivities this small section organize to divert public attention from real issues. Those who ‘manage’ media groups with multi-edition and multi-language newspapers and magazines and now the owners of television channels ‘satisfy’ almost all interests which can be satisfied with money. Check out the proportionate-to-influence donations they pay to political parties and the benefits they receive. But, having said that, we should continue the efforts to bring about changes with full faith in the coming generation.

Vaibhav Dhoka

4 years ago

What is the faith of CRB depositors?It is 21 years old cfraud.Delhi high court has appointed liquidator,but public gets no information about it.This is happening in every case from Suman Motels,and plantation companies.They are very clever and knows will which procedure be adopted to LOOT gulliable investor.Therefore few months back in this magazine I wrote Why FD? close to most investors.Now one doubts to invest in mutual fund as most of them are giving NO returns or negative returns after a long WAIT.Even judicial actions does not help due to DELAYED JUSTICE system in India.

P M Ravindran

4 years ago

However good the apex court order may be I will believe that it is less than just till all the regulators who had connived are brought to book! Even the CRISIL and CARE rating are frauds. I remember believing their credit rating and investing a bit of my retirement benefits in Lloyds Finance and not even getting the interest after the 1st quarter! Worse, on my word some of my relations also invested, leaving me in an uncovetable situation later!

arvindkumar baid

4 years ago

Hats off to you. I admire your courage and perseverance to stand for the truth. Just for your information you have written the same thing that i am telling a number of my friends and acquaintances since the judgement. I want to add further that the logo that indian cricket players carry on their official uniform may have made a lacs of gullible people living in rural india believe that sahara is a government organisation. It has used our craze for cricket so effectively to create a big empire without any hype. Now he is using the cricketers for his new venture. I am sure our so called great cricketers, who are not playing for India but a so called Trust (BCCI)which doesn't come under government superivision,must had amassed a very big amount from sahara to appear in its advertisement. Even the business news channel showing programs such as " Pehredaar" and " Fight Back " don't have guts to show the truth and discuss the judgement. Even Maneka doshi of CNBC who discusses a number of judgements and changes in company law in her program "The Firm" has not shown any courage to walk against the winds.


arvindkumar baid

In Reply to arvindkumar baid 4 years ago

Even mr. sanjay pugalia of cnbc awaaz has not shown courage to give an X Ray Report of the Sahara Group.

Currency time-bomb: Counterfeit notes galore with election in the corner!

It is a well known fact that substantial sums of money are used in elections, with cash being used on a much larger scale than ever before. And, unless immediate steps are taken, we may find that huge amounts of fake money in circulation that will create chaotic economic conditions

Only a couple of months ago, we at Moneylife had carried stories on the urgent and imperative need to introduce polymer rupee currency notes. (Polymer rupee notes: Slow or no progress?, What about polymer rupee notes?)
Namo Narayan Meena, minister of state of finance, in a written reply to Parliament, had stated that over Rs15 crore worth of fake currency in Rs500 denominations had been detected. Apart from the Reserve Bank of India (RBI), various banks had also found counterfeit currency, many of which even fooled banking officials, who were given the choice to select the genuine from the fakes, as reported in the press.
Subsequently, in an announcement, the RBI had confirmed that, in fact, they had chosen a few selected centres in the country to introduce, on trial, polymer currency notes of Rs10 denomination to see public reaction. However, how much or how many such notes have been introduced in these markets were not stated, nor, the RBI published any assessment of reaction or acceptability from the public.
Among the test centres were Kochi and Mysore in the South. Now report is on hand that fake currency worth Rs40 lakh have been seized by the Bangalore Police, which were mostly in Rs500 and Rs1,000 notes, and these were in the possession of six West Bengal natives from Malda and their three local accomplices. When immediate tests were carried out on these fake notes, it was revealed that as against the standard 14 security features, the counterfeiters had succeeded in 10-12 counts. Obviously, any lay person would not be able to detect the difference between the genuine and fake, and thus this currency will be in circulation until it reaches a bank!
According to the Economic Offences Wing of the CID, the counterfeiters have been able to get the same ink, printing machinery and paper, most likely to have been secured from the same supply source! For further tests, these notes have been sent to Bharatiya Reserve Bank Mudran in Mysore to ascertain the make of the machine and the paper used.
Prima facie, indications are that the ISI is behind this whole operation, printing the fakes in Pakistan and routing through land routes, though some supplies have come in containers from Dubai, landing in Mumbai, and heading towards Kasargode in Kerala, where they were seized.  Customs and excise inspectors lament as to how many such may have expected into various parts of the country. No reports have appeared about fake currency notes being seized from other centres.
The epicentre of this counterfeit currency appears to be Malda, in West Bengal, according to the Police sources, and with easy infiltration from Bangladesh refugees and other forms of carriers, such fakes can easily move into India.
So, what is the big worry about counterfeit currency in the country? This sort of thing has been going on for decades? A lot, considering the prospects for early Lok Sabha elections scheduled in 2014, unless the political situation precipitates sudden changes.
It would appear the very purpose of having test runs with Rs10 polymer currency notes by the RBI was to see and assess the market reaction and, perhaps, introduce the polymer notes on a gradual basis, if and when a final decision is taken by the government. We need to take care of higher denominations rather than small notes!
It is a well known fact that substantial sums of money are used in elections, with cash being used on a much larger scale than ever before. And, unless immediate steps are taken, we may find that huge amounts of fake money will be in circulation that will create chaotic economic conditions, adding to inflation.
Whether anyone is willing to admit it or not, the fact remains, that Pakistan, through its ISI is bent upon bringing about economic earthquake in India with devastating effect. Political talks may continue but India needs to be realistic and practical in its approach on such matters as economic stability in the country.
As an immediate step, the RBI must place huge orders to print polymer rupee currency notes with Australia (and others) for Rs500 and Rs1,000 denominations and start putting them into circulation immediately.
We are late in combating this menace, but it is never too late to start building brides before the flood washes out our economic system. It is grim.
(AK Ramdas has worked with the Engineering Export Promotion Council of the ministry of commerce and was associated with various committees of the Council. His international career took him to places like Beirut, Kuwait and Dubai at a time when these were small trading outposts; and later to the US. He can be contacted at [email protected].)



Dr Anantha K Ramdas

4 years ago

Cashless economy is a distant dream as far as India is concerned. With a very large illiterate population, we have somehow managed to deal with the existing system.

Even the debit and credit cards are recent addition to the family use, and that too by the
educated few.

In villages people still hoard currency notes and coins which they are more familiar with and this one reason why we need to bring in polymer notes which are not edible for white ants! Once the bulk of the Rs 500/1000 paper notes are replaced by polymers, it will be a great leap to overcome the fakes in circulation and most definitely reduce it. Total replacement can only happen by demonitising and that would take more than 10 years to achieve!

The poor in India today know how to use the cell phone but use of credit cards, banking etc will need some more time and a good amount of effort.

Amol Phalke

4 years ago

As I understand - yes we are trying to replace current paper currency
with polymer currency which is possibly difficult to counterfeit
because of technological sophestications but are we trying to solve this
problem superficially by doing so...

The amount of currency money in India is huge as compared to bank money and
that too most of the currency money is held in higher denomination notes Rs. 100, 500, 1000.
In such scenario counterfeiting creates huge economic nuisance.

RBI at one hand is having vision of cashless economy.

Isn't it wise to demonetize high denomination notes and promote bank money rather than
recurringly spend money on printing new sophesticated currency which is bound to be counterfeited if
not immediately then after some time when equivalent technology is made available?

We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)