SEBI busts ₹2,950 cr ponzi scheme promising 10-12% monthly returns

SEBI has busted a ponzi scheme worth over ₹2,950 crore, promising investors monthly returns of 10% to 12%. The scheme involved financial services firm Trdez Investment, registered with SEBI, which asked investors to send money to associate firms like Infinite Beacon and IB Prop Desk. SEBI has imposed a ₹1 crore fine on Trdez Investment for misusing broker licence.