Last Updated: 11.07 AM, May 23, 2022
Scam 1992 gets a sequel
Sony LIV has announced the sequel to its 2020 superhit show, Scam 1992. Titled Scam 2003, the show is expected to deal with the Stamp Paper Scam this time around. Although 1992 was about Harshad Mehta and Stock Market scam, this time it is likely to be Abdul Karim Telgi and Stamp Paper scam.
What is the show based on?
Scam 2003 will be based on a journalist named Sanjay Singh’s book called ‘Reporter Ki Diary.’ Like Sucheta Dalal exposed Harshad Mehta’s scam in 1992, Sanjay exposed Telgi scam in 2003.
Who is Abdul Karim Telgi?
Abdul Karim Tegi grew up in a house where he had to pay for his own expense. He sold fruits and vegetables to cover his education. Telgi moved from Nashik to Mumbai but in hopes of earning fast money, he then moved to Saudi Arabia. Unhappy with his work there, Telgi moved back to Mumbai and started his own travel agency named Arabian Metro Travels which made fake passports and documents for people who wanted to travel to Saudi Arabia. Having tasted success through fraud, he thought about ‘expanding his business’ through making fake paper stamps.
What was the Stamp Paper scam?
There came a time when Telgi was arrested and imprisoned for making fake passports and documents. There, he met his business partner, Ratan Soni. They started the fake stamps business together by putting their influential contacts together. Soni would deal in stock exchange. Thus, he knew politicians and government officials well. As business partners, Telgi and Soni made connections with the underworld too, making them untouchable as they run the Stamp Paper scam (mixing real stamp paper with fake for huge profits). The two managed to get legal license for stamp vending in 1994. Telgi build his contacts by visiting auctions where Indian Security Press would sell their junk machinery.
Was it only stamp papers?
One could only wish Telgi stopped at stamp papers. However, he had the greed to earn more and become the richest man alive. Thanks to that, he also ventured into money laundering fraud.
How was he caught?
The usual. Telgi and Soni parted ways in the late 90s. Telgi grew his business to a level one can barely even imagine. His business expanded to various cities across India and no surprise, Telgi wanted to take his business International too. He earned in crores and there was no way of proving how he did it. After the Bengaluru police got a tip in 2000, Telgi was finally caught in Ajmer in 2001.
Anna Hazare also involved
A well-known figure Anna Hazare was involved in this scam, from the other side. He filed a petition against Telgi in 2003, which is when Telgi’s scam was unearthed. He had 36 properties across India, 100 accounts in 18 cities. The scam, as per reports was between Rs. 3,000-30,000 crores.
Was justice served?
After everything was in the open, Telgi was sentenced to 30 years of imprisonment. He also had to pay a fine of Rs. 202 crores. This happened in the year 2006. 11 years later i.e. in 2017, Telgi died of multiple organ failure in Bengaluru’s government hospital. He was 56 at the time. In 2018, he, along with his partners, were acquitted from the case due to absence of strong evidence.
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