5. Speak Asia Scam

Speak Asia, a multi-level marketing company that claimed to be Asia’s largest online survey company. The company asked new customers or subscribers to pay $120 as a subscription fee charges for a year.

After collecting a huge amount of Rs 2, 276 crore from more than more than 24 lakh investors, Speak Asia enclose its operations in India in mid-2011. It was found that Speak Asia diverted the money to countries like, Brazil, Malaysia, Singapore, Dubai and Italy.

Speak Asia promoter Ram Sumiran Pal, was arrested by Delhi crime branch in 2013 for a massive online scam of Rs 2,200 crore.

6. CRB Scam

One of the masters of fraud in India, C R Bhansali was convicted of pulling funds from 133 companies. He presented fake plans of high interest rates and entry into mutual fund and banking. And thus collected huge cash from FDs, MFs and invested them in stocks for personal gains.

But the mid 90s marked a total downfall for Bhansali as he was beaten up in the stock markets. Later on Bhansali was arrested in 1997.

Read More: 5 Biggest Investment Risks You Face