Top 10 business scams in India
By siliconindia   |   Monday, 08 August 2011, 15:37 IST   |    32 Comments
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3. Telgi Scam
One of the most dramatic scams in India, Abdul Karim Telgi was the mastermind behind the whole idea of printing forged duplicate stamp papers that made its way into the banks and other institutions. Estimated at a massive cost of Rs 20000 crore, the fake stamp paper and stamp had infiltrated 12 states. Reports also suggest that the kingpin had government backing which was held responsible for the selling and production of high security stamps.