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Top 10 Investment Scams

By siliconindia   |   Monday, April 30, 2012   |    1 Comments
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Bangalore: Indian financial industry has always been successfully able to regulate according to the alterations and expansions of India’s fiscal policy. In spite of all it endeavors to develop the financial market, it remained ineffective and futile, especially due to three major factors – inadequate management, stringent accountability and proper punishment. Hence Indian capital market has always triggered by one or the other investment scandals. Here are ten such scams which have seriously annoyed its investors.

1. The 1998 Scam

Harshad Mehta, the scamster of 1992 scam, came back with awful and treacherous money tricks again in 1998. In 1992, Mehta and his brothers were arrested by the CBI, for allegedly "misappropriating more than 27 lakh shares of about 90 companies, including Sensex heavyweights such as ACC and Hindalco, through forged share transfer forms.'' In 1998, he decoyed investors through a website which offered trading stock tips. His incessant exploitation of numerous shares resulted in the much expected collapse of Bombay Stock Exchange (BSE).


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