4 Biggest Banking And Market Scams Of India
Bangalore: The recent scam incidents in the country have not only caused India to loose huge amount of money but have also cost the trust vest in the system. Few of the biggest scams in the country comprises the 2G spectrum scam, Commonwealth games Scam etc and these scams involve few of the most reputable names in the country.
Read on to know 4 biggest markets and banking scams in ten years listed by Economic Times.
1. 2003-05 IPO scam
The 2003-05 IPO scam came into limelight when an investigation into Yes Bank IPO found market investor had unlawfully got shares in the primary market. Some individuals had acquired shares intended for retail candidates using benami demat accounts. Same happened with IDFC IPO. The regulatory action was taken by Sebi, regulator of capital markets.