Abdul karim telgi dead the fake stamp paper scam you should know about

Abdul Karim Telgi dead: The fake stamp paper scam you should know about

Abdul Karim Telgi dead: The fake stamp paper scam you should know about on Business Standard. Abdul Karim Telgi dies: The stamp paper scam that shook the nation

Latest News Abdul Karim Telgi, the kingpin of the multicrore fake stamp paper scam that shook the country over a decade ago, died of multi-organ failure at a state-run hospital in Bengaluru on Thursday. He was battling for life for about a week.

The stamp paper scam Acquiring a stamp paper licence in 1994, Telgi opened an office at Mint Road in Mumbai. He was said to have befriended several officials in the revenue ministry, stamp office and Nashik Security Press where stamp papers scam were printed.

Telgi was also accused of having used his political clout to get the machinery at the Nashik press declared as 'junk' only to buy it and setting it up at his office in Mumbai.

He also allegedly obtained the original dye for printing in connivance with Nashik press security officials and began printing fake stamp papers.

After the scam was busted, the investigation agencies discovered that he ran the business like

a mega industry by recruiting 350 agents. They had sold the duplicate stamp papers of various denominations in bulk to banks, insurance companies, stock brokerage firms and corporate houses.

Top police officers and people in power were alleged to be his accomplices.

Arrest and aftermath Telgi ran his fiefdom in counterfeit stamp papers for almost a decade till he ran out of luck in 2001 when his network was busted, leading to his arrest.

During the narco-analysis test, he had allegedly named some influential people as his partners in crime.

The arrest of two men transporting fake stamp papers in Bengaluru in 2000 had led to the unearthing of the scam.

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