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8 scams that rattled the Indian stock markets
Investors have not received their hard-earned money back in several high-profile cases.
Take a look at 8 biggest scams that shocked the stock markets...
Compiled by Mayank Mishra
8 scams that rattled the stock markets
Harshad Mehta scam
Estimated Size: Rs 4,000 crore
Central figure: Harshad Mehta
Discovered: In 1992
Modus Operandi: Used money from banks to make personal gains via investment in shares
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8 scams that rattled the stock markets
CRB Scam
Estimated Size: Rs 1,200 crore
Central Figure: CR Bhansali
Discovered: 1996
Modus Operandi: Raised public money through FDs, MFs and debentures via nonexistent firms and invested them in stocks for personal gains
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8 scams that rattled the Indian stock markets
Ketan Parekh Scam
Estimated Size: Rs 800 crore
Central Figure: Ketan Parekh
Discovered: 2001
Modus Operandi: Circular trading in selected stocks via borrowed money from banks to manipulate share prices
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8 scams that rattled the Indian stock markets
Satyam Scam
Estimated Size: Rs 14,162 crore
Central Figure: Ramalinga Raju
Discovered: 2009
Modus Operandi: The top management of the software company cooked up accounts to show inflated sales, profits and margins from 2003 to 2008.
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8 scams that rattled the Indian stock markets
Sahara Housing Bonds
Estimated Size: Rs 24,029 crore
Central Figure: Subrata Roy
Discovered: 2010
Modus Operandi: Bonds issued to 29.6 million investors without following Sebi regulations and investor protection measures mentioned therein
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8 scams that rattled the Indian stock markets
Speak Asia
Estimated Size: Rs 2,200 crore
Central Figure: Ram Sumiran Pal
Discovered: 2012
Modus Operandi: Investors were asked to subscribe to an e-magazine for a certain sum, after which they became eligible to answer surveys and got paid for each survey.
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8 scams that rattled the Indian stock markets
Saradha Scam
Estimated Size: Rs 10,000 crore
Central Figure: Sudipta Sen
Discovered: 2013
Modus Operandi: Ran multiple investment schemes collecting money from nearly 1.4 million investors in West Bengal and Odisha
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8 scams that rattled the Indian stock markets
NSEL Scam
Estimated Size: Rs 5,600 crore
Central Figure: Jignesh Shah
Discovered: 2013
Modus Operandi: Investors were wooed by offering fixed returns on paired contracts with agri and industrial commodities as underlying. the stocks were missing and money was allegedly siphoned by so-called borrowers
