Mumbai: India's financial domain has been marred by a series of sensational scandals that have sent shockwaves throughout the nation. Ranging from the colossal Telgi scam, which ran into hundreds of crores, to the infamous Commonwealth Games scandal, these are the tales of India's most significant financial frauds in recent history.
Vijay Mallya
Vijay Mallya, infamous as the "King of Good Times," turned out to be a mastermind. His Kingfisher Airlines defaulted on loans worth over Rs 9,000 crore which led to his departure from India, making headlines and even inspiring documentaries like ‘Bad Boy Billionaires: India’s’ by Minnow Films.
Abdul Karim Telgi
The name Abdul Karim Telgi became synonymous with the monumental stamp paper scam in 2003. He orchestrated a sophisticated racket involving counterfeit stamp papers, causing a loss of approximately Rs 30,000 crore making it India’s biggest financial scam to date. The story of his fraudulent empire is set to be revealed in Applause Entertainment’s upcoming series ‘Scam 2003- The Telgi Story’ on SonyLIV.
Nirav Modi
Nirav Modi's involvement in the Rs 14,000 crore Punjab National Bank (PNB) scam sent shockwaves through the nation. This jewellery tycoon's alleged involvement in fraudulent transactions sparked an international manhunt. This also features in the docu-series Bad Boy Billionaires by Minnow Films and ‘In the Shadows of the Indian Banking Crisis' by DW News.
Harshad Mehta
Harshad Mehta's securities scam of 1992 was one of the earliest to shake India's financial fabric. Exploiting loopholes in the banking system, he manipulated stock prices, leading to a market crash. Applause Entertainment's portrayal of this scandal adds a dramatic touch to the intriguing story.
Subrata Roy
Subrata Roy, the founder of Sahara Group, was implicated in a massive financial scandal involving unregulated deposit schemes. Roy collected billions from investors with the promise of high returns, ultimately defrauding many. His story is featured in ‘Bad Boy Billionaires: India’.
