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Abdul Karim Telgi (born 1961) is a convicted Indian counterfeiter. He earned money by printing counterfeit stamp paper in India. He cited Sharad Pawar, then the chief of NCP party , name in relation to a INR600 billion (US$10 billion) stamp-paper scam, during a narcoanalysis filmed by various Indian news channels, wherein he also mentioned NCP leader, and former Deputy Chief Minister of Maharastra Chhagan Bhujbal.[1]

Early life[edit]

Telgi's mother was Shariefabee Ladsaab Telgi,[2] and his father was an employee of Indian Railways.[3] His father died while he was young. Telgi paid for his own education at Sarvodaya Vidyalaya, an English medium school, by selling fruit and vegetables on trains. Eventually, he moved to Saudi Arabia. Seven years later, he returned to India, at which time he began a career in counterfeiting, originally focusing on fake passports.i[3]

Counterfeiting career[edit]

Telgi moved to more complex counterfeiting when he began to counterfeit stamp paper. He appointed 300 people as agents who sold the fakes to bulk purchasers, including banks, insurance companies, and share-broking firms. The size of the scam was estimated to be more than INR200 billion (US$3.3 billion).[4] One aspect of the scandal that caused much concern was that it required the involvement of many police officers and other government employees including Nikhil Khotari. For example, one Assistant Police Investigator was found to have a net worth of over INR1 billion (US$17 million), despite making a salary of only INR9,000 (US$150) per month.[3]

On 17 January 2006, Telgi and several associates were sentenced to 30 years rigorous imprisonment.[5] On 28 June 2007, Telgi was sentenced to rigorous imprisonment for 13 years for another aspect of the scandal. He was also fined INR10 billion (US$170 million). The Income Tax Department requested that Telgi's property be confiscated to pay the fine.[6]

In popular culture[edit]

Mudrank (The Stamp) is a film based on the stamp scandal. It was finished in 2008, but Telgi filed legal challenges to prevent its release.[7] Telgi alleged that the details covered in the film would damage his legal appeals. As of April 2014, the film has not yet been released.

References[edit]

  1. ^ "Telgi names Sharad Pawar in scam". CNN-IBN Live. 7 September 2006. Retrieved 2 February 2011. "Politicians are the backbone of this business" 
  2. ^ "Telgi attends mother's funeral". The Hindu. 13 January 2005. Retrieved 27 May 2011. 
  3. ^ a b c Dharker, Anil (30 November 2003). "Telgi is so Indian". The Hindu. Retrieved 27 May 2011. 
  4. ^ "Telgi Scam". The Financial Express. 19 November 2003. Retrieved 27 May 2011.  Archived here.
  5. ^ "Stamp paper scam: Telgi gets 10-year RI". indianexpress.com. Indian Express. 2011. Retrieved 7 November 2011. 
  6. ^ "Telgi gets 13 years jail, Rs 1000 crore fine". Rediff India Abroad. 28 June 2007. Retrieved 27 May 2011. 
  7. ^ "Telgi unhappy with Mudrank". The Times of India. 23 April 2008. Retrieved 27 May 2011. 

Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Abdul_Karim_Telgi — Please support Wikipedia.
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2 news items

Daily News & Analysis

Daily News & Analysis
Fri, 18 Jul 2014 23:43:09 -0700

The mastermind of the scam, Abdul Karim Telgi, printed fake stamp papers with the help of some government officials of the Central governments Security Printing Press (India Security Press) located in Nashik. In may 2004, CBI seized fake stamp papers ...
 
Daily News & Analysis
Wed, 09 Jul 2014 05:24:26 -0700

In 2004, the prime accused in the multi crore stamp paper scam, Abdul Karim Telgi had allegedly admitted that he had given payments to Bhujbal. While in 2012, the Mumbai Educational Trust (MET) filed a criminal complaint against Bhujbal, alleging ...
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