Scam 2003: The Telgi Story is all set to focus on Abdul Karim Telgi, the mastermind behind the fake stamp racket. The previous season, Scam 1992, followed the securities scam of 1992, involving infamous stockbroker Harshad Shantilal Mehta, that led to sweeping stock market reforms and revealed loopholes in the country's banking sector.
The first season of the show was helmed by Hansal Mehta. But who is the titular character for the second season? And what did he do?
The Backstory
Abdul Karim Telgi started off as a fruit-seller in Karnataka, Khanapur. His parents worked with the Indian railways. But after he lost his father, he was forced to start working for a living. He financed his education during this time while simultaneously taking care of his family.
Later, he left for Saudi Arabia. But returned soon after and shifted to Mumbai to work as a travel agent. He sold fake immigration clearance documents for labourers looking for work in Gulf countries. He was arrested on charges of forgery and cheating in 1991. But after serving his sentence, he got involved in another racket.
The Fake Stamp Racket
Telgi started forging stamp papers, which were essential during that time for a host of legal needs. But they were always in short supply and therefore in great demand. He got hold of the old machines that were sold off at auctions that were decommissioned by Nashik Security Press, to print out the stamp papers. Initially, he sold them for at ₹100 a stamp paper.
Over the next 6-7 years, he kept buying similar machinery for making fake stamp papers.
His buyers included not only the common people but also banks, brokerage companies and insurance companies. Along with fake stamp papers, he made judicial court fee stamps, notarial stamps etc.
The racket would not have subsisted without the support of police officials. They continued to show support even during the time it was falling apart. Some police officials were also arrested in link to the case.
Life After Arrest
He was arrested in 2001 and was sentenced to 30 years in prison in 2007. On the other end, he frequented dance bars and was rumoured to spend a substantial amount of money on the dancers.
In 2002, he tested positive for HIV. By this time his racket was also unravelling and several investigations were ongoing.
Death and Court Hearing
He later died of multiple organ failure in 2017. But ironically, he was acquitted, a year after his death, by the Nashik sessions court as they did not have enough evidence against him.
(With inputs form CNBC TV18 and The Hindu)
(This article is from The Quint's archives and was first published on 26 May 2022. It is now being republished to mark the release of Hansal Mehta's upcoming show Scam 2003: The Telgi Story).
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