The Great Indian Financial Frauds

The art of conning is a skillful deception executed successfully by the best brains for a definite period. Charles Ponzi, an Italian-born American immigrant, masterminded one of the first  international trading fraud in the early twentieth century. India had its fair share of financial frauds in the last few decades. Be it the Rs5,000 crore UTI scam or the 2008 Satyam fiasco, scams have routinely hit the headlines. We look at 20 of the most prominent scam that hit India space. 1998 Vanishing Companies What Happened: More than 650 companies raised money and then vanished from stock markets. Current Status: Only 77 companies officially identified Estimated: More than Rs800 crore SEBI was probing few companies which disappeared after raising money from the stock markets. In May 1998, it names 80 companies that had raised close to Rs330 crore. Later, the case was handed...