Financial Scams - myfinopedia.com

Uncover The Truth As Gautam Adani Faces Accusations Of Corporate Fraud!

A damning 100-page report by activist investment firm Hindenburg Research on Gautam Adani and his organisation made serious accusations of stock manipulation and widespread fraud. Hindenburg Research, an activist investment firm, published a scathing 100-page report on Gautam Adani and his company. The third richest man in the world’s sprawling empire has already lost billions …

Uncover The Truth As Gautam Adani Faces Accusations Of Corporate Fraud! Read More »

Palmolein Oil Import Scam

The Palm Olein Import Scam refers to allegations of corruption in the import of palm olein by K. Karunakaran, the leader of Kerala’s United Democratic Front government. The Kerala government chose Power and Energy Limited at random, without seeking offers. How was the scam discovered? The Kerala government purchased 15,000 tonnes of palm oil from …

Palmolein Oil Import Scam Read More »

Sukh Ram Telecom Equipment Scandal

Finance and Economy, Financial Scams / By My Finopedia / December 9, 2022 December 9, 2022

It has been nearly three decades since the Sukh Ram telecom equipment scandal first made headlines. The case, which began in 1996, centered on allegations that Sukh Ram, a former Cabinet minister in the Indian government, had accepted bribes in exchange for awarding contracts to favored companies. Sukh Ram was forced to resign from his …

Sukh Ram Telecom Equipment Scandal Read More »

Hawala Scandal

Finance and Economy, Financial Scams / By My Finopedia / November 30, 2022 November 30, 2022

The Hawala scandal was a major Indian financial scam involving black money sent by politicians through hawala brokers in 1991. Some of the country’s top politicians were implicated in an 18-million-dollar bribery scandal. How did Scam become well-known? After getting arrested in 1991, Ashfaq Hussain, a suspected member of the terrorist organization revealed large-scale payments …

Hawala Scandal Read More »

Jalgaon Housing Scam 1996

Finance and Economy, Financial Scams / By My Finopedia / November 24, 2022 November 24, 2022

The Jalgaon housing scam was a financial fraud in the Maharashtra city of Jalgaon and involved the illegal diversion of approximately Rs 110 crore in loaned public municipal funds. The funds were designated for a 1996-launched project to construct over 11,000 subsidized housing units. The incident is one of the largest scams in Maharashtra’s history. …

Jalgaon Housing Scam 1996 Read More »

The Harshad Mehta Scam: BSE Ka Bachchan!

Finance and Economy, Financial Scams, Stocks Market / By Shamsullaqa Sheikh / November 14, 2022 November 14, 2022

In 1992, the Harshad Mehta scam wiped out more than a third of the market valuation and led to many changes made in the Indian stock market by the government. Harshad Mehta’s $1.3 billion stock market manipulation paved the way for more robust, stricter, and intelligent market regulation. He convinced banks to transfer funds to …

The Harshad Mehta Scam: BSE Ka Bachchan! Read More »

Major Financial Scams in India Between 2010-2022 (Part-3)

Finance and Economy, Financial Scams / By Shamsullaqa Sheikh / November 6, 2022 November 24, 2022

1. Commonwealth Games Scam 2010 When India hosted the Commonwealth Games in 2010, approximately 70,000 crores were stolen from the country’s coffers. It is estimated that only half of the money set aside for Indian athletes was spent. The organizing committee of the 2010 Commonwealth Games in India awarded Swiss timings a contract worth 141 …

Major Financial Scams in India Between 2010-2022 (Part-3) Read More »

Major Financial Scams in India Between 2000-2010 (Part-2)

Finance and Economy, Financial Scams / By Shamsullaqa Sheikh / November 5, 2022 December 22, 2022

1. Ketan Parekh securities scam 2001 Ketan Parekh was a trainee at GrowMore, Harshad Mehta’s company. He was a suspect in several frauds in which Growmore was involved. When the dot-com bubble burst in the late 1990s, he began investing in low-liquidity IT and telecom firms. Because of the significant increase in the value of K-10 …

Major Financial Scams in India Between 2000-2010 (Part-2) Read More »

Major Financial Scams in India Between 1990-2000

Finance and Economy, Financial Scams / By Shamsullaqa Sheikh / November 4, 2022 November 30, 2022

In recent years, we have all witnessed numerous financial scams in India involving the losses of thousands of crores of rupees. In this article, we will discuss the significant financial scams in India. Remember, these are only the ones that have been revealed and many are yet to be uncovered. The number of people involved …

Major Financial Scams in India Between 1990-2000 Read More »