Thursday , December 13 2018

Abdul Karim Telgi, Man involved in whopping Rs 20,000 Crore scam, Died Yesterday

The key player of multi-crore fake stamp paper scam offender Abdul Karim Telgi died yesterday.

Abdul-Karim-Telgi

The key player of multi-crore fake stamp paper scam, Abdul Telgi had died yesterday. He expired of multi-organ failure at Victoria hospital in Bengaluru. He was of 56 years old and was struggling for life for around a week. He was on ventilator and life support structure after being self-confessed to Victoria Hospital for meningitis, doctors stated. “Telgi is no more. He blew his last at 3.55 pm. He was undergoing multi-organ failure,” Dr. Balaji S Pai of the hospital, who attended the hospital, said, rendering of reports.

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Here is all you want to know about Abdul Karim Telgi

Abdul Karim Telgi is lived by wife, daughter, and son-in-law.

After his imprisonment in Ajmer in November 2001 in association with the fake stamp paper scam, Telgi was condemned to 30 years’ severe imprisonment by a court 5 years later. In addition, he was hit with a huge fine of Rs 202 crore.

Telgi’s counsel had in the past purported in the court that he was administered HIV-infected syringe though, in prison, a charge police and the prison authorities had excluded outright.

The key player of the scam was lodged at the Parapana Agrahara central jail for the past 16 years.

He was in newscast after the then DIG (Prisons) D Roopa newly alleged that Telgi was amid several prisoners who got special treatment in the jail. She had stated that he was given exceptional massages by three or four convicts assigned to him.

Telgi’s parents were government employees who had worked with the Indian Railways. Yet after the demise of his father, Telgi was enforced to take up odd jobs and used to trade eatables on trains. Finally, he moved to Saudi Arabia.

The security and intelligence agencies had put the size of the scam at a mind-baffling Rs 20,000 crore. Yet, some other evaluates ranged from Rs 3,000 crores to Rs 30,000 crores. The scam had exaggerated the nation’s financial and other marketplaces.

Coming from Khanapur in Belagavi district in Karnataka, Telgi had begun his life as a vegetable vendor in trains.

After the scam was bust, the investigation agencies revealed that he ran the commercial like a mega industry by recruiting around 350 agents. They had sold the duplicate stamp papers of numerous denominations in bulk amount to banks, stock brokerage firms, insurance companies and the corporates. Top police officials and people in power were purported to be his assistants.

The Karnataka government created an investigation team named ‘STAMPIT’ but as the nationwide network of the scam extended, the investigation was taken over by the CBI.

In his first sentence in 2006 under the Maharashtra Control of Organised Crime Act and Indian Penal Code 120 (criminal conspiracy), Telgi was condemned to 10 years rigorous custody and for the rest 20 years in 4 different cases.

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