The mastermind behind the multi-crore fake stamp paper scam breathed his last yesterday. A vegetable vendor from a low-income group made a meteoric rise as one of India’s richest businessman. The only problem was – Telgi made a fortune out of counterfeiting. Seeking help from many; ranging from Government authorities to Police Officials, Telgi is perfect example how one can make an enormous fortune out of nothing just by knowing the wrong tricks of the trade.
A lot has been written about Telgi; but here are some unknown facts that you probably didn’t know about him!
Abdul Karim Telgi belonged to a middle-class household and was the son of a railway employee. He himself worked as a vegetable and fruit vendor who minded his everyday small-scale business. He later shifted to Saudi and on his return to Mumbai after 7 years, forged links with the underworld.
He was then put in to jail for cheating. This is where he learnt useful tricks of the counterfeiting trade, while in jail.
Once well-versed in the counterfeiting trade, Telgi used his connections to get his hands on the counterfeiting printing machine (stamp papers). He ensured the machine was declared as junk was later brought to Mumbai on his demand and clout. Telgi also got his hands on the dye required for printing.
His clientele included bank officials, insurance companies, brokerage firms and corporate clients. He ran his business smoothly for almost a decade thanks to corrupt police officers and politicians.
As per estimates, his empire was worth over 15,000 Crores. Telgi’s luck ran out in the year 2003 when the long arm of law caught up with him. He also named and blamed several renowned people during his narco-analysis test.
Surely, there are still many more Telgis out there who haven’t been apprehended by the law.
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