The Telgi Scam, also known as the Stamp Paper Scam, was a massive financial scandal that started in 1992 and came to light in 2003. The scam was named after its mastermind, Abdul Karim Telgi, who was involved in a complex counterfeiting operation, initially focusing on fake passports and later expanding to counterfeit stamp paper.
Abdul Karim Telgi appointed 300 people as agents who sold the counterfeit stamp papers to bulk purchasers, including banks, insurance companies, and stock brokerage firms. The size of the scam was estimated to be more than ₹100 billion (US$1.3 billion), making it a significant event that shook the Maharashtra financial system.
One aspect of the scandal that caused much concern was the involvement of many police officers and other government employees, including Nikhil Kothari. Telgi and several of his associates were sentenced to 30 years of rigorous imprisonment on 17 January 2006.
