1 “ “ All my lifetime's savings are gone. I All my lifetime's savings are gone. I don't know how to feed my family." don't know how to feed my family." - A small investor hit by the Ketan - A small investor hit by the Ketan Parekh scam, in April 2001. Parekh scam, in April 2001. ” ”
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““All my lifetime's savings are gone. All my lifetime's savings are gone. I don't know how to feed my family."I don't know how to feed my family."
- A small investor hit by the Ketan - A small investor hit by the Ketan Parekh scam, in April 2001.Parekh scam, in April 2001. ” ”
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KETAN PAREKH AND 2001 KETAN PAREKH AND 2001 SCAMSCAM
REPUBLIC OF SCAMSREPUBLIC OF SCAMSRamlinga Raju , Founder, Ramlinga Raju , Founder,
Satyam Computers.Satyam Computers.Amount : Rs.8,000 CrsAmount : Rs.8,000 CrsThe fraud: Cooked up The fraud: Cooked up account books of his account books of his company.company.Method: Inflated revenues Method: Inflated revenues and hid liabilities.and hid liabilities.
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REPUBLIC OF SCAMSREPUBLIC OF SCAMSHarshad Mehta,Broker.Harshad Mehta,Broker.
Amount : Rs.4,000Cr Amount : Rs.4,000Cr The fraud: The fraud: Responsible for the Responsible for the securities scam of securities scam of 1992.1992.Method: Accused of Method: Accused of diverting funds from diverting funds from banks to stock brokers banks to stock brokers
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REPUBLIC OF SCAMSREPUBLIC OF SCAMS
Dinesh Dalmia former Dinesh Dalmia former MD, DSQ Software.MD, DSQ Software.
Amount : Rs.595 CrAmount : Rs.595 Cr
The fraud: Dalmia The fraud: Dalmia resorted to illegal ways resorted to illegal ways of making money of making money through the shares of through the shares of DSQ softwareDSQ software..
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REPUBLIC OF SCAMSREPUBLIC OF SCAMS
KETAN PAREKH - 1500 Cr(AGGREGATE BORROWINGS)
C R BHANSALI - 1200 Cr
UDAY GOYAL- 210 Cr
ABDUL KARIM TELGI - 171.33 Cr
VIRENDRA RASTOGI - 43 Cr
THE UTI SCAM – 32 Cr
SANJAY AGARWAL – 92 Cr
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INDIAN ECONOMY THROUGH THE SCAMINDIAN ECONOMY THROUGH THE SCAM
PANIC RUN ON THE BOURSES
TOTAL WEALTH OF APPROX $32B WAS WIPED OUT IN MARKET CAPITALIZATION
SENSEX LOST 700 POINTS
SHOCK WAVES FELT IN CALCUTTA & OTHER FINANCIAL CENTRES
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INDIAN ECONOMY THROUGH THE SCAMSINDIAN ECONOMY THROUGH THE SCAMS
BANK OF INDIA,SBI,PNB SUFFERED HUGE LOSSES
TOTAL BANKING LOSS OF 12000 MILLIONS ACCORDING TO RBI
NEXUS OF BIG INSTITUTIONAL INVESTORS-BUSINESSMAN-BANKER-OFFICIAL-POLITICIAN MANIPULATED
FINANCIAL MARKETS
HUNDREDS OF INVESTORS ON THE BRINK OF BANKRUPTCY
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WHY STOCK MARKETS WHY STOCK MARKETS ATTRACT USATTRACT US