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Tuesday, October 18, 2011

Proved and suspected scams in India since Independence

What Indians got from Democracy? Every year new scams, and economical frauds are coming out. Public is really confused about the real facts behind all these scams. Some scams are proved by investigation agencies and some others are still under investigation.

india scamsThe culprits usually gets enough time to skip or delay any sort of punishment according to present law in India. Some of these cases are proved by authorities and indicted persons got imprisonment according to law. In certain cases, accused people are acquitted, but people still believes that there was a scam. The following information collected from various sources including old newspapers.

If any more scams that you know, please comment here. We will add it in next post.

  • Jeep Purchase 1948 - Rupees 80 lakhs
  • Banaras Hindu University 1956 - Rupees 50 lakhs
  • Mundhra Scandal 1957 – Rupees 1.2 crores
  • Teja Loans 1960 – Rupees 22 crores
  • KUO Oil deal 1976 – Rupees 2.2 crores
  • HDW commissions 1987 – Rupees 20 crores
  • Bofors Case 1987 – Rupees 65 crores
  • St. Kits Forgery Case 1989 – Rupees 9.45 crores
  • Airbus Scandal 1990 – Rupees 2.5 crores
  • Securities Scam 1992 – Rupees 5000 crores
  • Indian Bank Scam 1992 – Rupees 1300 crores
  • Sugar Import Scam 1994 -  Rupees 650 crores
  • JMM Bribing case 1995 – Rupees 1.2 crores
  • Fodder Scam 1996 – Rupees 950 crores
  • CRB scams 1997 – Rupees 1000 crores
  • Stock Market Scam 2001 – Rupees 1,15000 crores
  • Stamp Paper Scam 2003 – Rupees 30,000 crores
  • Scorpene Submarine Scam 2005 – Rupees 18,978 crores
  • Ali Khan Tax Default 2008 – Rupees 50,000 crores
  • Satyam Scam 2008 – Rupees 10,000 crores
  • 2G spectrum scam 2008 – Rupees 1,76,000 crores
  • Rice Export Scam 2009 – Rupees 2500 crores
  • Orissa Mine Scam 2009 – Rupees 7000 crores
  • Commonwealth Games Scam – Rupees 40,000 crores
  • Illegal Money in Swiss bank and other foreign bank accounts – Rupees 71,00,000 crores

Count this up. Comment here how much is the total value.

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