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Jaswanth Jegan

Founder-Hexpertify.c... • 1y

How to Make Billion Dollar by scamming people ? Big Fat Corporate Scandal #2 The Harshad Mehta Scam Harshad is a Indian Stock Broker involved exploiting the banking system to manipulate the stock market.Mehta found a loop hole in the banking system and used it for manipulation the Indian Stock market. Mehta colluded with bank officials&Politicians to issue fake Bank Receipts which were essentially guarantees for short-term interbank loans,intstead of using the funds to the orginal purpose Mehta artificially pumped the prices of certain stocks ,creating artificial demand then sold these inflated stocks for profits. In 1992 Journalist Sucheta Dalal published a series of articles in The Times of India exposing his scam then CBI and SEBI started to investigate and Arrested Mehta facing numerous charges including criminal conspiracy, cheating, and forgery. Those politicians who were his partners escaped using their influence.In 2001 Mehta died of heart attack in prison.

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