Abdul Karim Telgi is an alleged scamster from India. Born to an employee of Indian Railways in 1961, he had to sell fruits after the death of his father. He and his brothers studied at Sarvodaya Vidyalaya, an English medium school. He completed his B.Com from a Saudi Arabia. After spending 7 years in Saudi Arabia, he came back and worked as a travel agent.
He was arrested in 1991 by Mumbai police for cheating. He reportedly learnt the tricks of forgery from an expert in prison which eventually made him famous. In 1994, Telgi acquired a stamp paper licence from the Government of India.
He began printing fake stamp papers. He appointed 300 people as agents who sold the fakes to bulk purchasers: banks, FIs, insurance companies, share-broking firms. His monthly earnings: Rs 100 crore (US $ 20 million).
The kingpin in the fake stamp paper scam AbdulKarimTelgi on Monday confessed before a chief judicial magistrate about his alleged role in a case where he is charged with selling fake stamp papers.
Telgi appeared before CJM D W Modak 48 hours after he was asked to apply his mind and reflect on his decision to confess in the 1995 case.
Although his confession was behind closed doors, it assumes significance in the wake of Telgi telling the judge earlier that he wished to confess to expose powerful politicians, bureaucrats and businessmen and others involved in the scam.
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