Abdul Karim Telgi, kingpin of the counterfeit stamp paper scam, passed away in Bengaluru due to multiple organ failures on Thursday. Telgi who was arrested in Ajmer in November 2001 had been suffering from diabetes and hypertension for over 20 years. He was admitted to Victoria hospital last week after he collapsed in prison. He was also undergoing treatment for HIV/AIDS.
Telgi’s racket was unearthed to be worth billions of rupees where he along with his other accomplices used to produce fake stamp papers which were sold to banks, insurance companies, and brokerage firms.Telgi expanded his illegal business throughout the country and sell his fake to desperate people who were in the need of stamp papers ranging from Rs 10 to Rs 100.
Telgi was lodged in Parappana Agrahara Central jail in Bengaluru for the multi-crore fake stamp paper racket, along with a massive fine of Rs 202 crore. He was previously given special privileges like an assistant in prison on account of his severe condition.