A Maharashtra court Monday acquitted Abdul Karim Telgi and others who were accused in the paper stamp scam case. Charges against Telgi, considered to be the kingpin behind the multi-crore fake stamp scam spread over several states, were abated after his death last year.
Telgi, who was convicted in connection with several cases and sentenced to 30 years’ imprisonment in total, died in Bengaluru in October last year while serving his jail term.
Son of a railway employee and a former travel agent, Telgi was accused of running the fake stamp scam for a decade until his arrest in 2001 by Karnataka police. Booked in multiple cases across 11 states, Telgi had reportedly developed a nexus with government officers while running the scam, and the names of several top police officials and politicians had cropped up during the investigations.
Telgi printed fake stamp papers allegedly in connivance with officials and politicians, and sold them to bulk purchasers such as banks, stock brokerage firms and insurance companies. The racket allegedly operated in at least 18 states through 350 agents in 70 cities.