TOP 3 BIGGEST SCAMS OF INDIA ALL THE TIME

For many years now, we have witnessed enormous political and financial scams/frauds in our country involving money that amounts to multi-million dollars. And these are just ones that have been exposed. Let's not include the cons which are not covered yet.

With so much capital in hand, one can't help but wonder India would still have been a developing country if this money had been used for the purpose it was meant to.

Here are Top 5 biggest scams of India.

1) IPL SCAM

Never before has a scam been enjoyed and celebrated by such a massive proportion of Indian people.

A lot of IPL activity has been alleged unethical, unlawful, and sometimes illegal. Politicians and others are laundering black money via Mauritius and other tax havens, which hide investor's identities through shell companies and false names.

They are suggestion that matches and bids for team franchises have been fixed and that there have been bribes, tax evasion, illegal betting, and breaches of foreign investment rules,

At the center of the growth and controversy was Lalit Modi, creator and chairman of the IPL and former vice president of the highly politicized BCCI.

2) COMMONWEALTH GAMES SCAM

Yes, of course, how could scamsters miss the much-publicized and anticipated commonwealth games hosted by India in 2010. Even before the long-awaited sporting bonanza could see the light of the day, the grand event was soaked in allegations of corruption.

The scam was estimated to involve money worth close to 35,000 crores. The fraud included discrepancies like payment, non-existent parties, complete delays in execution of contracts, over-inflated prices, and bungling of equipment through tendering and misappropriation of funds.

The accused former chairman of the commonwealth games organizing committee, Suresh Kalmadi, was charged and later jailed by CBI in 2011.

3) 1-2G SPECTRUM SCAM

What can be said that hasn't been saying before, This is the mother of all scams. The Supreme Court recently noted that a spectrum scam had put every con into shame.

The incident saw former telecom minister A Raja being forced to sign the CAG indicating him in the 2G spectrum scam, resulting in a loss of about 176,000 crores to the national exchequer .

The scandal revolves around the alleged irregularities in allowing wireless radio spectrum and telecom ministry licenses to private operators- some of whom were ineligible. The permit was given, and spectrum allocation was done at a meager price ( 2001 prices in 2008 ), leading to a considerable loss to the national coffers.

HERE ARE SOME MORE SCAMS WHICH HAPPENED IN THE BIGGEST WAY

* Telgi scam

* Sathyam scam

* Bofors scam

* Harshad Mehta scam

* Cobblers scam

I hope this helped you to know more about scams in India that took place in the most significant way; let's not get into the trap of scams from now because the that was lossed was a lot more; maybe this would also be a reason that India's is still a developing country.