TOP 5 scams in stock market or share market.

In this article, we talk about the top 5 scams in the stock market or share market, like Harshad Mehta, Ketan Parekh scam, etc., or other scams.

1.The Harshad Mehta scam

This is Harshad Mehta. It is an Indian stockbroker. They have done a scam of 5000 crores in the share market in the year 1992. They used to increase the share price of any company artificially. They used to raise money in large amounts from SBI banks without any guarantee and invest in the share market or the stock market. In this way, they scammed 5000 crores. His scam was opened by journalists such it Dalal.

Punishment: - He was punished to 5 years in jail for this fraud. He died of a heart attack on the night of 31 December 2001.

2.The Ketan parekh scam

This is a Ketan parekh. He was a former Indian stockbroker from Mumbai. They have a done a scam of 40,000 crores in the year 2001. His scammed by 4 techniques insider trading, circular trading, pump and dump trading, mispresent facts, etc. Or use any other techniques. His all scam was exposed in 2001. As a result, other brokers and fund managers start investing heavily in these stocks.

Punishment: - He was punished for 3 years imprisonment and suspended all trading accounts, and Ketan Parekh is alive.

3.The Ramalinga raju Satyam scam 

This is a Ramalinga raju satyam. He was the CEO of Satyam computer (IT) company started in 1987 with his brother. After some years, this company was listed on Stock Exchange. Going forward, this company scammed 7,800 crores. Raju used some techniques insider trading, money laundering, account fraud, etc. Any other charges. In 2009, Raju confessed to SEBI about all scams between 2003-2008.That an amount approx 7,800 crores.

Punishment: - He was punished to 7 years in jail. And fine 5 crores.

4.The Chain Roop Bhansali scam

This is a chain roop Bhansali (CRB). He has done a scam of 1200 crores in the year 1996. It is the biggest mutual fund scam. He then established CRB Mutual Fund (Mutual Fund) in 1994 and CRB Share Custodial services in 1995. The CRB Capital Markets offered various services, including merchant banking, leasing, hire and purchase, bill discounting and corporate funds management, fixed deposit and resources mobilization, mutual funds and asset management, international finance, and forex operations. Chain Roop Bhansali was in his best phase of business during the period between 1992 to 1996.

Punishment: - CRB Group failed, and C R Bhansali spent a few months in jail in 1997. He was arrested at the Delhi Airport, but his family and wife were allowed to go.

  5.The Wardha group scam 

This is a group of many companies. This group was scammed of 20,000 crores. A consortium of over 200 private companies formed the Wardha group, which was founded by Sudipta sen. They ran the Ponzi scheme, a fraudulent activity, and duped investors of over ₹20 000 crores. Following this is the Sensex crashed by 430 points on 13th May 2013.

Punishment: - Saradha Group chairman Sudipto Sen was sentenced to three years' rigorous imprisonment by a Bidhannagar court on Friday in a provident fund default case.

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