Abdul Karim Telgi, and the true story of Scam 2003 by Hansal Mehta

Director Hansal Mehta, who is riding high on the recent success of his Netflix drama "Scoop," has announced another OTT release, "Scam 2003: The Telgi Story." This new web series, set to be released on SonyLiv on September 2, continues Mehta's "Scam" series and focuses on the life of another scamster, Abdul Karim Telgi.

It’s a special day. And a special announcement. On the 3rd anniversary of @SonyLIV we bring you some good news!#Scam2003OnSonyLIV@applausesocial @SPNStudioNEXT @nairsameer @deepaksegal @Indranil1601 @GaganDevRiar #TusharHiranandani #KiranYadnapavit @karanmukeshvyas… pic.twitter.com/wweqFHQaFF

— Hansal Mehta (@mehtahansal) June 18, 2023

In 2020, Mehta gained acclaim for his show "Scam 1992," based on the life of stockbroker Harshad Mehta and his duping of the stock market. Similarly, "Scam 2003: The Telgi Story" will delve into the life of Abdul Karim Telgi, the mastermind behind the counterfeit stamp scandal.

The series is based on the Hindi book "Reporter Ki Diary" written by journalist Sanjay Singh, who broke the story at the time.

Who Was Abdul Karim Telgi?

Abdul Karim Telgi, born in Khanapur, Karnataka, in 1961, was the man behind the Stamp Paper Scam that rocked the nation in 2003. Telgi's journey from rags to riches is akin to a typical Bollywood story.

Starting with a hand-to-mouth existence, Telgi amassed more than 36 properties and around 120 bank accounts in cities like Delhi, Mumbai, Bengaluru, Chennai, and others by the time of his death.

Telgi hailed from a modest background, where his father worked as a Class 4 employee at the Indian Railways. After his father's demise, Telgi, along with his brother and mother, sold fruits at railway stations to support their family. They would gather fruits such as pears, cherries, and blueberries from forests and sell them to train passengers at Khanapur station.

The initial journey

After completing his schooling, Telgi obtained a Bachelor's degree in Commerce from Gogate College of Commerce in Belgaum. His first job was as a sales executive at M/s Filllix India Ltd. After losing that job, he worked as a manager at Kishan Guest House in Colaba.

He later moved to Saudi Arabia in search of better prospects but eventually grew disillusioned and returned to India. Settling in Mumbai, he started exporting manpower to Saudi Arabia.

While in Saudi Arabia, Telgi recognized the demand for cheap Indian labor in the Gulf country. This realization prompted him to return to India and venture into the business, marking his first foray into the world of crime.

The first scam

In Mumbai, Telgi established a company called "Arabian Metro Travels" in New Marine Lines. There, he engaged in illicit activities by producing fake immigration clearance documents for laborers seeking to move to the Gulf.

In 1991, Telgi was arrested by the Mumbai Police in his village on charges related to forgery and cheating under various sections of the Immigration Act.

Meeting Ratan Soni in Jail

Telgi's arrest unexpectedly breathed new life into his illegal activities.

While in jail, he encountered Ratan Soni, another criminal involved in stock exchange dealings. Soni, aware of the negligent nature of the Stamp Paper Office, suggested Telgi enter the business of counterfeit stamps.

With Soni's assistance from the outside and his political connections, Telgi managed to obtain a stamp paper license in 1994 (License Number 12500). He acquired machines that had been declared "junk" by the Nashik Security Press.

The Stamp Paper Scam

Telgi's counterfeit stamp business grew exponentially once he obtained the necessary machines. He employed over 300 people who sold the fake stamps to bulk purchasers, including banks, insurance companies, and stock brokerage firms. The estimated size of his scam at that time was around Rs 100 billion or $1.3 billion.

One significant factor contributing to Telgi's success was the complicity of several police officers in his illegal activities. For instance, an Assistant Police investigator was found to have a net worth of $13 million, despite earning a monthly salary of only Rs 9,000.

After the scandal unfolded, numerous police officers were arrested. Deputy Commissioner of Police Pradeep Sawant was also initially arrested but was later acquitted after being declared innocent in the case.

The arrest

Telgi was arrested in Rajasthan in 2001. He faced trial, and seven years later, in 2006, he was sentenced to 30 years of rigorous imprisonment.

In 2007, he received an additional 13 years of imprisonment for another aspect of the scandal. Additionally, the court imposed a fine of $130 million on him.

Illness

In July 2005, Telgi claimed that powerful individuals involved in the scandal wanted to kill him to protect themselves. He alleged that he had been injected with an AIDS injection nearly three years prior in 2002.

Telgi also asserted that he was denied treatment for his hypertension and diabetes while in custody.

Obsession with Bollywood stars

Telgi was known to have an obsession with several Bollywood actresses and frequented the Topaz Bar in Mumbai's Grant Road. He spent lavish amounts of money on bar dancers, particularly those who resembled Bollywood actresses.

There are reports that he encountered a girl named Madhuri at the bar, who resembled Madhuri Dixit. Telgi apparently spent Rs 90 lakhs on her during New Year's Eve on December 31, 2000.

Death

Telgi suffered from various health ailments and passed away at the age of 56 while in custody at the Parappana Agrahara Central Jail in Bengaluru, Karnataka.