Abdul Karim Telgi the mastermind behind stamp paper scam 2003

Abdul Karim Telgi, also known as the "King of Fakes", was an Indian businessman and entrepreneur who was the mastermind behind a massive counterfeit stamp and documents racket.

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Abdul Karim Telgi was born on 23 October 1958 in a village called Khanapur near Belgaum, Karnataka. His father was a small-time businessman who dealt with grocery items. Abdul Karim Telgi completed his schooling in Khanapur and Belgaum. After that, he went to Pune to do his graduation in Arts from Nowrosjee Wadia College. Abdul Karim Telgi was an average student and was not very good at his studies.

 

After his graduation, Abdul Karim Telgi worked for a while in Pune. He then shifted to Mumbai in search of better opportunities. In Mumbai, he worked as a clerk in a bank for some time. He was later fired from the job due to his involvement in a forgery case.

 

Telgi showed early signs of entrepreneurship. He started a business of selling chicken and eggs but it failed miserably. Undeterred by this setback, he worked in a printing press in 1983 which did well for some time. After that, he started working as a chief printing press operator but he was arrested in 1992 for cheating and forgery. He served a jail sentence of 3 years.

*Abdul Karim Talgi with his lawyers*

In 1993, Telgi met a man who would change his life forever - an officer from the Indian passport office. The officer, who was looking for a way to make some extra money, offered to sell Telgi blank passport forms and stamps. Telgi jumped at the opportunity and quickly began to expand his business.

 

But it was just the start of the big game, after coming out of jail, Abdul Karim Telgi started his own business of selling pre-printed stamps. He used to get these stamps printed from Maharashtra and then sold them to various government offices in Karnataka.

 

He started his operation on a small scale, selling fake stamp papers to local businesses. But he quickly realised the potential of this racket and soon expanded his operations. He started supplying fake stamp papers to government offices and banks, and the racket grew exponentially. At the height of his operations, he was selling fake stamp papers worth Rs. 30 crores per month. This business earned him a lot of money and he soon became a millionaire.

In 1999, he started his printing press factory to print fake stamps. He also started selling these fake stamps to various government offices. This business made him a billionaire. The Abdul Karim Telgi Scam was a major financial scandal that occurred in India. The scam was estimated to be worth over ₹100 billion (US$1.3 billion).

 

By 2000, Telgi had a network of over 200 well-educated MBA graduates selling fake documents and stamps across India. His operation was so successful that he was able to purchase a luxurious apartment in Mumbai and a fleet of expensive cars. While Telgi was living a high life, his employees were working tirelessly to print and supply fake stamp papers. The operation was so well organised that it took years for the authorities to finally crack down on it.

 

21 November 2005 Abdul Karim Telgi, the main accused in the multi-crore fake stamp paper racket, was arrested by the Bangalore police. Telgi was convicted in the stamp paper case and went to jail in 2007.

 

He was later shifted to Pune's Yerwada Jail. Despite his humble beginnings, Abdul Karim Telgi managed to amass a fortune through his illegal activities. He is a prime example of how crime can pay if one is patient and determined enough. He was sentenced to 30 years in prison for his role in the racket. He died in prison in 2017, aged 59.