Top 5 Corruption Scams In India

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India has got its independence day on August 15, 1947. Later on the Indians have been able to make use of their independence and rights. As this was growing in our nation, there is also a defective part growing in some parts of India and it is called corruption.

Corruption Scams

If you look in to our past there are many more corruption scams went on in India. Among all these corruption scams, the top 5 scams are listed below:

  1. Indian Black Money Scam
  2. CWG Scam
  3. 2G Spectrum Scam
  4. Scorpene Submarine Scam
  5. Stamp Paper Scam

1. INDIAN BLACK MONEY SCAM

This scam has almost costed about INR 7,280,000 crores amount to our country. This scam led to the immediate cause of the anti-corruption movement. The key face of this scam is Hassan Ali Khan. All the money which came from this scam has been kept secretly in the Swiss banks which have served as an input to the rally against the government who had been ignoring it. This scam got exposed when an Indian businessman was arrested on money laundering charges which was of about Rs. 39,120 crores.

2. CWG SCAM

This scam costed about INR 70,000 crores to our country. The Commonwealth Games organized by India paved way for this scam and led India into a corrupted path. When the organizing committee has restricted some things like child labour, environmental impact, racism, sex slavery and financial costs, but the one that shocked the nation was the humongous amount of funds that had been mishandled by them. Later on which the organizing committee chairman was arrested on the charges of ‘criminal conspiracy and cheating’.

3. 2G SPECTRUM SCAM

This is one of the latest scam which had caused a huge loss to our country. The total scam amount is about INR176,000 crores. The key persons of this scam are A.Raja & M.K.Kanimozhi. Later this scam had become much bigger as there was involvement of politics, bureaucrats, corporate personalities, media persons and lobbyists. In this scam, mainly the granting of the licence for various companies has led in to a massive loss to the exchequer. The co-conspirator in this scandal, who is the daughter of political heavyweight, M. Karunanidhi, M. Kanimozhi was arrested.

4. SCORPENE SUBMARINE SCAM

This scam is also one of the biggest corruption scandals faced by our country including the navy. The total money that was scammed in this scam was about INR 18,978 crores. The face of this scam is Ravi Shankaran. In this scam, secret navy documents were sold to the makers of the Scorpene submarine in which the Indian government had approved the 19,000 crores submarine deal with the French company. The purchase of six Scorpene submarines cost the Indian government a lot much more than its actual price.

5. STAMP PAPER SCAM

This scam is one of the most innovative scam in this list. This scam costed about INR 20,000 crores. The face of this scam is Abdul Karim Telgi. He is a former fruit and vegetables seller, who duped the nation of crores of rupees by printing fake stamp papers. He started his career by making fake passports after which he started selling fake stamps to banks, insurance companies, share broking firms and bulk purchases. Here the surprising thing was that there is an involvement of police officers and other government employees too.

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