List of Scams in India 1957 - 2011

In the month of October we brought to our readers a series of Scams, frauds and scandals that had been committed in India after freedom in 1947. These scams were ranged from small to large scams that were unearthed in India and the culprits were charged sheeted and brought to the court of justice for committing frauds, economic offenses, Scandals and Scams within the Geographical territory of the Republic of India. The complete month of October was dedicated towards bringing awareness with our readers.

However, those who missed to read all these blogs due to a glitch in our servers, we had to repost all the blogs we had published before the servers were hit by hackers and it was brought down temporarily. this hacking led us to move to blogger from our existing servers and also resulted in loss of some posts that were prime evidences of exposing frauds.

We hereby bring a compilation to refresh you again with a Year wise Comprehensive list of a few Scams that were detected and unearthed in India.


  2011

•     ISRO Spectrum Allocation Scam - Although the congress led government was fighting rows over the 2G spectrum scam that another spectrum scam unearthed to give the government more headache. ISRO - A department directly under the Prime Minister had allegedly allocated the spectrum illegally to benefit another firm.
•     Hasan Ali Khan scandal - Hasan Ali not only had allegations of various frauds he is probably the richest fraud and scamsters of India.
  
•     Indian Black Money in Swiss Banks -
•     BL Kashyap EPFO Scam - One of the fastest growing Construction and reality company was then cought in a scandal where it invaded the EPF scheme policies. It fraud is estimated to be nearly Rs.169 Crores.

  2010

•     2G spectrum scam and Radia Tapes Controversy - The Radia tapes controversy relates to the telephonic conversations between Nira Radia, a political lobbyist and an acquaintance of the (then) Indian telecom minister A. Raja, and with senior journalists, politicians, and corporate houses, taped by the Indian Income Tax Department in 2008-09. The tapes led to accusations of misconduct by many of these people. Nira Radia used to run a public relations firm named Vaishnavi Communications, whose clients include the Tata Teleservices and Mukesh Ambani’s Reliance Industries.
  
•     Adarsh Housing Society scam - A scam that brewed in he heart of Mumbai started as a investigation for alleged illegal construction later revealed that Adarsh Housing Society, a cooperative society in the city of Mumbai in India, was reserved for the war widows and veterans of the Kargil War was found the the flats were allotted to bureaucrats, ministers and not a single flat was issued to the war veterans, the original beneficiaries of the scheme.
  
•     Commonwealth Games Scam - What was once thought to be the shining jewel in the crown of Indian sports was then let down to be the biggest scams in India.
•     2010 housing loan scam in India - The 2010 fake housing loan in India was uncovered by the Central Bureau of Investigation (CBI) in India. CBI arrested eight top-ranking officials of public sector banks and financial institutions, including the LIC Housing Finance CEO Ramchandran Nair, in connection with the scam.
  
•     Belekeri port scam - Another illegal mining and transporting of iron ore scam that was indirectly involved and alleged for accidents on road by heavy overloaded dumpers carrying iron ore to the ports of Belikeri.
  
•     Lavasa Scandal - The township that is flouted to be the first ever planned hill city in India landed into trouble over environmental clearance row.
  
•     Uttar Pradesh Food Grain Scam - The first FIRs in the case were filed in January 2005, when the state government acknowledged the scam to be worth Rs. 45,000 crore under the Central government sponsored Antyodaya Anna Yojana (AAY). Apart 65 officials named in the FIR, further over 300 persons were suggested to involved in the preliminary reports. Apart from that a district magistrate, six ADMs and a few district food and supplies officials were suspended
•     Andhra Pradesh Industrial Infrastructure Corporation Controversy - Andhra Pradesh Industrial Infrastructure Corporation Ltd also known as APIIC is part of the Andhra Pradesh Government initiatives with the objective of providing industrial infrastructure through development of industrial areas. The scam involved he anomalies in the land and development projects with EMAAR MGF.
  
•     Indian Premier League Cricket Scandals - Multi million dollar scams alleged to be associated with the most successful cricketing tournament in the world. The IPL changed all the rules of cricket by giving the world the most liked format of cricket the 20-20.
  

  2009

•     Madhu Koda mining scam - Koda is presently in jail after multiple bail pleas have been rejected. However, only a tiny fraction of the Rs 4000 crores (USD 800 million) graft money allegedly amassed by him has been recovered.
  

  2008

•     Cash For Votes Scandal - The cash-for-votes scandal is a scandal in which the United Progressive Alliance, the majority-holding parliamentary-party alliance of India led by Sonia Gandhi, allegedly bribed Indian MPs in order to survive a confidence vote on 22 July 2008.
  
•     The Satyam Scam - The Satyam Computer Services scandal was publicly announced on 7 January 2009, when Chairman Ramalinga Raju confessed that Satyam's accounts had been falsified.
  

  2006

•     Kerala Ice Cream Parlour Sex Scandal - The Kerala ice cream parlor sex scandal is one of the long running sex scandals in Kerala state, South India where many top political icons are allegedly considered to be involved in this scandal.
•     Scorpene Deal Scam - The successor of the Naval War Room Leak Scam  in which 500 crores (about USD 100mn) were paid as bribes to parties in India for the purchase of Scorpene Submarines for the Indian Navy.
•     Navy War Room spy scandal (related to Scorpene Deal Scam) - The scandal reportedly involved documents to be leaked on a USB pen drive from the Directorate of Naval operations in New Delhi and supposedly sent to arms dealers in Europe.

  2005

•     IPO scam - The stock markets have been jolted with many stock market scams in the past. This post is a collection of all scams and help you to understand the nature and magnitude of such stock market frauds and IPO scams.
•     Oil-for-food programme scam (Natwar Singh) - The alleged international scam that involved Natwar Singh in the Iraqi Oil for Food Scam.

  2004

•     Gegong Apang PDS Scam - The scam allegedly involved fraudulent hill transport subsidy bills that were passed while Apang was the Chief Minister of Arunachal Pradesh and the scam took place during his tenure. Gegong Apang was arrested in August 2010 for alleged corruption relating to a Rs. 1000 crore public distribution system scam.

  2003

•     Taj Corridor Scandal - The Mayawati led government in Uttar Pradesh started construction of a corridor near the heritage building of the majestic Taj mahal, later the project was stalled after the issue of environmental clearance came into light. The allegations also put case of money allotted for the project to get siphoned off into the bank accounts of Mayawati and her relatives.
  
•     HUDCO scam - HUDCO sanctioned Rs 14,500 crore as loans to different infrastructure corporations during the NDA regime. It was found in investigation that bribes were paid to get the Loans sanctioned.

  2002

•     Kargil Coffin Scam - In one of the most shameless scams in India, Kargil Coffin Purchase scandal revolved around irregularities in purchase of coffins for Indian Army after the Kargil war with Pakistan.
  

  2001

•     Ketan Parekh securities scam - Ketan Parekh could be termed as another Harshad Mehta where he siphoned off crores of Rupees from banks to target small stock exchanges to commit frauds in Stocks and Securities.
•     Barak Missile Scandal - The Barak Missile Scandal is a case of alleged defense corruption relating to the purchase of Barak Missile Systems by India from Israel. The case is currently under investigation by the Central Bureau of Investigation, and several people including the Samata Party ex-treasurer R.K. Jain have been arrested. Others named in the First Information Report include politicians George Fernandes and Jaya Jaitley, and arms dealer and ex-naval officer Suresh Nanda, who is the son of retired chief of naval staff S.M. Nanda.

  1997

•     Cobbler scam - In what was meant to benefit the poor cobblers as a scheme mooted by the government of India. The scheme came as a boomeranged and hit the cobblers in Mumbai, when they were sent recovery notice for grants they were never given. 
•     Sukh Ram telecom scam - Former telecom minister Sukhram in PV Narasimha Rao's cabinet has been convicted for awarding a lucrative contract to a private telecom firm for supplying cables to the government at inflated rates after receiving a bribe of Rs 3 lakh 15 years back.
•     Hawala Scandal - The biggest ever scandal in the world which involved over 115 top politicians and bureaucrats of the country. Never before so many top politicians been caught in a single scandal. Hawala Scam was bigger than even Watergate, Iran-gate, Bofors, Harshad Mehta, Tehelka and Lockheed scams.
  

  1996

•     Bihar fodder scam - The Fodder Scam (Devanagari: चारा घोटाला, chārā ghoṭālā) was a corruption scandal that involved the embezzlement of about Rs. 950 crore (US$192.66 million) from the government treasury of the eastern Indian state of Bihar. Among those implicated in the theft and arrested were then Chief Minister of Bihar, Laloo Prasad Yadav, as well as former Chief Minister, Jagannath Mishra. The scandal led to the end of Laloo's reign as Chief Minister, accused for the fraud of Bihar Fodder Scam.

  1995

•     Purulia arms drop case -The Purulia arms drop case was an infamous incident in which took place on 17 December 1995. The scandal revolved around an unauthorized arms drop from an Antonov An-26 aircraft in Purulia district in the state of West Bengal in India.
•     SNC Lavalin scandal - The SNC Lavalin scandal is financial scam related to the contracting of the government with a Canadian company, SNC-Lavalin for the renovations of the hydro electric power stations by the Kerela State Electricity board which resulted in the alleged exchequer loss of Rs. 375 crores.
  
•     Telgi scam - The one of the most nefariously crafted Stamp Paper Scam popularly known as Telgi Scam penetrated 12 states and is estimated at a whopping Rs 20,000 crore plus.

  1992

•     Harshad Mehta securities scam - Was the prime accused who engineered the rise of the BSE in 1992 by exploiting several loopholes in the country's banking system. He along with is associates siphoned large amounts of money and bought shares to create a false boom in the Bombay Stock Exchange in 1992.
  
•     Palmolein Oil Import Scam, Kerala - The case revolved around the scam in import of palmolein oil from Malaysia by the government of Kerala, India.
  

  1989

•     Bofors Scandal - The scam related to the purchase of Artillery Guns Bofors purchase during the regime of Late Rajiv Gandhi. The ghost of this scam still haunts the Congress Party and had also been a cause of defeat in many elections.
  

  1982

•     Cement Scam involving A R Antulay - This case reminds me of our school days when we used to promise stuff to friends in lieu of something else. Similarly, Mr. A R Antulay took favours in lieu of promising Cement to Builders.
  

  1971

•     Nagarwala Scandal - A scandal one of its kind, where Nagrawala mimicked the voice of the then Prime Minister of India to cash out 60 Lakhs from State Bank of India.

  1957

•    Haridas Mundhra scandal - The first ever documented scam was recorded in 1957, the scam exposed the nexus of government and Finance Departments. The scam led to the resignation of Finance Minister T. T. Krishnamachari.