Business Frauds
100 guides found.
Business Frauds Day 100: The NSE Co-Location Scam — When the Stock Exchange Itself Was Rigged
Day 100: The NSE Co-Location Scam — When the Stock Exchange Itself Was Rigged THE NUMBER ₹50,000 crore. That’s the estimated notional loss to retail investors between 2010 and 2015…
Business Frauds DAY 99: MCX — JIGNESH SHAH AGAIN, THE EXCHANGE HE BUILT AND LOST
DAY 99: MCX — JIGNESH SHAH AGAIN, THE EXCHANGE HE BUILT AND LOST THE NUMBER ₹5,600 crore. That’s the amount the Multi Commodity Exchange (MCX) lost in a single day—December 1, 2013…
Business Frauds Day 98: The NSEL Scam — How Jignesh Shah Turned a Commodity Exchange into a ₹5,600 Crore Ponzi Scheme
Day 98: The NSEL Scam — How Jignesh Shah Turned a Commodity Exchange into a ₹5,600 Crore Ponzi Scheme THE NUMBER In July 2013, the National Spot Exchange Limited (NSEL) defaulted o…
Business Frauds Day 97: Sanjay Dangi — The Penny Stock Puppeteer Who Made ₹1,089 Crore Vanish
Day 97: Sanjay Dangi — The Penny Stock Puppeteer Who Made ₹1,089 Crore Vanish THE NUMBER In 2018, SEBI’s final order revealed that Sanjay Dangi and his associates manipulated 16 pe…
Business Frauds Day 96: Samir Arora — The Man Who Made ₹1,100 Crore Vanish from Alliance Capital’s Mutual Funds
Day 96: Samir Arora — The Man Who Made ₹1,100 Crore Vanish from Alliance Capital’s Mutual Funds THE NUMBER In 2003, SEBI discovered that Samir Arora, then CEO of Alliance Capital A…
Business Frauds Day 95: Shankar Sharma — The Man Who Sold the Market a Story
Day 95: Shankar Sharma — The Man Who Sold the Market a Story THE NUMBER ₹1,200 crore. That’s the amount the Enforcement Directorate (ED) alleged was siphoned off through a web of s…
Business Frauds Day 94: Manu Manek — The Original Black Cobra of Dalal Street
Day 94: Manu Manek — The Original Black Cobra of Dalal Street THE NUMBER In 1992, the Bombay Stock Exchange (BSE) discovered that ₹4,000 crore—equivalent to ₹40,000 crore today—had…
Business Frauds Day 93: Radhakishan Damani — The Bear Cartel Operator Who Built a Retail Empire
Day 93: Radhakishan Damani — The Bear Cartel Operator Who Built a Retail Empire THE NUMBER In 1992, the Securities and Exchange Board of India (SEBI) found that Radhakishan Damani …
Business Frauds Day 92: Ketan Parekh — Act Two, Co-operative Banks, and the ₹1,200 Crore Circular Trading Scam
Day 92: Ketan Parekh — Act Two, Co-operative Banks, and the ₹1,200 Crore Circular Trading Scam THE NUMBER In March 2001, the Madhavpura Mercantile Co-operative Bank (MMCB) in Gujar…
Business Frauds Day 91: Harshad Mehta — the original, still the most cinematic
Day 91: Harshad Mehta — the original, still the most cinematic THE NUMBER In April 1992, the State Bank of India discovered a ₹500 crore discrepancy in its government securities ac…
Business Frauds Day 90: Ritesh Agarwal — OYO’s ₹13,000 Crore Loan to Buy Back Shares at Peak Valuation
Day 90: Ritesh Agarwal — OYO’s ₹13,000 Crore Loan to Buy Back Shares at Peak Valuation THE NUMBER In 2023, Oravel Stays Private Limited—OYO’s parent company—secured a ₹13,000 crore…
Business Frauds Day 89: Rahul Yadav — Housing.com, fired by his own board, the WhatsApp message that ended his tenure
Day 89: Rahul Yadav — Housing.com, fired by his own board, the WhatsApp message that ended his tenure THE NUMBER ₹1,360 crore. That’s the amount SoftBank Vision Fund wrote off in 2…
Business Frauds Day 88: Mojocare — The ₹1,200 Crore Wellness Scam That Vanished Into Thin Air
Day 88: Mojocare — The ₹1,200 Crore Wellness Scam That Vanished Into Thin Air THE NUMBER In June 2023, the Enforcement Directorate (ED) froze ₹1,200 crore in assets linked to Mojoc…
Business Frauds Day 87: Trell — The Influencer Platform That Inflated Its Way to a ₹1,000 Crore Fraud
Day 87: Trell — The Influencer Platform That Inflated Its Way to a ₹1,000 Crore Fraud THE NUMBER In 2022, auditors discovered that Trell, a Bengaluru-based influencer commerce plat…
Business Frauds Day 86: GoMechanic — The Startup That Drove on Fake Numbers
Day 86: GoMechanic — The Startup That Drove on Fake Numbers THE NUMBER In January 2023, Sequoia Capital and Tiger Global discovered that GoMechanic, a Delhi-based car repair startu…
Business Frauds Day 85: Zilingo — The $40 Million Vanishing Act
Day 85: Zilingo — The $40 Million Vanishing Act THE NUMBER In March 2022, Sequoia Capital, Zilingo’s largest investor, wrote off its entire $225 million stake in the Singapore-base…
Business Frauds Day 84: Byju’s Missing ₹9,000 Crore — Sent to US Fund, Then Claimed It Wasn’t There
Day 84: Byju’s Missing ₹9,000 Crore — Sent to US Fund, Then Claimed It Wasn’t There THE NUMBER In March 2024, Byju’s admitted in a US bankruptcy court that ₹9,000 crore ($1.1 billi…
Business Frauds Day 83: Byju’s — The ₹9,000 Crore Loan Default That Unraveled India’s Most Valuable Startup
Day 83: Byju’s — The ₹9,000 Crore Loan Default That Unraveled India’s Most Valuable Startup THE NUMBER In June 2023, the Enforcement Directorate (ED) revealed that Byju’s, once val…
Business Frauds DAY 82: ASHNEER GROVER — THE ₹100 CRORE VENDOR FRAUD THAT OUSTED A UNICORN KING
DAY 82: ASHNEER GROVER — THE ₹100 CRORE VENDOR FRAUD THAT OUSTED A UNICORN KING THE NUMBER In January 2022, BharatPe’s internal audit uncovered ₹100.6 crore in "fake vendor payment…
Business Frauds Day 81: BharatPe — The ₹81 Crore Audio Tape Scandal
Day 81: BharatPe — The ₹81 Crore Audio Tape Scandal THE NUMBER In January 2022, BharatPe’s internal audit revealed that ₹81.28 crore had allegedly been misappropriated by its co-fo…