Counterfeiter Telgi Remains Critical; Activist Yet to Get Cash Reward of Rs 44 Cr for Info on Scam Kingpin

Team Udayavani, Oct 26, 2017, 11:12 AM IST

Bengaluru: Health of Abdul Karim Telgi, a convicted counterfeiter has remained critical at Victoria hospital in Bengaluru here on Thursday. Telagi is reportedly in coma stage and is suffering from brain fever, HIV, multi organ failure and other health issues.  Telagi is being treated in the hospital for last a few days. The police visited Victoria hospital and gathered information on present health condition of the counterfeiter.

Meanwhile, activist Jayanth Thinekar, who provided key information to the investigators on Telagi, kingpin of multi-crore counterfeit stamp paper scam hasn’t yet get his cash reward as announced by the Union Government 17 years ago to arrest the culprits who involved in multi-crore counterfeit stamp paper scam. According to the assurances made, the activist, Jayanth Thinekar is yet to get the cash reward of Rs 44 crore. The state government keeping a blind eye on the informer withdrew all security arrangements provided to Jayanth Thinekar after the arrest of Telagi.

Speaking to Udayavani, Thinekar expressed his anger over the central government which failed to handover the reward as assured 17 years ago. Thinekar is also a victim of life threatening calls and messages even if court convicted Telagi in the scam.

Abdul Karim Telgi was born at Telgi village in Vijayapura district of Karnataka. After the completion of his B.Com degree he moved to the Middle East and later returned to Mumbai to start a business. After a few years in Mumbai, with the support of underground criminals, he begun printing counterfeit stamp papers and managed to earn crores of illegal income through it. After collecting income worth in crores, he started an import, export company, Metro Corporation in Mumbai.  

Karnataka police arrested Abdul Karim Telagi in Ajmer in November 2001 in connection with multi-crore counterfeit stamp paper scam.  He had took the service more than 350 persons as agents who sold the counterfeits to bulk purchasers, including banks, insurance companies, and other financial companies.

The size of the scam was more than Rs 20,000 crores as he reportedly sold counterfeit stamp papers worth more than Rs 20, 000 crore. However, investigation teams managed to seize fake stamp papers worth only more than Rs 3000 crore.

After an investigation into the case, Central Bureau of Investigation found the involvement of influential politicians, top government officers of various states. However, information on such influential politicians hasn’t yet released by the concerned authorities.