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Harshad Mehta started imaginary companies, which did not exist. He bought the shares of the company by himself. He borrowed money from banks. They demanded back the money, but there was nothing at all at the back as all imaginary companies vanished.
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∙ 9y ago
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What is the Timeline of the key trial events in Harshad Mehta's case?
Harshad Mehta illegal scam was revealed in 1990 by a reporter. He was part of an $810 million scam that exploited loopholes in the banking system. He was charged with 72 felonies. He was convicted and sentenced to five years of rigorous incarceration in 1999. He died in prison at the age of 47 in 2001.
Harshad Mehta's scam?
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Yes, it is scam. It is used to steal your money. Save
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