Nolan Pinto | Edited by Ganesh Kumar
Bengaluru, October 23, 2017 | UPDATED 22:36 IST
Abdul Karim Telgi, who spent 11 years in jail, died at 8:30 pm in Bengaluru's Victoria hospital.
Abdul Karim TelgiAbdul Karim Telgi, the kingpin of a multi-crore fake stamp paper racket who spent 11 years in jail, died on Monday.
He breathed his last at 8:30 pm in Bengaluru's Victoria hospital.
Telgi, a small-town lad from Khanapur in Belgaum, Karnataka, sold peanuts at railways stations in the 1980s to make a living. He got into racketeering in the 1990s by selling fake stamps that cost him the proverbial peanuts to make.
He was arrested in Ajmer in November 2001.
Telgi's methods were simple. His army of unscrupulous young men, many of them ambitious MBAs, approached financial institutions and large private organisations and struck up deals with the clerks in charge of stamps.