Q: Elaborate Harshad Mehta Scam of White collar Crime ?

Ans: Harshad Mehta Securities Fraud (1988-1995).   

Harshad Mehta was a stockbroker who established Grow More Research & Asset Management Limited which was a security company in 1990. Investors blindly followed Harshad Mehta as he was well-known  “Sultan of Dalal Street” of the Stock market. 

Harshad Mehta took part in a large-scale scam to manipulate the stock market that was funded with worthless bank receipts. He raised the stock prices up to 40 times their original value using strategies such as signing phoney checks, abusing market flaws, and deception. In order to obtain fraudulently obtained unsecured loans from banks, the stock traders reaping excellent returns from this swindle.

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