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INDIA BUSINESS WORLD - 16th March - TO - 31st March - 2009
TELGI GETS 7 YEAR IMPRISONMENT IN FAKE STAMP PAPER SCAM
A special CBI Court awarded Abdul Karim Telgi, the prime accused in the multi-crore fake stamp paper scam, seven years imprisonment and a fine of Rs 35,000 or, in default, to undergo imprisonment for another seven months.
CBI Court Special Judge A P Gohil also sentenced co-accused Sadiq Ibrahim and Siddharth Fernandes to imprisonment of seven years and five years respectively. Sadiq has also been fined Rs 35,000 and Fernandes Rs 30,000.
The Special Judge convicted Telgi and two others yesterday after the accused pleaded guilty before the court. Telgi and his two accomplices were brought to the city from Bangalore Central Jail and had been lodged in Sabarmati Central Jail.
In his ruling, the Judge said the duration spent in jail as under trial will be adjusted in the quantum of punishment.
The city Criminal Investigation Department officials had recovered fake revenue stamps, fake stamp papers and fake share transfer tickets worth Rs 20 lakh from a stamp vendor in Delhi Darwaja area of the city in 2001.
Later the case was handed over to the CBI which after investigations arrested Telgi and 15 others from Gujarat, Maharashtra and Karnataka.
Investigations after the arrests led to another recovery of Rs three crore worth fake stamp papers and fake share transfer tickets in Ghatlodiya area of the city.
Earlier, five accused in the case, who pleaded guilty, had been awarded five-year jail term, while eight other accused including some Gujarati’s were still facing trial.
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