India is a country where corruption is rampant in every department and scams of big and small magnitudes have come to light time and again. The innocent population of the country has been robbed time and again of their hard earned money by corrupt people on countless occasions.
Here are top 10 biggest corruption scams in India till date:
10. The Hawala Scandal of 1990-91
One of the biggest corruption scams in the history of India is the bribery case or the Hawala Scam, which reached a magnitude of nearly $ 18 million. Some of the biggest politicians were named among those who had received big bribes at the hands of hawala brokers, besides being news that the money was traced to the militants of Kashmir.
9. The Stock Market Scam of 1992
1992 was a black year for the share market of the country, when it was hit by one of the biggest scams of all time. The culprits behind the abrupt jolt to share market and investor interest were Harshad Mehta and Ketan Parekh, who were responsible for scams worth Rs 4000 crore and Rs 1000 crore respectively.
8. The Bofors Scam
Next on the list of biggest corruption scandals in the country is the Bofors Scandal of the eighties, with the alleged involvement of the then Prime Minister Rajiv Gandhi, members of Congress party and the influential Hinduja family, who had received as much as $ 16 million in bribe from Bofors, the biggest arms manufacturer in Sweden.
7. Fodder Scam
The Fodder Scam, locally known as Chara Ghotala of 1996 comes next among the biggest corruption scams of India, in which there was a false fabrication of livestock by the politicians of Bihar, for which they had embezzled a fund of Rs 900 crore in lieu of fodder, equipment and medicine for these animals.
6. Satyam Scam
The Satyam Scam of 2009 turned out to be one of the biggest corporate scams in the country, measuring up to Rs 14000 crore. Ramalinga Raju, the chairman of Satyam Computer Companies was responsible for this huge scandal, which involved manipulation of the books of the company to show inflated profits and revenues.