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NSEL Fight Profile picture
NSEL Fight
@NSELfight
5600 Crore NSEL scam victims fighting for survival. Hoping karma will catch up with crooks some day as Modiji seems uninterested. Whistle-blower handle.
Jul 31, 2020 • 27 tweets • 14 min read
Today is the 7th anniversary of Rs 5600 Crore (about a
billion $ then) brazen commodity fraud called 'NSEL scam'. It's also a sordid saga of dishonorable handling by the government of fraud and corruption of a dishonest and dissolute businessman who's been buying his freedom. 1/ The scam: Jignesh Shah floated a fake exchange (national Spot Exchange Ltd- NSEL) only on paper, right under the nose of the government and colluding babus.There were commodities traded and investors were offered arbitrage of about 13% p/a. Example-an investor could buy Sugar 2/