The main suspect in the fake stamp paper racket is a native of Belgaum district in Karnataka. He began as a vendor in a small railway station before coming to Mumbai.

A meeting with a forger eventually led him to the stamp and stamp papers business where demand forever exceeded supply. He capitalised on this by printing duplicates.

No one has determined the extent of his business or the loss to the exchequer, but it is believed to run into thousands of crores.

Arrested in 2001, Telgi is now behind bars in Karnataka.

Stamp Scam: The Complete Coverage