what were Loop holes used by harsh@d Mehta in scam 1992
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It was one of the largest scams in India, with over one billion USD defrauded. Mehta used a combination of corrupt officials who were willing to sign fake cheques, lies to the banks, and market loopholes to drive the prices of certain stocks up more than 40-fold.
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Harshad Shantilal Mehta was an Indian stockbroker, most famous for his role in the 1992 Indian securities scam.[1] As reported by Economic Times, some financial experts believe that Harshad Mehta didn't commit any fraud; he simply exploited loop holes in the system.
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