Harshad Mehta, Date of Birth, Place of Birth, Date of Death

Harshad Mehta

Indian businessman and fraudster

Date of Birth: 29-Jul-1953

Place of Birth: Paneli Moti, Gujarat, India

Date of Death: 31-Dec-2001

Profession: stockbroker

Zodiac Sign: Leo

Harshad Mehta was an Indian stockbroker, well known for his wealth and for having been charged with numerous financial crimes that took place in the 1992 securities scam.Of the 27 criminal charges brought against him, he was only convicted of four, before his death at age 47 in 2001.
It was alleged that Mehta engaged in a massive stock manipulation scheme financed by worthless bank receipts, which his firm brokered in "ready forward" transactions between banks.
Mehta was convicted by the Bombay High Court and Supreme Court of India for his part in a financial scandal valued at ? 5000 Crores which took place on the Bombay Stock Exchange (BSE).
The scandal exposed the loopholes in the Indian banking system, Bombay Stock Exchange (BSE) transaction system and SEBI further introduced new rules to cover those loopholes.
He was tried for 9 years, until he died in late 2001.