A brief stint in Saudi Arabia provided him with initial capital and exposed him to the power of documentation.
Directed by Tushar Hiranandani and masterminded by showrunner Hansal Mehta, this installment shifts the spotlight from the stock market to a massive counterfeit stamp paper racket. The series chronicles the meteoric rise and catastrophic fall of Abdul Karim Telgi, the mastermind behind a fraud valued at an astronomical ₹30,000 crore. The Plot: Printing a Fortune
Gagan Dev Riar delivers an incredible, critically acclaimed performance as Abdul Karim Telgi, capturing his ambition, greed, and eventual downfall. Scam 2003 The Telgi Story -2023- Web Series
Telgi created an artificial shortage of genuine stamp papers, forcing desperate corporations, banks, and legal firms to buy his high-quality counterfeits. Performance and Technical Craft
Telgi exploited systemic vulnerabilities by bribing government officials to create an artificial shortage of official stamp papers. He then produced high-quality counterfeits using original machinery and dyes acquired through corrupt means. A brief stint in Saudi Arabia provided him
Who it’s for
Director Tushar Hiranandani maintains a brisk, engaging pace throughout the episodes. He successfully balances complex legal and bureaucratic jargon with high-stakes human drama. The production design meticulously recreates the aesthetic of 1990s and early 2000s India, capturing everything from vintage printing presses to the evolving landscape of Mumbai and Bengaluru. The Plot: Printing a Fortune Gagan Dev Riar
While Scam 1992 was celebrated for its fast-paced, glamorous portrayal of the stock market boom, Scam 2003 offers a darker, more methodical, and systemic look at financial crime. It explores a "dirty money" world built on physical paper, backroom deals, and institutional decay.
Unlike Harshad Mehta, who exploited banking loopholes openly, Telgi operated in the shadows. He built a network that compromised politicians, bureaucrats, and police officers across multiple Indian states. Key Themes Explored in the Series 1. The Audacity of Ambition