Sunday Stories, TPS.2, Date- 30th April 2023 : Uncovering the NSEL Scam: A Cautionary Tale of Ponzi Schemes and the Need for Regulatory Oversight in India’s Financial Markets
In 2013, India was rocked by one of the biggest financial scams in its history. The National Spot Exchange Limited (NSEL) had been operating a Ponzi scheme that involved the sale of non-existent commodities to investors, defrauding them of over INR 5,600 crores. The NSEL was established in 2005 as a spot exchange where commodities … Read more