The Scam That Ruined A Prime Minister’s Personal Life- the Mudhra Scam

Pressurizing the Government Of India into a pump-and-dump scheme, the scam destroyed the PM`s life.

Karthick Nambi
Lessons from History


Photo by Sikandar Ali on Unsplash

It was independent India, a country reeling out of its colonial past and taking a new step into the world arena. Poverty and illiteracy were the two most important problems the nascent country faced.

Corruption, too, joined as one of its problems. India was about to face one of its first biggest scams, and it rocked the government in power and caused a rift in the prime minister’s personal life, too.

Independent India

Photo by vishu on Unsplash

India got its independence from Britain on August 15, 1947. After independence, the Indian government tried to maintain many of its systems, just as it did in colonial times.

One such colonial organization was the Life Insurance Corporation or LIC. LIC is a symbol of trust and confidence even today. LIC invested the money collected from the nook and corner of India from commoners in various ventures.