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Stock Exchange Scams.pptx
- 2. Presented By : Adnan Qamar Number of Slides : 13
- 3. Sequence 3 • Background • How Stock Exchange works? • Biggest Scams • 1992 Indian stock market scam • Great Stock Exchange Fraud of 1814 • Bre-X Minerals (1997) • Modarba Scandal (2013)
- 4. 4 ● In the 1600s, the Dutch East India Company employed hundreds of ships ● The company turned to private citizens to invest money to support trips ● In doing so, they unknowingly invented the world’s first stock market. ● Net worth of stocks today is $77434105.3333 million Background
- 6. Stock Exchange Scams 6 It’s rightly said,if it is too good to be true, it probably is a fraud’ A few of the biggest stock exchange scams: 1. 1992 Indian stock market scam 2. Great Stock Exchange Fraud of 1814 3. Bre-X Minerals (1997) 4. Modarba Scandal
- 7. 1992 Indian Stock Market Scam 7 • Market manipulation carried out by Harshad Shantilal Mehta • Other bankers and politicians on the Bombay Stock Exchange • Techniques used involved having corrupt officials signing fake cheques • Fabrication to drive the prices of stocks up to 40 times their original price • The total amount lost was1795.66 Crore Indian rupees
- 8. Great Stock Exchange Fraud of 1814 8 • Fraud centered on false information about the Napoleonic Wars • On the morning of 21 February 1814, a uniformed man posing as Colonel du Bourg arrived at the Ship Inn at Dover, England • Told that Napoleon I of France had been killed and the Bourbons were victorious • The value of government securities soared in the morning • Lacking official confirmation of the news, prices began to slide after the initial rush • The entire affair was a deliberate hoax • There had been a sale that Monday of more than £1.1 million of two government- based stocks, most of it purchased the previous week
- 9. Bre-X Minerals (1997) 9 • Canadian company was involved in one of the largest stock swindles in history • Indonesian gold property reported to contain more than 200 million ounces, • Said to be the richest gold mine, ever • The stock price for Bre-X skyrocketed to a high of $280 • The party ended on March 19, 1997, when the gold mine proved to be fraudulent • The total lost was more than $225 million
- 10. Modarba Scandal (2013) 10 • Modaraba is a partnership contract in islamic finance • Rabul-Mal invests money Modarib invests knowledge skills, and abilities • Profits from the operations are distributed according to an agreed ratio. • However, the loss, if any, is borne by the Rabul-Mal only • A complaint was lodged by the Securities and Exchange Commission of Pakistan (SECP) with the National Accountability Bureau (NAB) • NAB cracked • down on the perpetrators of the scam • Volume of the scam amounted to PKR 500 billion • Victimized 13000 investors.
- 11. Conclusion 11 • The catalyst in all these frauds is greed. • The truth is that greed unites us all. • All investors are greedy. • We all want high returns in the short-term. • The sad truth is that the stock market is filled with dishonest stockbrokers waiting to swindle you.
- 12. THANK YOU
- 13. QUESTIONS
Editor's Notes
- Multiple audio inputs are available for pilot Noise from different sources is injected into the audio control system of the aircraft Traditionally classical fixed circuitry-based filters are used to minimize the noise Upgradation in the avionics systems cockpit is a continuous process Resulting in the change in noise sources And making the fixed circuitry-based audio noise suppressors ineffective Therefore, there is a need to develop an adaptive noise cancellation system