Ketan Parekh is a former Mumbai stockbroker. He was convicted in 2008 for his role in the Indian stock market manipulation scheme. Learn more about his details and how rich he is in 2021 in the article below.
Ketan Parekh is infamous for orchestrating the Indian stock market manipulation scam.
The scam took place between 1998 to 2001 and was named the Ketan Parekh scam.
He is the apprentice of Harshad Mehta and is popularly called “The Pentafour Bull” of the Indian stock market.
How Rich Is Ketan Parekh? His Net Worth Explored
Following the corporate shareholdings, many people were curious to know how rich is Ketan Parekh in 2021.
His net worth is estimated to be around $800,000 in 2021.
When he was at his pinnacle, Ketan Parekh was able to manipulate stock prices to such an extent that he acquired the trust of other investors.
He gained a lot of connections inside the Bollywood community and in political circles, which helped his financial success.
Mr. Parekh co-founded the KPV Venture alongside Kerry Packer, an Australian multi-millionaire with a $250 million fund cap.
But eventually, the government seized all of his holdings and properties after the revelation of the scam.
Ketan Parekh’s aide, Dharmesh Doshi evaded arrest in ‘Stock Market Scam of 2001’ and is still absconding. pic.twitter.com/JB84egV2Q3
— Ashish K. Mishra (@akm1410) March 11, 2016
Who is Ketan Parekh Wife?
The wife of Ketan Parekh is Mamta Parekh. The couple has two daughters.
Ketan is a wanted man who was involved in the most notorious scam in the history of the Indian stock market.
This situation created various difficulties and complications especially, for his wife, Mamta.
Many management schools still use Ketan’s role in the stock market crash and manipulation as a case study.
He was sentenced to three years in prison in 2018. However, the Bombay High Court later postponed the sentence and granted him bail.
Despite bans, some stock market operators like Ketan Parekh, Dinesh Singhania still access the market http://t.co/k35srdgL
— Economic Times (@EconomicTimes) August 22, 2012
Family Details Of Ketan Parekh
Ketan Parekh was born in an upper-middle-class family of Chartered Accountants and shareholders.
The name of his father is Vinaychandra N Parekh. His father taught him about the basics of the share market and money.
One of the daughters of Ketan Parekh is, suffering from post-viral encephalitis since she was one and half months old.
According to rumors, the family keeps moving to different countries for her treatment.
Ketan Parekh was accused of insider trading, circular trading, pump and dump trading, and other charges. It has ruined so many lives.
The people have branded him as a “criminal” in society. Thus, it is not easy for him to move around without getting tracked by the government.
Biggest Scams in Indian Stock Market
1 Harshad Mehta 1992, Rs5,000cr
2 Ketan Parekh 2001, ~Rs40,000cr
3 Satyam 2009, Rs12,318cr
4 Saradha (indirect as FII pulled on unregulated Ponzi schemes) 2013, Rs2,460cr
5 NSEL 2013, Rs4,500cr
6 Illiquid Options Trading on BSE 2020, Rs8200cr— Ruchitaa Maheshwari (@Ruchi_Mahi) October 19, 2020