Rajesh Exports Scandal Explained | How SEBI Found ₹15 Lakh Crore Revenue 99.8% Fake?

₹15,44,899 crore. That's the five-year revenue Rajesh Exports reported to the world. According to SEBI's interim order dated June 3, 2026, 99.8% of it was fake. This is the full Rajesh Exports scandal explained - the story of how a Fortune Global 500 company, once ranked alongside Reliance, SBI and IOC, allegedly built one of the largest financial misrepresentations India has ever seen. SEBI's own Whole Time Member called what happened "egregious and unheard of." Rajesh Mehta started with ₹1,200 borrowed from his brother, sold silver door-to-door in Gujarat, and built an empire that bought Valcambi - the world's biggest gold refinery - for $400 million. So how did it all collapse to a ₹108 share price, wiping out an estimated ₹12,725 crore of public investor wealth? In this video we break down the entire Rajesh Exports story using SEBI's 109-page order, page by page: • How a single shareholder's email in March 2024 about ordinary trade receivables quietly opened the whole case • The Switzerland "black box": why 97-99% of revenue was locked in a subsidiary Indian retail investors could never see • The ₹1,035 crore "Africa gold mines" that, per SEBI, simply don't exist • Three contradictory data submissions to the regulator, and a forensic audit where only 2.03% of documents could be verified • The alleged fund diversions to the promoter's personal accounts and related entities • Why FIIs were quietly exiting while retail shareholders multiplied 5x in nine months • What SEBI's interim order actually means for current shareholders, LIC, and the auditors now referred to NFRA This isn't opinion. Every claim is sourced to the SEBI order and public filings — exactly the way A Digital Blogger covers every investigation. Disclaimer: This video is based on SEBI's interim ex-parte order dated June 3, 2026 and publicly available information. These are interim findings, not a final verdict — the investigation is ongoing and the parties named have the right to respond. Nothing here is investment advice. Always do your own research. Fill out the form to appear in "Losses & Lessons" Podcast (Forex Trading) - https://shorturl.at/KQagk Have you been scammed? File Complaint here - https://aseemjuneja.in/ Buy Fraud Free Book - https://www.amazon.in/FRAUD-FREE-Outsmart-Scammers-Money/dp/9370032088?s=bazaar Install Stock Pathshala for LIVE classes and Webinars now: https://www.stockpathshala.com/pricing Google Play: https://play.google.com/store/apps/details?id=com.codeclinic.stockpathshala&hl=en_IN&pli=1 Chapters: 0:00 – 0:55 Introduction 0:55 – 1:58 Who Was the Founder? 1:58 – 3:40 How It All Started 3:40 – 4:17 SEBI's Deeper Investigation 4:17 – 5:20 Reason for SEBI's Investigation 5:20 – 6:10 Company Working Style 6:10 – 7:02 Retail Investor Losses 7:02 – 7:45 NSE Notice to Rajesh Exports 7:45 – 9:20 Rajesh Exports and the Derivatives Story 9:20 – 10:37 Impact on the Stock Price 10:37 – 11:45 SEBI Interim Order 11:45 – 12:40 Was SEBI Slow?