The order against an alleged pump and dump scheme displays SEBI’s use of latest technology combined with a healthy dose of old-fashioned detective work
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A year ago, SEBI had carried out search and seizure operations against several parties across various towns for allegedly carrying out market manipulation activities through channels hosted on the messaging app Telegram. The operations followed complaints about circulation of stock tips through this channel. After detailed investigation and evidence-gathering (which, surprisingly for such alleged activities, was available aplenty), correlation, etc., SEBI has now, on 25th January 2023, passed an interim order against 19 parties. This order gives several directions…
