SEBI slams telegram front-running share scammers
MUMBAI: The Securities and Exchange Board of India (SEBI), the regulator of the capital market, has cracked down on individuals and entities involved in a front-running scam using the messaging app Telegram. Sources said that SEBI has conducted search and seizure operations against these units located in Ahmedabad and Mehsana in Gujarat. Supporting circles say the units operated telegram channels, which had thousands of subscribers. It is learned that positions are created in these stocks before the scammers recommend stocks on their channel. Most of the subscribers were trading stocks based on their tips. As a result of which the price increased, the front-running operators were selling their shares to make a profit. The matter is being investigated in detail, an official said. It is worth mentioning that many new investors in the market who are entering the market for the first time are tempted to make deals by falling into the trap of such telegram or WhatsApp group. In 2016, S...