In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. These entities are reportedly operating nine Telegram channels with more than five million subscribers to whom they were making recommendations on selected listed scrips. Such recommendations induced the investors to deal in the said scrips, thereby creating artificial volume and price rise. However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors. Artem Kliuchnikov and his family fled Ukraine just days before the Russian invasion.
from ar
