Continuing its crackdown against entities allegedly involved in a front-running scam using messaging app Telegram, Sebi on Thursday carried out search and seizure operations at the premises of eight entities in multiple locations across the country. The SC urges the public to refer to the SC’s I nvestor Alert List before investing. The list contains details of unauthorised websites, investment products, companies and individuals. Members of the public who suspect that they have been approached by unauthorised firms or individuals offering schemes that promise unrealistic returns Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market. Telegram was founded in 2013 by two Russian brothers, Nikolai and Pavel Durov. This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors.
from cn
