The perpetrators use various names to carry out the investment scams. They may also impersonate or clone licensed capital market intermediaries by using the names, logos, credentials, websites and other details of the legitimate entities to promote the illegal schemes. These administrators had built substantial positions in these scrips prior to the circulation of recommendations and offloaded their positions subsequent to rise in price of these scrips, making significant profits at the expense of unsuspecting investors, Sebi noted. In 2018, Russia banned Telegram although it reversed the prohibition two years later. As a result, the pandemic saw many newcomers to Telegram, including prominent anti-vaccine activists who used the app's hands-off approach to share false information on shots, a study from the Institute for Strategic Dialogue shows. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies.
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