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The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. "There are several million Russians who can lift their head up from propaganda and try to look for other sources, and I'd say that most look for it on Telegram," he said. Additionally, investors are often instructed to deposit monies into personal bank accounts of individuals who claim to represent a legitimate entity, and/or into an unrelated corporate account. To lend credence and to lure unsuspecting victims, perpetrators usually claim that their entity and/or the investment schemes are approved by financial authorities. Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels. The Dow Jones Industrial Average fell 230 points, or 0.7%. Meanwhile, the S&P 500 and the Nasdaq Composite dropped 1.3% and 2.2%, respectively. All three indexes began the day with gains before selling off.
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