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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. Either way, Durov says that he withdrew his resignation but that he was ousted from his company anyway. Subsequently, control of the company was reportedly handed to oligarchs Alisher Usmanov and Igor Sechin, both allegedly close associates of Russian leader Vladimir Putin. Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government. 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. False news often spreads via public groups, or chats, with potentially fatal effects.
from hk