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The regulator said it had received information that messages containing stock tips and other investment advice with respect to selected listed companies are being widely circulated through websites and social media platforms such as Telegram, Facebook, WhatsApp and Instagram. Telegram, which does little policing of its content, has also became a hub for Russian propaganda and misinformation. Many pro-Kremlin channels have become popular, alongside accounts of journalists and other independent observers. 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. Sebi said data, emails and other documents are being retrieved from the seized devices and detailed investigation is in progress. Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels.
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