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Following this, Sebi, in an order passed in January 2022, established that the administrators of a Telegram channel having a large subscriber base enticed the subscribers to act upon recommendations that were circulated by those administrators on the channel, leading to significant price and volume impact in various scrips. However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors. Two days after Russia invaded Ukraine, an account on the Telegram messaging platform posing as President Volodymyr Zelenskiy urged his armed forces to surrender. As such, the SC would like to remind investors to always exercise caution when evaluating investment opportunities, especially those promising unrealistically high returns with little or no risk. Investors should also never deposit money into someone’s personal bank account if instructed. Sebi said data, emails and other documents are being retrieved from the seized devices and detailed investigation is in progress.
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