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NEWS In a statement, the regulator said the search and seizure operation was carried out against seven individuals and one corporate entity at multiple locations in Ahmedabad and Bhavnagar in Gujarat, Neemuch in Madhya Pradesh, Delhi, and Mumbai. At this point, however, Durov had already been working on Telegram with his brother, and further planned a mobile-first social network with an explicit focus on anti-censorship. Later in April, he told TechCrunch that he had left Russia and had “no plans to go back,” saying that the nation was currently “incompatible with internet business at the moment.” He added later that he was looking for a country that matched his libertarian ideals to base his next startup. "Russians are really disconnected from the reality of what happening to their country," Andrey said. "So Telegram has become essential for understanding what's going on to the Russian-speaking world." 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.
from TW