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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. "He has kind of an old-school cyber-libertarian world view where technology is there to set you free," Maréchal said. 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. However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors. Telegram was founded in 2013 by two Russian brothers, Nikolai and Pavel Durov.
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