In December 2021, Sebi officials had conducted a search and seizure operation at the premises of certain persons carrying out similar manipulative activities through Telegram channels. NEWS These administrators had built substantial positions in these scrips prior to the circulation of recommendations and offloaded their positions subsequent to rise in price of these scrips, making significant profits at the expense of unsuspecting investors, Sebi noted. 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. Anastasia Vlasova/Getty Images
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