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. Some privacy experts say Telegram is not secure enough Perpetrators of these scams will create a public group on Telegram to promote these investment packages that are usually accompanied by fake testimonies and sometimes advertised as being Shariah-compliant. Interested investors will be asked to directly message the representatives to begin investing in the various investment packages offered. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies.
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