Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market. "And that set off kind of a battle royale for control of the platform that Durov eventually lost," said Nathalie Maréchal of the Washington advocacy group Ranking Digital Rights. 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. 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. As the war in Ukraine rages, the messaging app Telegram has emerged as the go-to place for unfiltered live war updates for both Ukrainian refugees and increasingly isolated Russians alike.
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