Understanding the ₹144-crore 'pump-and-dump' stock market fraud uncovered by SEBI
Between 2017 and 2020, a group of 221 entities reportedly rigged the stock prices of five small-cap companies by trading shares within their network before selling them to gullible retail investors. This massive 'pump-and-dump' fraud, valued at ₹143.79 crore, was orchestrated by Hanif Shekh. Consequently, SEBI has banned these entities from the capital markets for a period of up to seven years and levied fines running into crores of rupees.
by shortkt.com✓