SEBI bans 12 websites and 3 people for providing unregistered advisory and fraudulent tips

SEBI has banned 3 guys who were running 13 websites, that were running a racket of providing fake stock and F&O tips, charging, and running away with the money.

Based on the information available on the unregistered investment advisory websites and complaints received by SEBI against such websites, it is prima facie observed that the Noticees create unregistered investment advisory websites periodically and lure investors by promising assured monthly income with unbelievable returns of 300-800% on buying and selling of securities based on the tips provided by them. Once the subscription is received, the Noticees either give stock tips for few days to the subscribers and then stop entertaining their calls, or avoid the calls of the subscribers entirely without giving any stock tips.

Link to the full order.

All those websites were a bit popular/notorious.

WTF. I have read the order of SEBI. They have collectd almost 5cr from poor retail traders like us. They should be jailed and traders shall be refunded with their money.

Now a days there are more service providers from whatsapp , Telegram and Twitter channels

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