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.