SEBI caught "India's Jane Street" scam today. The entities - Prrsaar Sampada Private Limited and Chaubara Eats Private Limited. Prrsaar had a Broker, DP and Research Analyst license from SEBI. What they did was fancy for a scam.
https://t.co/M5M7m1knx8
SEBI passed an ex-parte interim order today. Bank accounts impounded. Market ban on all six Noticees. Investigation ongoing - SEBI itself says the actual number will be much bigger. Order by WTM Kamlesh Varshney. 👏👏
4. Each futures move triggered the planted options orders at manipulated prices. Small deliberate loss in futures - the hammer. Big profit in options - the real trade. Net profit across just 23 top days: ₹28.12 crore.
Options position 3-4x bigger than the futures position about to come. 3. Attack the futures. Aggressive sell orders BELOW LTP to crash the price. Aggressive buy orders ABOVE LTP to pump it back. Alternating patches - sell, buy, sell, buy, sell, buy.
SEBI caught "India's Jane Street" scam today. The entities - Prrsaar Sampada Private Limited and Chaubara Eats Private Limited. Prrsaar had a Broker, DP and Research Analyst license from SEBI. What they did was fancy for a scam. What SEBI did to catch them was fancier.