ED Raid on Hari Sankar Tibrewal: Mahadev Betting App Case

The Big Scam: How Frauds Mess with Small Stock Prices

Imagine a world where money moves like a game, and sometimes, people do scams. Say for example, scams like Harshad Mehta amounting to more than 5000 Crores…Than Ketan Parekh with 40000 Crores scam.

Recently, stock market regulator Securities and Exchange Board of India (SEBI), said something shocking. They said that in small and midcap companies, something fishy is going on. The prices of their stocks don't match what they're really worth. The valuations are too stretched.

 

 

This hint from SEBI points to something serious—people might be playing with prices to make more money. But SEBI can't say for sure until they have strong proof. Still, there are clues hinting at shady deals. On one side, SEBI is looking into these tricks, and on the other side, someone in Dubai is allegedly pulling strings to change stock prices. They're putting money into small companies while everyone is busy with new business launches.

Then, the Enforcement Directorate (ED) steps in. They raid places and started digging. As a result, stock prices drop. But is this just the start of something bigger? Is there a hidden story waiting to unfold?

SEBI is careful because they remember past scams, like when Harshad Mehta or Ketan Parekh tricked everyone out of thousands of crores. They're determined not to let that happen again. But how did a scam worth more than ₹1100 crores, managed from Dubai, go unnoticed for so long? And now, as ED digs deeper, we're yet to know the full picture.

 

Detailed Video

 

Let's take a Closer Look at this Tangled Web of Lies

There's a big company in the UAE, run by an Indian named Hari Shankar Tibrewala. They do all sorts of trading and financial stuff. But it seems like their real game is to manipulate the Indian market.

Here comes Mahadev Online Betting App, an online betting platform using fake bank accounts for deals. These sneaky deals make it hard to trace the money. When ED investigates, they catch Suraj Chokhani, a big player in Mahadev, accused of moving ₹436 crores through eight different companies.

But Tibrewala and Chokhani's shady business doesn't stop there. They're involved in messing with other sectors too. But how do they do it, and who else is in on it?

Looking closer, ED finds 13 bank accounts linked to Tibrewala's operations. They've moved over Rs.580 Crores through 13 different stocks, mostly small companies.

 

 

Ordinary people, hoping to make quick money, get caught in these schemes. They don't realize the risks and end up losing a lot.

What's scarier is that some financial reporters might be involved too. This raises questions about media honesty.

As investigations continue, one thing is clear: investing in stocks needs careful thinking. People should learn to tell the difference between real chances and traps.

When everything settles down, and we see the full story, we'll wonder - how many more scams are out there?

In the end, we should remember this cautionary tale and stay alert against financial tricks.

 

Thank you for Reading.