From WhatsApp chats to food orders: How Sebi cracked a Rs 144 crore stock manipulation scheme

SEBI has issued a 394-page final order unraveling a Rs 144 crore stock manipulation scheme by stitching together digital footprints from multiple non-traditional sources. The regulator cross-verified telecom records with data from IndiGo, MakeMyTrip, Swiggy, Zomato, banks and hotels to identify the alleged mastermind behind misleading buy recommendations circulated through bulk SMS and WhatsApp. The accused allegedly impersonated well-known brokerage brands to artificially inflate stock prices before connected entities dumped shares, a classic pump-and-dump tactic.