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GTB was involved in the stock market scam of 2001, that the stockbroker Ketan Parekh ran. GTB lent heavily to individuals speculating in the stock market; when the market crashed the bank suffered extensive losses. One consequence was that merger talks with UTI Bank fell through. The Reserve Bank of India (RBI) forced Gelli to resign. Gelli's ...
Ketan Parekh is a former stockbroker from Mumbai, who was convicted in 2008 for involvement in the Indian stock market manipulation scam that occurred from late 1998 to 2001. [1]
The first case to receive public attention was that of Ketan Parekh, a stockbroker who was found guilty of a major stock market scam dating back to 1999. This was largely based on circular trading, although insider trading was also a significant component. [9] There were seven companies acting in union to illegally manipulate the market.
In fact, his exact words were "This stock is going to be moving up soon, 100 percent. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to ...
Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information.
Harshad Shantilal Mehta (29 July 1954 – 31 December 2001) was an Indian stockbroker, businessman, and convicted fraudster. Mehta's involvement in the 1992 Indian securities scam (about ₹ 30,000 crore (equivalent to ₹ 2.3 trillion or US$26 billion in 2023)) led him to gain infamy for market manipulation.
The Gadgets reports that the Android Market has fallen victim to a scam sullying the good Angry Birds maker's name: Rovio. The website reports that fake apps and games.
Not even Marjorie Taylor Greene reportedly held on to her stock First, Trump Media published 2023 results that showed the company racked up losses of $58 million on revenue of only $4 million.