New Delhi: To catch manipulators, markets regulator Sebi has started looking at matrimonial profiles of suspected persons to establish link with family members in front running cases.
The markets watchdog has been scanning Facebook accounts of suspected persons in cases related to insider trading cases.
In the case of front running of several funds of Fidelity Group entities, Sebi has checked the profile of a trader Vaibhav Dhadda (who was using the alias Avi) at the matrimonial website www.jainshubhbandhan.com in order to establish his link with family members.
The matrimonial website has mentioned Vaibhav as the son of Alka Dhadda, Sebi said in an interim order dated December 5. In addition, his passport details also showed Alka Dhadda as his mother.
After gathering evidence, and also through scanning profiles at matrimonial website, about violation, Sebi has barred Vaibhav as well as his mother Alka and sister Arushi from the capital markets after its prima facie probe found that they were responsible for pocketing gains through front running activities.
Also, the regulator has directed the family members to jointly open an escrow account with a nationalised bank and deposit alleged unlawful gains of Rs 1.86 crore made by them within 15 days.
