In recent times, many so-called finfluencers have been using platforms like Telegram and Youtube to provide tips for buying and selling stocks in the name of sharing knowledge about the stock market. However, this practice is entirely illegal. One such finfluencer is Saurabh Maurya aka IITian trader.
In our previous series on fake finfluencers, we highlighted the issue and invited individuals who have experienced any misconduct while dealing with these influencers and asked them to fill out our form.
As a result, we received 53 complaints against IItian Trader, and among them, 45 individuals provided supporting evidence.
We decided to investigate such cases on behalf of those retail investors. Taking our commitment a step further, we invested ₹10,000 to purchase a premium membership of IITian trader Telegram group. In this video, we will share our findings and shed light on what transpired within the Telegram group.
The first complaint we received and validated was regarding tips advisory. There's a regulation by SEBI that explicitly states if someone doesn't hold a SEBI licence as an Investment Advisor or Research Analyst, they are not authorised to provide tips or advisory services.
Similarly, retail traders provided us with evidence of tips being provided, where screenshots clearly show tips being given even though IItian Trader isn't registered with SEBI. When we conducted our investigation, we gathered so much evidence.
Their initial class seemed purely educational at first, and at one point, we even thought we might have misunderstood. But as the classes progressed, Saurabh Maurya, the IITian trader, and another individual with him began to present a very clear approach towards tips.
A pattern emerged where the class would begin, levels would be provided for trading, and tips would be dispensed. They delved into the zero-to-hero trade concept, discussing entry and exit strategies.
After all this, they would mention that these tips were only for paper trading and for educational purposes. No one should trade based on those tips.
However, in their second class, they were sharing levels and discussing how to make profits, essentially running a full-fledged advisory service through Telegram without the necessary SEBI IA or RA licences.
Despite SEBI's regulations clearly stating that both Saurabh Maurya and his associate were openly engaging in these activities.
SEBI also needs to investigate whether an IITian trader is indulging in activities like price manipulation or front-running.
Also in case you are too scammed by a fake finflucencer fill out the form provided in the pinned comment.
Discussion around Laws broken by Finfluencers: [ Ссылка ]
Join the Fraud Free Awareness Program NOW: [ Ссылка ]
Follow us on Social Media Handles:
Instagram - [ Ссылка ]
Twitter- [ Ссылка ]
LinkedIn- [ Ссылка ]
🎧 Listen to Our Podcast on Spotify:
[ Ссылка ]
🎥Subscribe to our Aseem Juneja Channel:
[ Ссылка ]
🎥Subscribe to our Stock Market Learning Channel:
[ Ссылка ]
🎥Subscribe to our Vlog Channel
ADB Vlog - [ Ссылка ]
✅Visit Our Website
[ Ссылка ]
✅Visit our Hindi Website
[ Ссылка ]
00:00 What IITian Trader is Actually Doing?
00:21 What happens inside his Paid Telegram Channel
00:59 Complaints Against Iitian Trader
01:37 Buy Sell Tips Proof
04:01 Violation of SEBI's IA & RA Regulations
07:30 Is He Indulged in Front Running?
09:10 Access to Course Denied Even After Paying Fee
10:00 What can he do?
