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News Topical, Digital Desk : The whistleblower has made a big disclosure in the Jane Street case. The whistleblower said that all this manipulation started from July 2023, when an attempt was being made to keep the expiry in a strict range. He said that he himself had noticed the collusion happening during expiry, which had a direct impact on big indices like Nifty.
This conspiracy was first seen in the expiry of midcap stocks, where abnormal fluctuations started. This pattern continued and saw a rise from April 2024. Meanwhile, the whistleblower informed SEBI about this irregularity through email, to which SEBI also responded immediately, but Jane Street continued its pattern of manipulation despite this.
Sudden movement in Nifty index also On January 17, 2024, its big effect was seen on Bank Nifty, where the pattern shook the market. On the same day, sudden movement was also seen in the Nifty index, which made market participants suspect manipulation. This whole game started with the Midcap Select Index, but later its effect reached the Largecap. The whistleblower says that this entire process is against the rules and will be considered illegal under the SEBI Act. Jane Street deliberately ignored the rules and affected the market by creating artificial fluctuations in expiry. The whistleblower said that the rules under the SEBI Act have been violated.
Retail investors have suffered huge losses. The Jane Street case is a major scam that has recently surfaced in the Indian stock market, in which the American trading firm Jane Street is accused of manipulating the Indian stock index and earning illegal profits. SEBI has accused Jane Street of manipulating major indexes like BANK NIFTY and NIFTY50. The company bought banking stocks and futures in large quantities, which artificially increased the value of the index. After this, Jane Street made profits by taking short positions in options, causing huge losses to retail investors.
Read More: Jane Street scam: Whistleblower claims – this game was going on for many years, but...
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