It is undoubtedly true that the mobile phones have taken a toll over the global economy development. The world is no more a big place and people can now contact any person staying miles away in a matter of seconds. Mobility has improved at large. The use of smart phones, tablets have been increasing manifold. […]

Steve Cohen who has a legendary reputation for delivering stellar returns consistently and for charging a huge percentage of returns as fees is again coming into insider trading focus. SEC is carrying out an investigation into a massive > $200 million insider trading case against an expert network doctor and C. R Intrinsic Advisors (affiliate […]

Note Indian ministries and regulators have been found to be massively corrupt with the 2G Telecom Scandal facing the glare from the Supreme Court .Huge loss has been caused by ministers,corporate CEOs and various politicians a number of which are in jail right now.The CAG report had said that Reliance had doubled its cost in the KG-6 Basin leading to a huge loss for the Indian government.A number of other lapses (intentional) has been found by the DGH and the Ministry each time favoring the private oil and gas companies in India.Now the CBI has filed a case of corruption against the the former chief of the DGH V K Sibal for scuttling a probe by the Central Vigilance Commission (CVC) for showing undue favors to the private companies.Note India has been stuck by a number of scams in the stock market pertaining to mid cap and small caps.This has led to huge losses for investors with some companies like Reliance Telecom,Unitech having over 90% of their share values eroded.Reliance the biggest Indian company by market capitalization might be facing the same fate if the investigative agencies and the courts do their jobs.

Now India’s Largest Company Reliance too has seen its stock fall to a post Lehman low on concerns that it has colluded with the Oil Regulator and Ministry to gold plate its costs in the KG 6 Gas concession.Reliance is India’s biggest oil and gas company with interests throughout the supply chain.Note its nothing new as Reliance has always been known to be the most powerful corporate in India .However with the government’s own auditing department CAG raising allegations of collusion and corruption,Reliance too may find itself snared in the corruption scandal.Note the infamous Nira Radia tapes had ample proof of how the powerful Reliance group manages the appointment of its favored persons in key federal ministries.The company must now by hoping that the Supreme Court which is already preoccupied with a ton of corruption cases does not take a keen interest and gets the CBI to investigate the allegations.

Note it would not be surprising if the allegations were true as the Indian stock market is a pump and dump heaven of IPOs with blatant manipulation by market operators.Price Rigging Rings are also present with mid cap and small cap scams happening with an alarming regularity.With Corruption touching a new high,the Supreme Court has taken over the investigation of the Telecom Scam Probe from the Government.This has led the CBI which is mostly a ruling party puppet to question some top billionaires and politicians.However it remains to be seen if some of the top fish are caught or just some small scapegoats are imprisoned.

Insider Trading is quite rampant in India particularly in mid cap and small cap companies where promoters frequently collude with market operators in rigging up stock prices.Most of the small IPOs that come are blatantly rigged in pump and dump schemes without the market regulator SEBI doing anything.There have been cases where some individuals and […]