Referring to Supreme Court's order against Sahara group as a benchmark for cases of unauthorized raising of money from public, Sebi has barred seven persons and one company from the markets for ten years for their involvement in the estimated Rs 1,500 crore 'StockGuru' fraud.
To cover their tracks, they managed to take new identities in each new place to suit the local culture. They became the Zaveris in Gujarat, the Khatris in Uttar Pradesh and the Maheshwaris in Dehradun.
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