How Ketan Parekh's business turn into one of the biggest financial scam of India Ketan Parekh was a chartered accountant and he was the one of the intern of Harshad Mehta. His only dream was to rule the stock market of India, so he dicided to join Harshad Mehta's firm to learn some tricks to deceive the Investors. Before executing his master plan he first used the pump and dump scheme to raise some money which was going to help him to execute his master plan. What is pump and dump scheme He purchased major shares (20-30) % of new companies for increasing thier price to a certain level just to attract the other investors. When the price was too high, he was would sell his stake in those companies, and collect huge profits from of those. So first he pumpee the share price by purchasing them and then dumped those share by selling them. After Ketan Parekh scam, the laws of stock market amended in every aspect. And niw pump and dump scheme is illegal in stock market. ...
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