After nearly 25 years, Ketan Parekh, the infamous mastermind behind the 2000-01 stock market scam, has been arrested once again, this time for his involvement in a front-running scandal exposed by the Securities and Exchange Board of India (SEBI). Parekh, who had previously built a reputation for manipulating stock prices, was apprehended after SEBI flagged his latest illegal activities, sparking fresh concerns about the integrity of the Indian financial markets.
Known as the “pied piper” of the Indian stock market during the late 90s and early 2000s, Parekh’s earlier scam had devastating effects, causing severe losses for investors and creating massive fluctuations in the BSE. Now, his arrest in connection with front-running, a form of market manipulation, has sent shockwaves through the industry. The latest scandal raises serious questions about the effectiveness of regulatory oversight and its ability to curb such illegal practices in the future.
