ED freezes ₹200 crore in pump-and-dump share scam raids

The Enforcement Directorate froze ₹200 crore in trading accounts after raiding 29 premises across Mumbai, Nashik, Ahmedabad, Surat, and Bhavnagar on October 16. The probe revealed two companies issued 3.5 crore shares to select persons between April 2023–March 2024, whose prices were artificially inflated via 'Multibagger Stocks' WhatsApp groups before insiders dumped holdings on retail investors.