Dipendra Agrawal Arrested for Massive Stock Market Fraud Worth NPR 220 Million
Kathmandu Metropolitan Police have arrested Dipendra Agrawal for allegedly defrauding investors and brokers out of NPR 220 million through manipulative share market activities and abuse of social media.
ShareSanskar | Shrawan 5. 2082
Kathmandu Metropolitan Police have arrested Dipendra Agrawal on charges of defrauding investors and securities firms of NPR 220 million through an elaborate stock market manipulation scheme. The arrest took place in Tokha following complaints and formal proceedings initiated by the Securities Board of Nepal (SEBON). According to Kathmandu District Police Chief Bishwo Adhikari, Agrawal faces serious charges of fraud and breach of trust.
The accused allegedly used social media platforms, particularly TikTok, to spread false information about publicly listed companies. His strategy involved creating misleading content about specific stocks to generate artificial demand among retail investors. Once stock prices rose due to the increased buying interest, Agrawal would sell his own shares at the inflated prices, making significant illegal profits at the expense of ordinary investors who believed the false information.
Investigation revealed that Agrawal operated up to 15 separate TMS (Trade Management System) accounts, which allowed him to control and conduct trades with minimal regulatory oversight. This network of accounts gave him the ability to buy and sell shares freely while avoiding detection, effectively bypassing the safeguards designed to ensure fair and transparent trading in Nepal\
