Hari Shankar Tibrewala

Hari Shankar Tibrewala, a Dubai-based businessman, has recently come under intense scrutiny following his alleged involvement in illegal activities. Known for his role in the Mahadev betting scam and suspected manipulation of the stock market, Tibrewala’s actions have left many investors reeling.

The Mahadev Betting Scam: A Web of Lies and Corruption

Tibrewala’s involvement traces back to the Mahadev Book, an illegal betting app created by Saurabh Chandrakar and Ravi Uppal in 2017. This app rapidly grew into a gambling empire, leading to enormous profits that seemed too good to be true. Tibrewala is believed to have partnered with the duo in the operation of Skyexchange, another illegal variant of Mahadev Book, funneling millions through illicit channels.

Market Manipulation: A Plot to Deceive Investors

Tibrewala allegedly used this ill-gotten wealth to manipulate Indian stock markets, inflating stock prices to deceive unsuspecting investors. In a classic pump-and-dump scheme, Tibrewala’s network pumped money into low-value stocks, manipulating their prices before selling off at a profit. These actions have caused market instability and harm to innocent investors.

The Impact of His Actions

Tibrewala’s manipulative schemes have not only destroyed the stock value of several companies but also caused a broader distrust in the financial markets. His alleged involvement in market crashes and the ensuing investigation by India’s Enforcement Directorate have raised serious questions about the ethicality of his actions.

Is Tibrewala the Root of the Crisis?

Although it’s not fair to blame him entirely for the market crash, Tibrewala’s role in illegal betting and market manipulation has undoubtedly contributed to the financial chaos. His actions have put many investors at risk, undermining their trust in the stock market.