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What are the key events in the NSEL scam full story?

2024-11-23 01:10
2024-11-23 05:35

Well, first was the establishment of NSEL as a seemingly legitimate spot trading platform. But then, there were events where certain entities within the exchange started to create false trading hype by inflating volumes. As time passed, the inability to deliver on the trading contracts became evident. The regulatory authorities finally stepping in to investigate and the subsequent realization of the huge financial losses faced by the traders are important events in the full story of the NSEL scam.

More Answers

One key event was the discovery of the large gap between the supposed trading volumes and the actual commodity stocks. Another was the payment defaults that started to occur as the scam unraveled. Also, the revelation that NSEL had been operating without proper regulatory compliance in terms of its trading contracts was a major event.

The key events include the initial setup of NSEL with its flawed trading model. Then, as it grew, the increasing number of traders getting involved without realizing the risks was significant. The moment when the first signs of payment problems emerged was a crucial event. Also, the investigations that followed and the uncovering of the manipulation in trading volumes and lack of proper warehousing for commodities are key parts of the story.

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