Tue Jul 08 18:30:27 UTC 2025: Here’s a summary of the text, followed by a news article based on that information:
**Summary:**
The Indian National Congress party has accused American algorithm trading firm Jane Street of defrauding small Indian investors of ₹44,000 crore (approximately $5.2 billion USD) through manipulation of the Futures and Options (F&O) market. The Congress alleges this occurred over five years, with the Securities and Exchange Board of India (SEBI) failing to take adequate action. The party questions why regulatory bodies allowed the alleged “scam” to continue for so long and demands accountability from the Prime Minister, Home Minister, and Finance Minister. They also question how the company was permitted to repatriate the funds to the United States and what the government plans to do to recover the money.
**News Article:**
**Congress Alleges American Trading Firm Jane Street Siphoned Billions from Indian Investors**
**New Delhi – July 9, 2025** – The Indian National Congress party leveled serious allegations against American algorithm trading firm Jane Street, claiming the company defrauded small Indian investors of a staggering ₹44,000 crore (approximately $5.2 billion USD) over a five-year period.
During a press conference held at the All India Congress Committee (AICC) headquarters yesterday, spokesperson Supriya Shrinate accused Jane Street of manipulating the Futures and Options (F&O) market, effectively “looting” unsuspecting small investors while the Securities and Exchange Board of India (SEBI) and other regulatory institutions remained inactive.
Shrinate stated that SEBI’s own findings revealed Jane Street made a profit of ₹44,000 crore between January 2023 and March 2025 alone, repatriating all funds to the United States. She argued that the total profit is likely much higher, considering the firm has been operating in India for nearly five years.
“Were the investigation agencies such as Enforcement Directorate (ED) and Income Tax sleeping?” Shrinate questioned. She also pointed out repeated warnings from Opposition Leader Rahul Gandhi about protecting small investors, emphasizing the failure of SEBI and the National Stock Exchange (NSE) to safeguard their interests.
The Congress party further criticized SEBI for issuing only a “mild warning” to Jane Street five months ago, alleging gross negligence in failing to take decisive action and allowing the firm to continue trading until July.
Shrinate claimed that information about Jane Street’s operational methods was publicly available, including admissions during a U.S. court hearing where the firm acknowledged making significant profits due to “inefficiencies” in the Indian market.
The Congress spokesperson demanded answers from the Prime Minister, Home Minister, and Finance Minister, questioning their oversight during the alleged fraud. She also pressed the government on how it plans to recover the repatriated funds.
The allegations come at a sensitive time for the Modi government, potentially raising concerns about regulatory oversight and investor protection within the Indian financial markets. The Hindu has reached out to Jane Street and SEBI for comment and will update this story as more information becomes available.
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