Whistleblower Reveals How Jane Street Manipulated F&O Market, Hurting Retail Investors

On January 17 and 23, 2024, the Bank Nifty saw sharp declines of over 2,000 and 1,200 points respectively—moves that SEBI’s investigation now links to US-based quant trader Jane Street. In its interim order, SEBI revealed that Jane Street made ₹750 crore in profit in a single expiry by allegedly manipulating prices through a sophisticated expiry-day strategy. Whistleblower Mayank Bansal, President of a UAE-based hedge fund, explains how Jane Street pushed Bank Nifty higher in the cash segment, then built large bearish options positions—only to crash the index by dumping stocks aggressively near the close. The intent: ensure those heavy options expired in-the-money and generate massive gains. Listen in