If you watch the video above you can see that technically he dumped stock for the parent company (they started a sub-company for the IPO) which was bound to lose money on the IPO so he shielded himself from being 'technically' in violation. This shows either a very lucky investor or more likely someone who was such an advanced scammer he knew how to avoid the common way of getting caught and took steps to insulate himself. So followed the letter of the law but not the spirit. So yeah, still an Indian Scammer in my book, just a really really slick one.