New Delhi. Union Minister of telecom, IT, HRD, and censorship, Kapil Sibal has been buying shares of Facebook through proxy accounts, an investigation by Faking News has revealed.
Although it’s early to say if Facebook share prices are falling due to this secret intrusion by Sibal, experts believe that soon Sibal could own a considerable stake in Facebook and sit on the board of the dotcom company.
“He is buying shares through his friends in the USA,” a source revealed, “In fact, he could be manipulating the prices and making it fall, but we don’t have enough data to prove that.”
Sources estimate that Sibal is close to holding around a million shares of Facebook, which are currently owned by thousands of his friends.
“Most of these friends were added on Facebook by Sibal last year after he joined the site to find offensive posts,” our source informed, “Sibal regularly liked their status updates and even chatted with them when he was bored with proceedings in the parliament; soon their notional friendships grew into real relationships and they decided to come together to form a closed group.”
It’s not yet clear if the “conspiracy” to buy shares of Facebook were discussed and finalized through the Facebook group itself, but Kapil Sibal is reported to have convinced everyone that there was nothing unethical or unfair in doing so.
“We are not drawing any cartoon or fasting against the government. This is totally legal,” Sibal is reported to have argued.
“And there would be zero loss on your part; I’ll provide the cash, quick and safe transfer through 4G technology,” the minister is supposed to have offered the deal.
As per the arrangement, Sibal has entered into a future contract where he’d be buying all the shares from his friends at a pre-determined price. Sources claim that by next year, Sibal could be sitting on the board of Facebook.
“We are assuming that the UPA government won’t fall, and Facebook shares would,” an expert explained, “Sibal could be handy in providing free marketing to the company that could push the share prices up.”