Using its newly-granted powers to access call data records and conduct surprise visits, market regulator SEBI has unearthed a large-scale SMS scam. In a press release issued from Mumbai today, SEBI has informed that using SMSes, fraudsters were luring gullible investors with promise of daily returns of up to 75,000 rupees.SEBI had swung into action last month after it noticed that certain entities were offering intra-day tips and stock advisory services that promised daily earnings of 5,000-75,000 rupees in equity and MCX market. After noticing these messages, SEBI began its investigation by obtaining call data records and conducting a surprise visit on the premises of Imtiyaz Hanif Khanda and his maternal uncle Vali Mamad Habib Ghaniwala.SEBI has said that its investigations have prima-facie found that the said persons through their four proprietary concerns, Right Trade, Sai Traders, Bull Trader and Laxmi Traders, were providing unauthorised investment advice and making false statements. As an interim measure, SEBI has restrained them direct or indirect dealings in securities markets till further direction, while they have also been asked to cease and desist from acting as investment advisors and portfolio managers.Besides, they have also been asked to immediately withdraw and remove all their advertisements, representations, websites and other materials in relation to their advisory services.Passing the order, SEBI's whole-time member Rajeev Kumar Agarwal cautioned investors to take their decisions without being influenced by such messages. He further advised investors to only deal with intermediaries that are registered with SEBI.