Such frauds are not uncommon and NSE frequently identifies such persons and phone numbers
Mumbai: The National Stock Exchange (NSE) has advised investors not to fall prey to fake brokers who guarantee big fortunes from investments
NSE said in a press release that two persons claiming to be legitimate brokers and operating through mobile number 9977690997 are fraud.
“It has been brought to the notice of the Exchange that persons named “Makhan Prajapati’’ and Rakesh Sharma’’ claiming to be associated with the entity named “Choice Broking’’ operating through mobile number “9977690997’’ are providing security market tips for trading and offering to handle trading accounts of investors by asking investors to share their login is/password,’’ it said.
The exchange said in a separate release that it identified another mobile number 91122569388 and warned users not to accept securities market tips for trading from a person named “R K Global Shares & Securities Limited.’’
The NSE clarified that while Choice Equity Broking Private Ltd and R K Global Shares & Securities Limited are indeed registered trading members of the exchange, the above mentioned persons are not associated with them.
Such frauds are not uncommon in the industry and the stock exchange frequently identifies such persons and phone numbers that are being used to trap individuals.
To deal with such crimes, the NSE has provided an online tracker where investors can find the details of the stockbrokers on its website. To check the registered brokers, users can visit: https//www.nseindia.com/find-a-stock-broker
Verifying the registration status of a stockbroker before investing with them is always advised to avoid financial losses and legal consequences.
