Just a little patience and the right process can help you recover the money you lost in a scam or fraud.
Ali did the same and found hope of recovering his lost funds after receiving a refund of ₹25,000, the amount he paid as a fee to a SEBI-registered Research Analyst (RA).
Here’s how Ali got scammed by a Research Analyst and the steps he took to recover his losses.
Ali opened a demat account but didn’t use it as he was not familiar with trading. Soon after opening the account, he started receiving calls from random numbers.
One day, he received a call from an unknown number. The caller claimed to be a SEBI-registered RA. Since the call was from a registered entity, Ali listened.
The RA told him about services that provided tips for options trading. Ali didn’t understand options trading and initially declined. However, the RA convinced him to take a trial.
Ali agreed, and that day he received four tips, three of which worked, earning him a profit of ₹9,000. He then decided to subscribe to their services and paid a fee of ₹25,000.
Everything seemed to be going well until one day, the RA asked Ali to share his login credentials, promising to handle his account and assure high profits. Having already gained Ali’s trust, the RA easily convinced him to share his account details, which held a trading balance of around ₹1.2 lakh.
Ali was shocked to see his entire account wiped out in a single day. When he called the RA, he was told that the market had been highly volatile, leading to the loss. However, the RA assured him that recovery could be possible if Ali added more funds.
Having already lost a significant amount, Ali decided to stop trading and lost hope of recovering his money.
One day, Ali came across our video on YouTube. After watching it, he shared his details with us. Our team promptly called him, understood his case, and helped him follow these steps:
- Since the RA was SEBI-registered, our team decided to contact him directly.
- We drafted an email on behalf of Ali and asked him to send it to the RA’s official email address.
- After a few days Ali got a response by mail, where RA apologized for loss and said that it was due to one of his employees’ negligence.
- Our team didn’t stop there and sent another email.
- Eventually, the RA agreed to refund the fee, and Ali recovered the ₹25,000 he initially lost.
The process, however, hasn’t ended. Our team is continuing to follow the regulatory process to recover the remaining losses.
This case sets an example for other victims who have been misled or misinfluenced by registered entities and have lost money as a result.
Since the case involves a SEBI-registered RA, the chances of recovering the lost amount are higher. The only things required are regular follow-ups and a little patience.
