Meenal Rathi (name changed) is a beginner investor from Indore. Her first clue that something was wrong was not a trading loss. It was an invoice with a stranger’s name printed on it. She was contacted by a man who introduced himself as an advisor working for a firm registered with SEBI as a Research […]
Divyansh Singh (name changed) began receiving calls and messages from representatives of a firm registered with SEBI as a Research Analyst. They offered trading recommendations and pushed him to pay quickly. He paid ₹1,50,000 across five transactions within two days, without clear fee terms explained in advance. The pressure to pay fast left little room
Ritu Singh (name changed) was already nursing losses from earlier trading when a firm registered with SEBI as a Research Analyst called her out of nowhere. They cited their SEBI registration repeatedly as proof of legitimacy. She was told her losses would be covered if she let their team manage her account directly. Trusting the
Mukesh Raj (name changed) received a call from a representative of a firm registered with SEBI as a Research Analyst. The call opened with screenshots of other clients’ alleged profits, sent over WhatsApp to build quick trust. He paid around eleven thousand rupees for an entry-level package. Trading calls followed soon after, and one of
Aman Tiwari (name changed) traded only in cash market stocks. He had no history in futures and options when a firm registered with SEBI as a Research Analyst called him with an offer of a free trial. The trial produced a small profit within days. On the strength of that result, he paid twenty-five thousand
Vikram (name changed) joined a SEBI-registered research analyst service in early 2025 and paid an initial fee of ₹1,20,000 for a six-month package under one entity. When the six months ended, the same representatives contacted him again, this time under a different firm name with its own separate SEBI registration. He was told the new
Harpreet (name changed) joined an algo trading plan in mid 2025, paying in stages as he moved through starter and upgraded tiers of the service, totalling ₹70,000 over several months. For the first stretch of the relationship, automated signals arrived as promised, timed to specific stocks and quantities, delivered through the app the firm had
Neha (name changed) was approached in late 2024 by a SEBI-registered research analyst offering a premium package with an unusually attractive promise: a fixed three percent monthly return. The guarantee was printed clearly in the sales brochure handed to her during an in-person meeting. She paid ₹1,50,000 to join the highest tier. For Neha, the
Devendra (name changed) first came across the firm through a paid social media campaign claiming the service was fully SEBI-compliant. Its website and brochures prominently displayed a registration number, making the firm appear legitimate. Trusting those claims, Devendra paid fees in several instalments under different scheme names. By the end, he had paid ₹3,11,000. Then
Ritu (name changed) signed an annual agreement with a SEBI-registered investment adviser in mid 2024 for a fixed fee of ₹3,50,000, covering portfolio strategy calls and quarterly reviews for the full year. Five months into the contract, the adviser informed her that the fee was being revised upward due to what they called increased market
Farah (name changed) came to us after paying ₹1,58,000 for what she believed was automated algorithmic trading software. The pitch sounded convincing. During the sales demo, the firm ran two trades that appeared to be placed by the algo, both of which made profits. They also showed past performance figures to build confidence. Farah paid
Manoj (name changed) thought he had found a simple deal: free daily trading calls with no advisory fee. The only condition? He had to open his trading account through a specific referral link. He followed the instructions and started taking the calls. Over the next five months, the recommendations became increasingly frequent, with quick entries
