The most unfortunate part of Stock Market Scams is the most of the scams happen without any involvement of any registered Stock Market entity. Most of these frauds are done by a mix of greedy people who just use the name of Stock Market to lure people.
Below is a case of Mr. Vijay Bharate from Maharashtra where is describes how he was befooled by a known name on YouTube and also, in the city of Pune. This is what he said:
Tushar Bhamkar conducts offline classes in Pune, teaching intraday trading in the commodity market. He also has a YouTube channel with the name “Technical Trade Consultancy”.
He shares his commodity profits on his YouTube channel and Marathi news channels, attracting thousands of people into his trap. His course fee is ₹55,000. He claims to teach 17 topics that he has patented and promises that after completing his course, you won’t need to work anywhere else.
And in today’s world, everyone looks to be financially free or may be retire early. This person preys on that premise.
This is the summary of my Experience :
- I also took his course and got trapped. Since I didn’t have the money, his team helped me get a Bajaj Finance loan. Yes., I took at loan to get into his classes.
- He has a software with a monthly cost of ₹2,400. He only teaches how to use this software for 4 days.
- He says that using the software is not mandatory and provides 3 months of free software.
- When we decided to trade without the software and faced issues, we called his support team, but they refused to help. They said that if we don’t use the software, they can’t help us. The entire 4-day course depends on the software, which they don’t disclose initially.
Conclusion: Don’t get lured into any tall promises or claims made in the name of Stock Market. Most likely, such promises are shallow.
Trust folks who talk realistic stuff and tell you about their classes, workshops, teaching plans, curriculam and things related to education.
I learnt this the hard way by wasting my hard earned money and time. Hopefully, no one else has to go through it.
My thoughts are inline with what Vijay has said in the conclusion. It’s all about learning and dreams are just there to invoke your greed. Don’t fall for that trap.
