Quick Summary
Wisdom Capital is an Indian stock broking brand linked to Ashlar Securities Pvt. Ltd., and fraudsters have copied its name. In 2023, SEBI barred two operators of the Wisdom Capital group, linked to a site called wisdomcapitalgroup.com, for giving investment advice without registration. It also ordered a ₹99.86 lakh refund. A video alleges the site showed profits, then charged fees at withdrawal. This post explains the Wisdom Capital impersonation scam, how it allegedly worked, and what to do if you paid.
You search for a broker you trust and land on a website with the right name, even the right SEBI registration number.
You send your first ₹10,000, watch the profit figure climb, and then try to withdraw.
That is the pattern behind the Wisdom Capital impersonation scam, according to a SEBI order and a video from an investor.
Here is what happened, what is only alleged, and how to check who you are really dealing with.
What Is Wisdom Capital?
Wisdom Capital is an Indian stock broking brand associated with Ashlar Securities Pvt. Ltd.
It gives investors and traders access to stock market trading services and tools.
This post does not allege anything against that broker.
The problem is that fraudsters have used similar names and identities to promote unauthorised financial services and mislead investors.
If you want to read what customers say about the real broker’s platform, charges and support, Wisdom Capital reviews covers those complaints.
Your research also notes that another scam runs outside India under the same name.
This post covers only the version that operates in India.
Wisdom Capital Impersonation Scam: How Fraudsters Misused the Name
The name has been used in at least one documented way in India. This section covers the fake website and the SEBI order that followed.
1. Fake Wisdom Capital Website Targeted Indian Investors
A website at wisdomcapitalgroup.com was linked to unauthorised investment advisory services.
The operators allegedly misused the name and the SEBI registration details of the legitimate business to look genuine.
The site promoted paid stock market recommendations, including advice on futures and options and on commodities.
Investors faced the risk of sending money to accounts that had nothing to do with the legitimate broker.
Copying a trusted platform’s identity is a familiar move in trading frauds, and the way clone trading app scams work shows why a look-alike site can fool even careful investors.
2. SEBI Bans Two Operators and Orders a ₹99.86 Lakh Refund
Moneylife reported on 23 February 2023 that SEBI had barred Shubham Rai and Rajesh Nath, described as operators of the Wisdom Capital group, from the markets for three years.
SEBI found they had provided investment advisory services without registration.
SEBI also ordered the two to refund ₹99.86 lakh collected from investors within three months.
In the order, SEBI whole-time member Ashwani Bhatia noted a complaint from one investor and another from a firm called Wisdom Capital Advisors Pvt Ltd, based in Uttar Pradesh.
That firm alleged that wisdomcapitalgroup.com, “created by some imposters”, used its name and SEBI registration number to induce clients to invest.
The complaint also said payments were collected in the individual accounts of the imposters, and that clients were cheated through the website.
SEBI’s website later listed a notice of demand for a recovery certificate, dated 25 January 2024, in the matter of M/s Wisdom Capital Group naming the same two individuals.
We could not read the amount in that notice.
Did you deposit money on a website using the Wisdom Capital name and now cannot withdraw?
You can register a cyber crime complaint with the receipts and screenshots you already have. If you want someone to go through your case with you, Register with us.
How the Wisdom Capital Group Impersonation Scam Allegedly Operates
This section follows the pattern described in a video report from an investor, matched against what SEBI’s 2023 order says about payments.
The video’s claims are allegations, and we describe them that way.
According to the video, the operators of wisdomcapitalgroup site attracted investors by offering portfolio management services under the name of Wisdom Capital, a legitimate broking brand.
The website reportedly used the genuine firm’s name and SEBI registration details to look credible.
- They collect the investors’ money. Investors were encouraged to deposit money for stock market trading and portfolio management. SEBI’s 2023 order says payments for the unauthorised advisory services went into the operators’ individual bank accounts.
- They show early profits. The video alleges the operators first showed profits on investors’ accounts, so people believed their money was growing.
- They add deductions at withdrawal. When an investor tried to withdraw, the operators reportedly calculated a 20% profit-sharing fee and added GST. The investor in the video allegedly paid extra on top of the first ₹10,000.
- The money shrinks before it leaves. The video claims the operators kept trading with the investor’s capital and the displayed profits. While the withdrawal waited to be processed, the trades allegedly produced losses that wiped out the funds.
- They block the account. When the investor complained, the account was reportedly marked inactive, and the investor was told to contact the adviser. The video says the investor could not recover the money.
A Video Alleges Profits Shown, Then Withdrawal Obstacles
One investor’s story shows how the pattern looks from the inside.
This section covers the video, the example it gives, and what it cannot prove.
A video titled “Wisdom Capital Group dot com is a fraud and fake company” from a channel called B Alert makes the claims above.
It says the site used the name of an established broker to attract investors to its portfolio management services.
The video appears to date from around 2020, and at the time of the screenshot, it had 274 views and two comments.
To show how it worked, the speaker describes an investor who deposited ₹10,000 and was shown profits of about ₹9,300.
When the investor asked to withdraw, extra charges were allegedly calculated, and the payment was delayed for several days.
During that delay, the funds were reportedly reinvested in shares.
The trades lost money and left the investor with a negative balance of about ₹700.
The video says the website then deactivated the account and told the investor to contact an adviser, without fixing the problem.
The video description says the company looted money from traders in the name of portfolio management services, and urges people to report to the nearest cybercrime police station.
It also names individuals, which we have left out because the claims are unverified.
These allegations have not been independently verified from the video alone.
One commenter says the same happened to them. A reply points to a 2020 article on a third-party site, which we have not opened.
How To Check Whether You Are Dealing With the Real Wisdom Capital?
The case shows that a familiar name and a SEBI number on a website prove nothing by themselves.
This section lists the checks that would have caught the fake, in the order worth doing them.
- Check the website address. Compare the exact spelling of the domain with the one on the company’s official materials, and do not trust a link sent on WhatsApp or by a caller.
- Look up the registration number yourself. A number printed on a website can be copied. Search it on SEBI’s own registered intermediary list and check that the name, address, and type of registration match what you were offered.
- Check the registration type. Portfolio management and investment advice need specific registrations. A stock broker registration does not let a site sell paid recommendations or portfolio services.
- Match the payment recipient. Payments in the SEBI order went to individual accounts. A registered firm should ask you to pay into an account in its own name, never a person’s.
- Test a small withdrawal early. If a site lets you deposit but adds fees, GST, or delays when you try to withdraw, stop adding money.
Profits on a screen can mislead.
A figure on a dashboard is not money in your bank, and fake trading profit screenshots explain how easy such displays are to fabricate.
What To Do If You Paid a Fake Wisdom Capital Website?
If money has already left your account, the first hours matter most.
This section gives the order to follow, so you can work through it one step at a time.
- Stop paying anything more. A fee, GST, or “release charge” asked at withdrawal is part of the pattern described above.
- Save your evidence. Keep payment receipts, the website address, screenshots of your account and profits, chats, and the names of any “advisers”.
- Report on the cybercrime portal. File online at the cybercrime portal or call its helpline.
- Tell your bank or payment app. If you paid by UPI, it also helps to report the UPI fraud with the transaction details.
- Lodge an FIR. Take your evidence to the nearest police station or cyber cell.
- Write to SEBI.SEBI has already acted against operators linked to this site. If you decide to write to SEBI, the steps for a complaint in SEBI show how to send it by email.
Conclusion
The name Wisdom Capital belongs to a real broking brand, and a fake website allegedly used it, along with a SEBI registration number, to collect money from investors.
SEBI barred two operators of the group and ordered a refund, which shows how seriously the regulator treated it.
A familiar name and a registration number on a website prove nothing until you check them yourself.
Verify the domain, search the registration on SEBI’s own list, and pay only into an account in the firm’s name.
If you have already paid, report it quickly and keep every record.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
In 2023, SEBI barred two operators of the Wisdom Capital group for giving investment advice without registration. A firm complained that the site used its name and registration number.
Wisdom Capital is a stock broking brand associated with Ashlar Securities Pvt. Ltd. We have not verified its registration, so check it on SEBI's list before you deposit.
SEBI barred two individuals from the markets for three years and ordered them to refund ₹99.86 lakh collected from investors within three months.
No. A number on a page can be copied. Search it on SEBI's own list and confirm the name, address and registration type match.
Stop paying, save your evidence, report at cybercrime portal, tell your bank, and lodge an FIR. You can also write to SEBI.
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