Fraud of giving stocks at discount is going on in the market, NSE issued alert

Discounted Share Fraud: Investors are flocking to the market in large numbers in the record rally of the stock market. Along with that, cases of stock market fraud are also increasing. Cases of various types of stock market frauds are constantly coming to light. NSE India has alerted investors about one such fraud.

NSE told- this is how fraud is being done

The National Stock Exchange keeps warning capital market traders about such frauds from time to time. The country’s leading stock exchange NSE has again warned investors about cases of fraud. NSE has also told traders and investors several times before that they should not fall into the trap of any unknown person or body. Such bodies sometimes cheat people in the name of guaranteed returns, and sometimes give other frauds. In the latest case, investors are being lured with shares at a discount after the market closes.

Investors should be careful with these people

NSE said that it has received complaints against a WhatsApp group named JO HAMBRO. People in the group are being deceived that they will be given shares at a lower price after the market closes. This is being done in the name of seat trading account. After receiving the complaint, NSE has issued a cautionary statement. It is being told that money has been collected from many retail investors through this WhatsApp group.

The entity is not registered with SEBI

NSE has cautioned people that an entity named Lazzard Asset Management India in the group is showing itself as a registered stock broker with SEBI. It is using a forged registration certificate. NSE said that there is no broker registered with SEBI by the name of Lazzard Asset Management India. People need to be cautious about it.

Do this work before giving money

NSE has said in a statement that investors should not trust any such entity. The stock market has advised them not to do any kind of deal with any such body or person. Before transacting with any entity and transferring money to it, definitely check its legitimacy.

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