5/16/2023 0 Comments Dupe away full versionHeavy selling in highly manipulated counters impacts the share prices so much that they keep hitting lower circuits consistently, making it difficult to recover even the cost of investment, observed the broker. Once they reach the targeted levels, the insiders take a quick exit only to leave unsuspecting investors in the lurch. The share prices are jacked up artificially by operators in connivance with the promoters. "The strategy of some of the online fraudsters is to lure small and new investors to put money in highly rigged/manipulated penny shares recommended as potential multibaggers," said a broker. And then one day you find the caller not reachable or unresponsive despite repeated attempts to contact him. But, as more days pass, the frequency of updates keeps declining, making you nervous over the fate of your investment in the hands of unknown persons. Initially, you are made to feel good with positive updates on the undisclosed portfolio. Now, all that is left to do is keep waiting patiently for regular updates on your investment. Once payment is credited to their accounts, the caller promises that the money will be invested wisely to maximize gains. You will be asked to subscribe to their investment schemes for which payment will be accepted only online either by debit/credit card or through netbanking facility. Then comes the most important part of the vicious game plan. If you are convinced fully, you will be guided to proceed with online registration with their firms. The caller even tries to lure you with ' hot tips' to start trading on an experimental basis. Disguised as a stock market expert or an advisor, a telecaller approaches you with an offer to invest a certain amount in equity or derivative products on assurance of good short-term returns from regularly offered tips. Those few minutes of conversation with them made me highly concerned about the vulnerability of investors who fall prey to unauthorized stock market experts offering online investment advice with fraudulent intentions. I listened to them patiently but, to their disappointment, declined their offers knowing the consequences very well. ![]() ![]() The callers tried all the tricks to convince me how investing based on their 'expert' advice could change my fortune in financial markets. " Sir, aap commodity trading me apna luck ajmana chahenge? (Would you like to try your luck in commodity trading?" More such calls kept bothering me for many days until one day, out of curiosity, I decided to engage in a complete conversation with a few callers. The next day I received another call from a different mobile number. A bit irritated by the inquisitive tone of the stranger at the other end, I instantly disconnected the call without any reply. "Sir, stock market trading kaise chal rahi hai (how is your trading experience)?" - an early morning phone call caught me unawares while sipping a cup of tea.
0 Comments
Leave a Reply. |