Stock Scamster Rahul Verma On The Prowl, Says NSE

 

BizNewsConnect dialed this Rahul Verma and he feigned ignorance about the NSE public notice.

By B N KUMAR

MUMBAI, Sep 11 (The CONNECT) – The National Stock Exchange (NSE) has cautioned investors to beware of a self-styled advisor called Rahul Verma promising assured results using the mobile number 96854 18060.

“It has been brought to the notice of the Exchange that person named “Rahul Verma” operating through mobile number “96854 18060” is providing assured returns on investment in stock market and offering to handle trading account of investor by asking investors to share their credentials,” the NSE said.

BizNewsConnect dialed this number and the receiver feigned ignorance about the NSE caution. The receiver howver confirmed that the platform deals with stock market investment tips. The Truyecaller ID shows the number as Stock Share Group.

One wonders as why the NSE has not yet yaken any criminal action against this “operator”.

The investors are cautioned and advised not to subscribe to any such scheme or product offered by any person offering indicative, assured or guaranteed returns in the stock market. This kind of activity is illegal, NSE said.

Further, the Exchange advised investors not to share their trading credentials such as user id/password with anyone.

This Rahul Verma is not registered either as a member or authorized person of any registered member of the National Stock Exchange of India Limited.

The Exchange has provided a facility of “Know/Locate your Stock Broker” on its website to check the details of the registered member and its Authorized Persons. Further, the designated bank accounts named as client bank accounts to receive/pay money from/to investors as disclosed by the trading members to Exchange are also displayed under the said link. Investors are advised to check the details while dealing with any person.

Participation in such prohibited schemes is at investors’ own risk, cost and consequences as such schemes are neither approved nor endorsed by the Exchange.

The investors may note that for any kind of disputes relating to such prohibited schemes none of the following recourses will be available to investors:

  1. Benefits of investor protection under Exchange’s Jurisdiction
  2. Exchange dispute resolution mechanism
  3. Investor grievance redressal mechanism administered by Exchange