Recently someone I know was a victim of a fraud. I am putting it out here so that others are aware:
A thread:
(1/n)
A thread:
(1/n)
As many traders do, I have my telegram channel as well and allow people to comment on the messages I share.
There is an active chat group as well.
(2/n)
There is an active chat group as well.
(2/n)
One day, I shared a message that I entered a short strangle and one gentleman asked sometime later please tell me the strikes.
I was busy and did not notice the message.
(3/n)
I was busy and did not notice the message.
(3/n)
A fraud who was part of the group DMed the person who asked the question. This fraud used my name and put my dp.
He told the guy "Strikes and other updates are shared in premium calls group" for which you have to pay a certain amount.
(4/n)
He told the guy "Strikes and other updates are shared in premium calls group" for which you have to pay a certain amount.
(4/n)
The gentleman thought it was me who was messaging and paid X amount for the learning group.
Sometime later the fraud messages again telling while you are waiting for learning to start, join my demat acc services. I will trade. Charges are X amount.
(5/n)
Sometime later the fraud messages again telling while you are waiting for learning to start, join my demat acc services. I will trade. Charges are X amount.
(5/n)
The charges were paid and the fraud blew up approx 24% of capital in a single day.
The gentleman checked the trade log and saw that most of the trades were of option buying whereas KT mostly shares option writing trades.
(5/n)
The gentleman checked the trade log and saw that most of the trades were of option buying whereas KT mostly shares option writing trades.
(5/n)
Then he reached out on my number posted on my website and that is how I got to know about the whole fiasco.
I back tracked every step and found the modus operandi of such fraudsters.
(6/n)
I back tracked every step and found the modus operandi of such fraudsters.
(6/n)
They join popular telegram channels and keep the name and DP of the original admins.
Whoever comments asking for learning/queries - they DM and try to cheat them out of the money.
(7/n)
Whoever comments asking for learning/queries - they DM and try to cheat them out of the money.
(7/n)
Before paying someone for any service, please double check if you are paying the right person.
Do NOT transfer money to any direct bank account.
Traders who charge for services - Use payment provider services so that such frauds can be curbed to the possible extent
(8/n)
Do NOT transfer money to any direct bank account.
Traders who charge for services - Use payment provider services so that such frauds can be curbed to the possible extent
(8/n)
Provide a proper invoice for the services provided.
Please re-tweet so that others are aware and these kind of instances can be avoided.
#StockMarket
Please re-tweet so that others are aware and these kind of instances can be avoided.
#StockMarket
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