Equity share fraud
SANJAY
(Querist) 23 January 2016
This query is : Resolved
Dear All,
I have a demat acct. with broker who make huge loss in my acct. by trading on my behalf by assuring me making of good profit on margin amount of my equity shares.
They sold 90% shares from my acct. to pay the losses occurred due to their negligence.
I feel cheated , & due to huge loss, I was been hospitalized due to shooting up blood pressure, I'm frustrated & went in deep depression , which adversely affect my physical health. I humbly request the expertise in this area to guide me to compensate my losses from stock broker's firm.
Thank you in anticipation ,
Anirudh
(Expert) 24 January 2016
Stock broker will operate only on your instructions.
However, in this case it seems that you have given your trading account number, password etc., to the broker to do the buying and selling of the shares on your behalf.
You are to be blamed. There is no legal solution to your problem.
Rajendra K Goyal
(Expert) 24 January 2016
Did you know that unauthorized transaction are being done in your account by the broker?
Did you received mail / SMS or any other information regarding transaction?
Were you negligent in authorizing the broker to proceed on your behalf for some authorized transactions?
Guest
(Expert) 24 January 2016
Mr. Sanjay,
What about the lists of transations of share trading, which you would have been receiving from the broker? What action did you do on receipt of such trade trnsactions when the broker made huge loss in your account, if you think the transactions were made without your knowledge?
Secondly, had you not been receiving the debit/ credit intimations from the company maintaining your demat account?
K.S.Srinivas
(Expert) 04 February 2016
As the broker acted on your instructions, it appears you have no legal solution.
