If a company approaches you and tells you to invest 1 lakh rupees and they will give you 1% - 2% return per month, and assures you that you can withdraw this money from your bank account anytime, then there are chances that someone might get trapped in this scheme. Especially, retired individuals with higher savings are more likely to fall into this scheme.
Something similar happened with 300 to 400 people from Jamnagar, Gujarat, who were cheated of 30 to 40 crore rupees, and the fraudsters fled to Dubai and then Morocco. In this video, we will try to understand the entire case.
The Exchange found out that some people named “Dhara Bhardiya” and “Dhaval Solani” linked with a company called “Creditbulls India” are taking money from the public. They promise to give back definite/guaranteed profits if you invest in the stock market.
The Exchange warns investors not to join any such plan/product offered by anyone promising fixed returns in the stock market because it's against the law. Also, these people/companies are not registered with the National Stock Exchange of India Limited.
If you want to know about registered stockbrokers, you can use the “Know/Locate your Stock Broker” service on the Exchange's website. It helps you find details of registered members and their authorized people. The Exchange also shows the bank accounts where investors send or receive money from trading members.
If you get involved in such illegal schemes, you are taking a risk. The Exchange doesn't support or approve these schemes. If you face any problems with these schemes, you can't seek help from the Exchange. They won't provide: Investor protection, Dispute resolution, Grievance redressal.
So, be careful when dealing with any company. Remember, the Exchange warns you to pay attention to all this information.
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00:00 Intro
01:12 How do people get trapped in this Ponzi scheme?
04:06 Creditbulls Ponzi Scam explained
05:35 What is Ponzi Scheme?
06:29 NSE Advisory
07:27 People who trapped in this Ponzi scheme
07:53 Things to keep in mind in Collective Investment Scheme
09:20 Steps that should be taken is this case