February 17, 2019

FRAUD ALERT: If you get a call from the PFRDA

Take a look at this:

Fraud in the name of PFRDA (PFRDA website)

A family member recently received a call from the number- 96673-83598 (btw, this is Rajasthan MTS number) stating that the caller was a one Ms. Neha Sharma calling from the PFRDA dept.

Yeah, so what chances of somebody sitting in remote Rajasthan wanting to give me back my precious money! Oh, so lucky am I.

Anecdotal evidence suggests that crime is fast moving up in sophistication, from crude chain snatching on the street to using the regulators’ names to induce people to part with their money. The fraudsters prey on a mix of greed, ignorance and regulatory weakness to cheat people. The recent cases of money being collected in the name of PFRDA once more bring focus to the issue of non-registered deposit-collecting entities across the country.

https://www.livemint.com/Money/xRBoUov0uUoTCBoUdbW0PN/When-chor-pretends-to-be-police.html

Since family member was nearby, they put the caller on speaker phone, I checked online if there was a scam running, search google "pfrda scam" and see the results that pop-up. The above 2 links are the ones you can read to understand what the scamsters are trying to pull off.

So this Neha Sharma was 'politely' told to try this on the next number in their database, instead of harassing us.

I could have led them to give me more details and the modus operandi of their scam (bank acct, location, etc etc) but I have no time for now. So posting a heads-up for others who might be lucky to receive a call from these scamsters.

February 4, 2019

FRAUD: Profiquity will make you lose money. PROOF supplied.

So I was checking Profiquity's "investment newsletters" sent to former HBJ clients. Do you think Profiquity is your friend? It is a COMPLETE FRAUD.

Proof?

Check this newsletter that they sent in the month of January 2018.

It mentions 2 companies in it-

1) Lasa Supergenics
2) Sahyadri Industry Ltd

This company takes the cake. Lasa made its all time high on Jan 5, 2018 (Rs 200) and since then been declining.

It is, as of 4th Feb, 2019, at Rs 22.3 (88 % decline).

The second company mentioned in the newsletter, Sahyadri, was at Rs 292 on Jan 5th, 2018. It went up to 314 but since then has declined to 170. (41 % decline).

So if your portfolio consisted of these 2 companies (equal shares of each), your portfolio would have lost 60 % of its value as of today!

And profiquity threatens me with legal action. Nishant, this blog is still waiting to hear from you regarding the legal proceedings you threatened.


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Want to make money in the stock market?

Then check the websites below.
The most important advice to make money in the stock market
Moneylife Magazine  (Paid magazine)
Sanjay Bakshi, a successful value investor
Rakesh jhunjhunwala
Capital Ideas online Value investor Chetan Parikh