Yesterday we were discussing with our team and @siva mentioned how these scams keep happening and it is a century old trick that still works because of greed. Came across this article today and was wondering how, despite caller tune warnings, TV ads, and constant talk about stock market fraud, it’s still sad to see these scams happening.
Here’s how it went:
The businessman from Noida was first contacted by a woman named Rishita, who claimed to be a financial analyst. She asked him to invest through websites like catalystgroupstar-com and pe-catamarketss-com. He started with 1 lakh and was even allowed to withdraw 15,040 as profit, which built his trust. Over the next few weeks, he kept investing and ended up putting in 65 lakh. They showed him that his investment had grown to 1.9 crores but later asked him to pay 31.6 lakh as taxes and 18.6 lakh as conversion charges to withdraw the money.
Even after paying, he got nothing. When they asked for another 40 lakh, he finally realised it was a scam. So many red flags, but too late.
Linking this video here. We published it a few days ago explaining how fake trading apps are being used to scam people. We even came across cases where our name was misused. They add people to WhatsApp or Telegram groups, show fake profits, and later block withdrawals by asking for fake taxes or charges.
Share this around with anyone you think should know. If you’ve got any thoughts on how something like this can be tackled, do share.
Yes sir, I have come across a potential scam. I think some scammers are impersonating ActiveAlpha Capital (FII)
here’s their website: m-activecapital-cc
I have also checked domain registration, it shows 10 Feb.
They also have an app named “Act Alpha” on Playstore
Here’s the link : play-google-com/store/apps/details?id----clock.out- notic
The app claims to be a Time assistant, but when you open it, turns out to be the same web app.
Probably it’s a fake trading platform?
What do you think?
The URL is suspicious, and all those reviews seem made up. I checked the link in incognito. There’s some weird recharge option, which no legit broker ever uses this term.
Plus, there’s no broker license number anywhere on the site, which is mandatory. The whole thing is just a copy of some app’s UI. It’s best to avoid clicking on it.
In my city, a new type of scam is going on. Many offline coaching centres have come up at different locations to give trading classes. People join these centres and pay tution fee. They teach for a few days and then in the name of practical training ask people to open accounts with some unnknown trading apps. These centres claim that they have tie ups with these apps and they will offer better rates. People open accounts and deposit money. After that these centres disappear overnight and the money they deposited on these apps is gone. One or two cases have been reported in not so popular local newspapers but there are plenty of them.
@ANKIT_T ya bro happning frm long time. i joined one of the class he told me open ac in upstox or dhan… say he partner n gets comision on my trade. told its standard thing in this indstry… if unkown app then risky bro… need to be carefull… which place u seeing dis cases?
