RAUDULENT PRACTICES IN TRADECRED : A CALL FOR ACTION
As a retail investor, I was deceived by TradeCred Private Wealth and their Relationship Manisha kumawat who provided fake reports to mislead me into purchasing fraudulent deals. She assured me these deals were from Bizongo and could be easily liquidated within 2-3 days. The truth, however, was that I was misled and defrauded.
1. The relationship manager provided fabricated reports, claiming that Bizongo was financially sound and had no overdue loans, assuring me the deals were secure and liquidable.
2. Despite being overdue(since 28th November), she sold these expired investments as new opportunities, by giving me fake deal reports, on 11th November 2024, misrepresenting their status to me.
3. The manager knowingly sold me overdue deals as fresh, liquidable investments, leaving me holding illiquid worthless assets.
4. Tradecred RM facilitated 3 other investors’ exits by offloading their overdue deals onto me, allegedly for bribes and commission.
5. The relationship manager has completely stopped responding to calls since more than a month now. Her senior, Abhishek Rajesh Pawar (as he claims), Hardik Shah, Rajesh Chavada ,provided no resolution or updates and even he has stopped responding.
I call on TradeCred Private Wealth's, CEO, Hardik Shah, and Kunal Tekwania, to address this issue of fraudulent practices in their company and demand that the Reserve Bank of India (RBI), SEBI and Cyber Crime Agency to regulate platforms like TradeCred to prevent such frauds of selling overdue deals by misleading informations. I urge stronger protections for investors to safeguard their hard-earned money. While taking LTCG and STCG taxes the government doesn't consider the investor's risk behind the specific investment, so I would like to ask the Finance minister, Nirmala Sitharaman, and our Honorable Prime Minister, Narendra Modi, that we have ., Reserve Bank of India (RBI) and Cyber Crime Agency who are paid with the citizens' tax money just to facilitate these frauds by big corporates or to safeguard the public retail investors' wealth from frauds??
6 december 2024
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