NSE issued warning for investors
The leading Indian stock market exchange NSE (National Stock Exchange) on Thursday issued a warning to investors. NSE has warned stock market investors about fraudulent activities carried out by a unit named Lazzard Asset Management India. NSE received a complaint against a WhatsApp group named “JO HAMBRO”, after which the exchange has issued this warning to stock market investors.
A unit named Lazard Asset Management India used a fake registration certificate
This WhatsApp group named Joe Hambro lures stock market investors with offers to buy shares at cheaper prices after the market closes. This WhatsApp group has allegedly collected money from retail investors under the guise of a “seat trading account”. The exchange said that a unit named Lazard Asset Management India in this group is misrepresenting itself as a stock broker registered with the Securities and Exchange Board of India (SEBI) by using a fake registration certificate.
The fake certificate being shown in the WhatsApp group is completely illegal
NSE said in a statement released on its website, “We would like to clarify that no entity named Lazard Asset Management India is registered as a stock broker with SEBI. The fake SEBI registration certificate being shown in the WhatsApp group is completely fabricated and illegal.”
Advice to verify the financial institution before transferring funds
The stock market exchange NSE has cautioned investors and advised them not to enter into any kind of transaction with such persons or entities in any manner. Along with this, SEBI has advised investors to verify the credibility and regulatory status of any financial institution before engaging in any transaction or transferring funds.
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