Adviser Street — they purposely entered into wrong trade to make me lose money
This is the way i got cheated: as usual i got a long call for investment. They ask various details about how much money i can invest, knowledge of trading, present investments etc – to get clear picture of me. They lured me by saying they will trade for me and make big profits and i got trapped. They asked 5000/- first. Then asked 200000/- for risk management services which i denied. Now they asked my client id & p/w of angel broking dp, i gave that. First day trade invested about 12 lacs and position turned in profit of 2.2 lacs. But before closing of market and booking profit a phone came for depositing 2 lacs immediately for adviser charges. I thought ok i will get at least 20000 profit and i will be paying through my profit so i paid 2 lacs.
Next day, as my id and p/w were with them, they put my 15 lacs in future trade. They told me not to login into angel account as they are watching trade and they may be in a position to book profit. They bought 4 lac shares in futures segment and now they suddenly called me & told, my position turned out to be in loss of 11 lacs and to recover that i have to pay 10 lacs right now. My position was auto squared off at 80% loss and on the 2nd day itself i was in loss of 11 lacs.
I got too much frustrated and out of my mind, my brain stopped working, i was clue less. As it was evident that only they were monitoring my position how come it suddenly turned out to be loss making? For this they said i myself might have operated my account and put that huge position. But as they had instructed me to not to login while trade is on it was sure that they purposely misinformed me. Later they said another expert from there company operated my account and that expert has been sacked today itself due to loss incurred to me. This was another bluff.
I kept assuring myself and i was now determined to not to get into there lure henceforth. On the third day there phone came saying they by mistake yesterday put wrong trade & asked to pay just 2 lacs so that tomorrow they can put some other expert to work on my account and recover my loss. For this i said, i am ready to pay only through profit you make to me and they said ok agreed and asked for my id & p/w which i could not stop myself from giving. When they opened my dp a/c they noticed i have put order to withdraw 1 lac and there were 6 lacs in ledger balance. Now they put trade and told me not to login in between.
Till 1 pm they kept on saying that i am in profit by more than 2 lacs, to which i believed and asked to deposit 2 lacs as there fee. I told them i will deposit once trade is finished, to this they agreed. Suddenly i got message from angel that your position is in 7 lacs loss. I tried to contact adviser street.com, but they were not lifting ph, time was running out. Ultimately they said now they can not do anything as i have not given them 2 lac fee of risk management!! In this way in three trading sessions i am in loss of 18 lac plus the fee i gave to them.
You will know that even when in profit they will suddenly call and tell you to deposit that much profit in adviserstreet.com a/c and if not paid they can turn the trade in severe losses. This is the thing happened to me. On profit earned in the market one has to pay brokerage, income tax and what not but they get direct money from your profit without all these expenses, that money is going into some fake account or as a consultancy fees which they don’t have to pay tax. More importantly they earn without taking any capital risk.
So friends i have explained what is there modus operandi, i request you to not give your id & password to anybody at any cost and please do not fall into trap for the sake of huge dreams. This is a big big trap. Save yourself. When they call there names are fake so here i have not mentioned there names.
