Urgent Alert: Sebi’s Stern Warning to Protect Investors from Deceptive Schemes by Unregistered Entities | Crucial Market News

NSE Issues Warning Against Fraudulent Activities by Fake Entity

The National Stock Exchange (NSE) has cautioned investors about fraudulent activities by an entity falsely claiming to be "Lazard Asset Management India." The warning follows a complaint about a WhatsApp group named "JO HAMBRO," which lures investors to buy shares at discounted prices after market hours. The group has purportedly collected money from retail investors under the guise of a "Seat Trading Account."

NSE revealed that "Lazard Asset Management India" is misrepresenting itself as a registered stock broker with the Securities and Exchange Board of India (Sebi) using a counterfeit registration certificate. "No entity by the name of ‘Lazzard Asset Management India’ is registered with SEBI as a stock broker. The circulated registration certificate in the WhatsApp group is entirely fabricated and illegitimate," stated NSE.

Investors are advised not to engage with such entities and to verify the credentials of any financial entity before involving in transactions or transferring funds. The exchange also warned that those dealing with unauthorized schemes would not have access to the exchange’s dispute resolution or investor grievance redressal mechanisms.

Original Story https://www.business-standard.com/markets/news/sebi-warns-investors-against-fraudulent-activities-by-unregistered-entity-124091201058_1.html
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