Invest Rs. 2 lakh in ‘Tip Top Future Package’, Take home Rs. 21 lakh
Swapnil Prajapati, the mastermind behind ways2capital.com and Highbrow Market Research, knows that novices are easily enticed by promises of huge gains, especially if they are backed by fancy sounding packages.
So, he lured people by offering various exotic packages by name ‘Tip Top Future Package’, ‘Option Signature Pack 99 Calls’, ‘Bonanza Agri Grand Premium’, ‘Smudge MCX Package’, ‘Happening MCX Package’, ‘Decisive cash package’, ‘Tried Blue Currency Package’ etc.
He also promised exorbitant returns.
Dipak Kumar Thakkar, a raw novice, feel hook, line and sinker for the claims.
He invested Rs. 68 lakh in anticipation of taking home Rs. 30 crore.
“My father got many calls from highbrow and company executive told him that we provide operator base work and it’s sure call so you will not have chance to lose money. Company executive lured my father to earn 30 crores by investing 68 lac…” he recounted, his eyes moist with tears.
Ashish Kumar Makati was assured of a return of 250% in just 45 days.
Naturally, he rushed to hand over Rs. 72 lakh of his hard-earned money.
“Till date I have made a total investment of Rs 72,45,738 in the scheme of the company from my various bank accounts and credit cards to the various payment methods of the company. I was asked by their promoters to subscribe to higher package with a commitment to me of return of 2.5 times of my investment in 45 days’ time,” he told SEBI.
Antos Vaz, who dreamed of riches through intra-day trading, was also fooled by Highbrow.
He was promised returns of 350% through intra-day tips.
“…If I pay and Opt for a service of X amount I will be provided intra-day tips which will provide a profit of 3.5 X amount….,” he reminiscenced.
Threaten clients with forfeiture of old packages if they do not subscribe to new packages
Highbrow Market Research adopted a brilliant “carrot and stick” modus operandi by which they exploited the “greed and fear” tendencies of their clients.
They followed the strategy of showing that some amount is always remaining to be paid by the client and putting the client under pressure to pay the same.
A strict deadline was imposed and the client was threatened with forfeiture if he did not pay up or subscribe to a new package.
Anto S Vaz‘s case is a textbook example of how the scam worked.
He subscribed for the services of Highbrow and paid Rs. 5,000.
Within the very first month of his joining, Highbrow had taken payment of Rs. 8,71,819 from him.
During this very month 5 packages (i.e. Decisive Cash Package, Candid Cash Package, 2 separate Bounce Cash Packages and Locomote Cash Package) were sold to him.
In fact, Antos Vaz was so gullible that he paid for the same package on two occasions.
“Multiple Packages have been sold to Mr. Vaz over a period of around 2 months. Several packages have been sold twice or more. It is surprising to note that the payment receipts mention the tenure of service till the target profit is achieved, but even then, the same package is again sold to the client. For instance, Locomote Cash Package was first sold to Mr. Vaz on October 11, 2017 and then again on October 13, 2017 another Locomote Cash Package was sold to him before the tenure of the earlier package could end or the target could be achieved,” Hon’ble Madhabi Puri Buch of SEBI has observed in an incredulous tone.
A holy grail guide to be Twitter's No.1 trader.
Step 1: Make FD of few crores.
2: Mark FD as margin at a broker.
3: Take large positions.
4: Take counter positions in another a/c
5: One account will be in profit.
6: Share the screenshot.
7: You are the Boss.@Amit_Gulecha— Yatharth VASHISHTH (@yatharth_v) May 24, 2019
@NSEIndia @BSEIndia #SEBI some serious regulation needs to come for social media for so called traders who daily post their collective clients MTM on twitter and then try to lure innocent retail investors to come and attend their seminars and teach them options writing 1/n
— equipolitico (@equipolitico) May 30, 2019
Highbrow rakes in Rs. 105 crore
It is unbelievable but true that by making outlandish claims of exorbitant gains, ways2capital.com and Highbrow Market Research raked in a massive fortune of Rs. 105 crore.
“It is noted that an amount of Rs. 105,15,53,705 has been collected by Highbrow prima facie through fee for fraudulent investment advisory activity,” SEBI noted.
Freezing of bank accounts is too late?
Madhabi Puri Buch, the WTD of SEBI who passed the order, is a highly seasoned captain of corporate India.
She was earlier the Executive Director of ICICI Bank and is well-versed with the shenanigans of fraudsters.
She has rightly observed that if it is found that the money was taken by Highbrow from the clients in prima facie violation of the applicable law, and the claims of the clients are found to be genuine, Highbrow would be liable to refund the money collected by it from the clients subject to the adjudication of the allegations on merits.
She has also noted that during the pending detailed examination in the matter, there is a possibility that Highbrow may divert the money collected from the clients.
She has accordingly frozen the bank accounts.
However, as usual, the law is too late to catch up.
Swapnil Prajapati and the other masterminds behind Highbrow have already withdrawn Rs. 103 crore from the bank accounts.
This implies that there is very little, if any, left in the bank accounts to be returned to the gullible novices!
(Hon’ble Madhabi Puri Buch of SEBI who busted the stocks scam)
‘Stock Guru’ ripped investors off Rs. 1100 crore
The scam perpetrated by ways2capital.com and Highbrow Market Research appears to be loose change when we compare it with the scam undertaken by Lokeshwar Dev Jain and Priyanka Dev Jain.
The duo set up a company named “Stock Guru India” and promised to double investors’ money.
They raked in Rs. 1100 crore and disappeared into thin air before anyone even suspected something was wrong.
The duo was caught by the police though no update is available whether they were sentenced for their crimes and whether any money was recovered!
There are lots of people like this……. I know one person… his you tube channel is “”sureshotformula””… owner name is Akhilesh.. recently he took 40000/- from more than 100 of his clients for giving tips in MCX segment for one year.. and when his calls get wrong.. he put blames on client and says that they don have enough capital to hold the position or average… and if client ask for his wrong calls he threaten them that- he will remove them from the paid members group and all.
First of all Intraday trading is 100 times riskier than positional trading….if one is interested in intraday trading then he/she has to be perfect at controlling emotions while trading and intraday does not mean that you should trade each and everyday, trade only when you are confident. Sometimes in intraday market may be too volatile, huge gap down or gap up opens and you feel levels are out of your strategy then in such situations better dont trade….the main problem with intraday traders is they somehow wanted to enter market first until they take some trade they wont stop analysing different products which is wrong….sit in front of system as if you are not going to trade that particular day, let the numbers move on and you will definetly get one golden opportunity during that day then grab it….never go for paid advisory. If any xyz paid advisory calls you and ask you to take their paid service simply reject their offer since there are many live examples where people lost lakhs and crores going after this paid service….if one is too perfect at trading levels why he/she needs paid clients….there are different trading strategies available learn and trade by your own self…..let me tell you one more very very important thing about small traders, small traders invest 10 to 20k and they keep on loosing and everytime they loose and they borrow from their friends, banks and go for chit’s as well they keep all their money in market anticipating profit everyday and they loose everyday….intraday traders one fine day sit in front of mirror and ask yourself that from how many years you have been into intraday trading and have you manage to end in profit atleast one month just one month and i know the answer will be a big “NO” then why are you pulling money from different sources and investing in market when you are not able to earn at all….intraday traders be alert dont take 100% risk every day……dont trade every day….if one sl hit for that particular day better close your system and start fresh on some other day….make notes of profit and losses every day including brokerages and all….These are my opinions, I am neither advisory nor sebi registered, i was just trying to explain about do’s and don’ts in market…..if i go on explaining one day wont be sufficient….one final thing ask yourself whether you are fit for trading or not and then take decision whether to continue or not
First to blame: the most popular stock brokerages – they leak information of active novice traders’ phone numbers. Otherwise how do these guys/gals telephone the new traders? They do so much sweet talking even without knowing the caller’s gender and name.
Second to blame: again the brokerages only – – they show only the top 5 bids of buy/sell total units and corresponding number of orders. They must show current single max bid units of sell / buy of the instrument as a 6th row. This is is very dangerous and the grand sums of buy/sell units surely misleads the bidders to become victims in the hands of continuous manipulators.
I many times noticed that total buy/sell quantities change/switch over alternatively due to the actions of scamsters. Please observe this in case of some stocks like Hpcl, gmbreweries, naukri etc. for two sessions.
Some stocks are always immune to sensex and traded in quantities like 1 or 2 altering the price trends.
These weak points are exploited by such scamsters to trap new traders.
Now a days forex trading has become another scam. Digitex company is making all the frauds and person named Ranveer Shah, Prasanth Sharma, Abhishek Sharma, Ganesh Patel are scamming people and again threaten them for refund of money. In addition to this continuefx.com is biggest fraud. Lalit Matta, Samuel Joseph, Mehul Rajbhar, Dipesh Patil are name of the people scamming .
There is another Fraud Company in Indore.
Company Name is “Monetary Solutions”.
Their modus operandi is also the same.
First tell the investers for basic package.
Then tell investors to subscribe for higher packages like Oprator based calls.
There is another scammer name GJ – Gaurav Jain. His mobile num is +919148235568. His Telegram channel is GJ Stock Tips – +918105264482
Bonaz capital reasearch is another scammer
Not only in stocks, this had been happening in all fields. The the biggest scams are in Real Estate. Unitech, Amrapali & JP Group (Noida and Greater Noida) are just few names who had fooled and looted the home buyers. I had lost ten lacs for my home in Amrapali Group project and there is no hope of getting it back. Everyone, the Govt of India, Supreme Court knows that the fund had been diverted but no justice to the home buyers and they are moving free and enjoying the looted money.
There is one another kind of fraud happening. On tvs you see a recommendation the share immediately start moving up or down as per the long or short recommendation. It continues till the expert keep discussing the stock and once the discussion is complete, the stock turn vice versa and your stop loss is hit. It happens in 85% cases. This type of loot of traders money is happening daily on tv and no one is complaining. They keep congratulate each other for the target hit (which is on 10-15%) of the recommendations, but never talk for the hit stop losses. I have tried some of them, Wagle gave a call of RBL bank few days back when it 714, that it will touch Rs, 740-45 same day (Anil confirm that it can happen) but just after few minutes of his recommendation, the stock came down to Rs. 709 down and hit Rs. 695, there are many more examples. The modus operandi may be that their paid clients and they themself first purchase or short the stock and offload them when discussion is going on tv. Similarly all DD Sharma recommended stock (e.g Ajmera at 250, Ganesh Benzoplast, Aksh Optics etc) with one year horizon had come down to 50% or more, he gives rosy pictures of the stocks in detail, the stock rise to 10% when he is discussing it on tv and as he finished it comes down. Ajmera was Rs. 175 few days back, as DD Sharma started discussing it it Rose to Rs. 197 and then returned to Rs. 182.
You are right. Even I have noticed the same thing. Stock goes up during discussion on TV and comes down later. Off late too many manipulations/scams are going on and innocents are losing money.
Same thing happened during 2007 bull run . SP Tulsian recommended few stocks on TV and they were UP 20 % in few hrs and after discussion come down to 10-15% off from the original price