NSE Warns of Fraud by Fake Stockbroker Using Forged SEBI Registration

National Stock Exchange Alerts Investors to Fake Stockbroker Scam

In a crucial alert for investors, the National Stock Exchange (NSE) has issued a warning about fraudulent activities linked to a so-called stockbroker, Lazard Asset Management India. This entity is falsely claiming to be registered with the Securities and Exchange Board of India (SEBI) using a fake registration certificate.

Warning on WhatsApp Scam: ‘JO HAMBRO’

The NSE’s warning comes in response to a complaint regarding a WhatsApp group named ‘JO HAMBRO’. This group is deceiving investors by offering shares at discounted prices outside of regular market hours and collecting money under the guise of providing a ‘Seat Trading Account’. The group falsely presents Lazard Asset Management India as a registered stockbroker, furthering the scam.

Fake SEBI Registration Certificate Revealed

• No SEBI Registration: The NSE has clarified that Lazard Asset Management India is not registered with SEBI as a stockbroker.
• Forged Certificate: The registration certificate being circulated within the WhatsApp group is entirely fabricated and illegitimate.

How to Protect Yourself from Fraudulent Entities

The NSE advises investors to be vigilant and avoid dealing with unauthorized persons or entities. To safeguard yourself, follow these steps:

• Verify Credentials: Always confirm the regulatory status of any financial entity before making transactions.
• Check Registration: Ensure that the stockbroker or financial service provider is officially registered with SEBI.
• Avoid Unverified Offers: Be cautious of deals and investment opportunities offered outside regular market hours or through unofficial channels.

For more information on verifying stockbroker credentials and protecting yourself from financial fraud, visit NSE’s official website or SEBI’s official website.

Stay informed and secure your investments by only dealing with verified and registered entities.