fraudulant trades seen in my terminal--solutions pls

srikrp · #21 21st June 2006, 12:38 PM

Quote:

Originally Posted by mojac

Dear Srikanth,
Eventhough I am 100% innocent,my problem is not yet got solved.
Pls send me your email add to me.
My mail Id mohanmanijacob@***************
Pls send me at the earliest.
Thanks
regards
mohan

Hi Mohan,

Please send me your contact number by PM. Dont post it in the public forum here.

I have spoken to my friends in the media.. someone will contact you if you give me ur number.

Regards,
Srikanth

pkjha30 · #22 21st June 2006, 01:49 PM

Quote:

Originally Posted by mojac

Dear all,
If some fraudulent trades happen in a person's terminal provided by a broker(at home)who is responsible?? If all documents supports that ,that particular person is innocent then who is responsible? Even after every investigation (including Police investigation) who is responsible ?
If the IP address of the client &the IP address logged in at the time of the fraudulant trades is different then who is responsible?
If that client has no relationship with the owner of that particular IP address
recorded at the time of the fraudulent trades then who is responsible?
All Ip address logged in has been recorded at the broker's server.
Even after complaining to the broker,NSE,SEBI etc nothing has happened.
Over 6 months elapsed.My margin money (nearly 3 lacs)has been blocked.I dont think I'll get this back.
If this happened to me then this could happen to anybody having trading terminal at home in future..

Mohan

Hi Mohan

So much time has elapsed and still your problem is not solved. So much for Indian Growth Story. However, I would suggest you to file complaints in National Consumer Forum immediately with all the documents.It is based in delhi. You can claim compensation also for wrongfull loss and metal agony and deficiency in service. It will take some six months, I suppose, but will be effective. I am suggesting National Consumer forum given the amount of loss you have indicated. Any appeal will be in Supreme court only.

This is in addition to approaching media.May be you can write to some TV channels.

Pankaj

Agilent · #23 22nd June 2006, 09:37 AM

Quote:

Originally Posted by mojac

hi,
My track record shows,I have traded just 2 options from April--Dec2005.
I usually trade in futures.
In this fraud my loss is about 37 lakhs..

Mohan
Can you elaborate how your loss of Rs 37 lakhs has actually 'happened' ?

Was this a compulsory squaring off of your open (Nifty sell) positions ?

How did u make this payment ? Who demanded it ?

Maybe your answers will provide some ideas about how you can get this back

AGILENT

ganeshhity · #24 22nd June 2006, 11:47 AM

Quote:

Originally Posted by Agilent

Mohan
Can you elaborate how your loss of Rs 37 lakhs has actually 'happened' ?

Was this a compulsory squaring off of your open (Nifty sell) positions ?

How did u make this payment ? Who demanded it ?

Maybe your answers will provide some ideas about how you can get this back

AGILENT

really I feel too much sorry for him...I really know what is the pain of loosing so much money......If he is right, he should definitely get the compensation alongwith his money......

ganeshhity

Agilent · #25 22nd June 2006, 10:43 PM

Quote:

Originally Posted by Agilent

Mohan
Can you elaborate how your loss of Rs 37 lakhs has actually 'happened' ?

Was this a compulsory squaring off of your open (Nifty sell) positions ?

How did u make this payment ? Who demanded it ?

Maybe your answers will provide some ideas about how you can get this back

AGILENT

Mohan
Waiting for yr response.
I have been a fraud inspector (of sorts) in the last few years of my banking career and may be able to unravel your case, if you are interested

AGILENT

mojac · #26 23rd June 2006, 08:40 PM

Dear Agilent,
I have already described abt my case elaborately in my first letter under this heading(pls read).
49 lots of Tata steel 460 PA (very inactive)were sold in my account.Pls note that the spot
price of tisco was Rs350(Dec7,2005)But these PA were sold at an avg price Rs1.3868 instead of Rs110--120 premium.To my knowledge selling a PA invites a margin that is equal to that of futures.
2lots----Rs33.1
5lots---at 10paisa
2lots---at 55paisa
40lots--at 10paisa.

Total qty 33075(49 lots)
About 40--42 lots were send for expiry the same day itself by the other party.
At that time I had a margin of only Rs288424/- in my ac.
Nobody asked me to pay the balance,but margin got blocked and
still it is. 37lacs-3lacs= -34lacs.

mojac · #27 23rd June 2006, 09:03 PM

dear Satish,
My query to the broker is that how come 49lots PA sold in my account(with
margin under 3lakhs)Where was the surveillance dept?
Even after getting the IP of the logged in party ,why is the broker
not returning my ledger balance.The broker very well (through evidence)
that I am innocent in this.

Agilent · #28 23rd June 2006, 10:15 PM

Quote:

Originally Posted by mojac

Dear Agilent,
I have already described abt my case elaborately in my first letter under this heading(pls read).
49 lots of Tata steel 460 PA (very inactive)were sold in my account.Pls note that the spot
price of tisco was Rs350(Dec7,2005)But these PA were sold at an avg price Rs1.3868 instead of Rs110--120 premium.To my knowledge selling a PA invites a margin that is equal to that of futures.
2lots----Rs33.1
5lots---at 10paisa
2lots---at 55paisa
40lots--at 10paisa.

Total qty 33075(49 lots)
About 40--42 lots were send for expiry the same day itself by the other party.

At that time I had a margin of only Rs288424/- in my ac.
Nobody asked me to pay the balance,but margin got blocked and
still it is. 37lacs-3lacs= -34lacs.

Mojac
Have sent u my initial queries by PM (Personal Message )..

Meanwhile u had said in early April that NSE had asked the broker for clarification ... whats the progress here ?

AGILENT

mojac · #29 25th June 2006, 12:43 AM

agilent,
nse asked explanation from broker & the broker replied saying some third party has done this. They have the IP add & through investigation got the name & add of that person whose IP was logged in at the time of the disputed trades.But nse is not taking any action.

rajneesh_mailbox · #30 16th July 2006, 12:22 PM

well , i am suffering from same problem. any body , seniors, plz hlp us to deal matter accordingly.
rajneeh

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