Exposing Scamster howardroark !!!!!!

#1
Friends, please keep away from fraudulent so called experts here on Traderji or any other forums. Never ever give your money to anyone; no matter how convincingly expert anyone appears in front of you.

I have been duped very badly by one senior member of Traderji whose id here is howardroark. I lost nearly 400,000 Indian Rupees ($6200) which I invested with him in a Pooled Account. I had been watching his activities on forum -traderji (and FF) and got influenced by kind of analysis he used to share.

He initially started training me but eventually he lured me into investing in a pooled account. It was my foolishness to fall for his bookish knowledge and ended up giving my money to him. He promised at least 10% return per month. But for some reasons or other, he kept lingering paying my return and always pressurised for getting my equity bigger by not withdrawing; for more return after some months. But he remained in contact with me and kept training me some bookish stuff. I being a newbie and foolish person, still wanted to have faith in him. So much faith that I got my one friend invested with him.

After couple of months, when I started demanding some return, he asked me to come Bangalore and meet him. I flew down there and met him. And then he told me the golden scheme. He asked me to get personal loan of $10,000 and invest with him. He would turn this into $100,000 in 10 months. Challenge of 10-10-10. Wow !!!!!

He said he would publicly advertise this challenge on traderji, FF & other forums and he had already arranged other investors for this challenge and in talks with Hantec also.

That bluff opened my eyes & I decided to get back my money. After some days, When I demanded my money back, he disappeared. Contact number not reachable and no Reply of emails. I tried to contact on his other numbers but he simply changed all his contacts later.

It all happened throughout year 2017. Now, I have already complained to the police and hopefully will get him arrested.

He came online last on Traderji on Jul 6,2017. I am sure he is here with another id and getting ready to lure next fish.

--------------------------------------------------------------------------------

This forex world is full of scammers who sit online all day on youtube, forums and blogs preying on foolish newbie fishes like me. These fraud people will go to any length to extract money from you. They are immoral people and ruthless enough to get your house sold for their benefit.

My purpose of this post is to share my experience and warn everyone not to fall for such so called experts. There is no shortcut to wealth... Even in Forex. Anyone who boasts of such high return; will dupe you.

I hope my post remain alive here on traderji. It is for awareness of other people.

Mr. howardroark aka Aditya Kashyap aka Madhav S Shashtry, your karma would come back to you one day in unexpectedly worst form. You and your family would live a cursed life ahead.
 

travi

Well-Known Member
#2
Very sad to hear this, you took the right step and informed the police.
I don't know about the legalities and if he's lost money to the markets or just duped many.
Hope that he and such others are punished by law and karma.
 
#3
Anyone who believed that 10 % pm return should ask himself why is this guy wasting his time in talking to the clients and begging for money to manage ....he himself would have Rs 1000 crores of his own capital.

Sad thing happened to you but it gives a lesson that one should never believe such high returns...they are traps to lure the investors .

Smart_trade
 

headstrong007

----- Full-Time ----- Day-Trader
#4
We must remember If anyone is getting money from trading, then it is very easy to get a business loan from that bank where he/she has the primary account used for trading. Banks gives loan @ very nominal rate 15-18% per yr with very little addon 2-3% processing charge.
So, why anyone should pay even 2% per month to the unknown person when can get the easy loan from [email protected] lower rates?

We must remember no successful trader need money from outsiders, even not from relatives. Simply bcoz what relatives expect from us is always much higher than loan interest to the banks. :D
Banks easily track a successful trader's primary account, they are already behind them to give some loan on their own. I have that experience from my own bank.

So, never think that, that a really successful trader will trade for others. It's not possible logically as he/she has already better options in hand from own BANK. :) KEET IT SIMPLE.
 

jagankris

Well-Known Member
#5
We must remember If anyone is getting money from trading, then it is very easy to get a business loan from that bank where he/she has the primary account used for trading. Banks gives loan @ very nominal rate 15-18% per yr with very little addon 2-3% processing charge.
So, why anyone should pay even 2% per month to the unknown when can get an easy loan from Banks?

We must remember no successful trader need money from outsiders, even not from relatives. Simply bcoz what relatives expect from us is always much higher than loan interest to the banks. :D
Banks easily track a successful trader's primary account, they are already behind them to give some loan on their own. I have that experience from my own bank.

So, never think that, that a really successful trader will trade for others. It's not possible logically as he/she has already better options in hand from own BANK. :) KEET IT SIMPLE.
Interesting i thought banks dont give loan for share trading.
 
#6
Interesting i thought banks dont give loan for share trading.
Banks give personal loans and don’t ask the end use of the loan if our account is a green account without a single default .They even give you presanctioned loan of 15-30L.....banker should have confidence in the account after seeing few years operations....these days such calls are very common from even top private sector bank.

ST
 

headstrong007

----- Full-Time ----- Day-Trader
#8
Interesting i thought banks don't give loan for share trading.
When we deposit regular profits to the primary account attached to the bank and we usually pay income tax from the same account for the convenience of keeping records. Bank backtrack such records to identify a good customer. And they know traders need capital for trading so successful traders are best choices to them.
Don't know about PSU Banks. But HDFC & ICICI Banks offer such loan on their own.
But, first, they see taxable income and regular profit is coming from the trading account. They offer loan only when they understand that the risk of default is very less from that customer and the customer may need a loan to expand the business. :)
 
Last edited:
#9
I also thought the same. Even I talked with bank officials regarding the same but they denied saying that they can't give any kind of loan to stock market traders without collateral.
When we deposit regular profits to the primary account attached to the bank and we usually pay income tax from the same account for the convenience of keeping records. Bank backtrack such records to identify a good customer. And they know traders need capital for trading so successful traders are best choices to them.
Don't know about PSU Banks. But HDFC & ICICI Banks offer such loan on their own.
But, first, they see taxable income and regular profit is coming from the trading account. They offer loan only when they understand that the risk of default is very less from that customer and the customer may need a loan to expand the business. :)
Good question and good answer.

Thanks for the info, guys.
 

RockyRobust

Well-Known Member
#10
Friends, please keep away from fraudulent so called experts here on Traderji or any other forums. Never ever give your money to anyone; no matter how convincingly expert anyone appears in front of you.

I have been duped very badly by one senior member of Traderji whose id here is howardroark. I lost nearly 400,000 Indian Rupees ($6200) which I invested with him in a Pooled Account. I had been watching his activities on forum -traderji (and FF) and got influenced by kind of analysis he used to share.

He initially started training me but eventually he lured me into investing in a pooled account. It was my foolishness to fall for his bookish knowledge and ended up giving my money to him. He promised at least 10% return per month. But for some reasons or other, he kept lingering paying my return and always pressurised for getting my equity bigger by not withdrawing; for more return after some months. But he remained in contact with me and kept training me some bookish stuff. I being a newbie and foolish person, still wanted to have faith in him. So much faith that I got my one friend invested with him.

After couple of months, when I started demanding some return, he asked me to come Bangalore and meet him. I flew down there and met him. And then he told me the golden scheme. He asked me to get personal loan of $10,000 and invest with him. He would turn this into $100,000 in 10 months. Challenge of 10-10-10. Wow !!!!!

He said he would publicly advertise this challenge on traderji, FF & other forums and he had already arranged other investors for this challenge and in talks with Hantec also.

That bluff opened my eyes & I decided to get back my money. After some days, When I demanded my money back, he disappeared. Contact number not reachable and no Reply of emails. I tried to contact on his other numbers but he simply changed all his contacts later.

It all happened throughout year 2017. Now, I have already complained to the police and hopefully will get him arrested.

He came online last on Traderji on Jul 6,2017. I am sure he is here with another id and getting ready to lure next fish.

--------------------------------------------------------------------------------

This forex world is full of scammers who sit online all day on youtube, forums and blogs preying on foolish newbie fishes like me. These fraud people will go to any length to extract money from you. They are immoral people and ruthless enough to get your house sold for their benefit.

My purpose of this post is to share my experience and warn everyone not to fall for such so called experts. There is no shortcut to wealth... Even in Forex. Anyone who boasts of such high return; will dupe you.

I hope my post remain alive here on traderji. It is for awareness of other people.

Mr. howardroark aka Aditya Kashyap aka Madhav S Shashtry, your karma would come back to you one day in unexpectedly worst form. You and your family would live a cursed life ahead.
Sorry to hear about your loss. This is indeed an unfortunate incident. I really appreciate your courage to post about your experience & the fraud which happened with you. Many people do not wish to come out in open about themselves being duped. Your information sharing will surely help many here who come as silent readers to get a warning about people trying to play fraud.
 

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