IMPHAL, April 25: After Visarev, Forex, Global Index daily, another scam Stock Guru India (SGI) has allegedly duped investors of the state of more than Rs 40 crores.
Stockguru India, claiming to be India’s premier financial consultancy firm, offers investment advisory services, portfolio management services, trading solutions in equity and derivatives, insurance, mutual funds and IPO. Yet this firm was not registered with SEBI or RBI. It has now left thousands of investors in the state in the lurch.
IFP investigating such fraudulent scams found out that SGI floated a scheme promising high returns for a minimum investment of Rs. 10,000 (plus registration fee of Rs. 1,000). For the first six months it offered returns of 20% per month. The principal amount would apparently be returned after six months. Post dated cheques for the repayment of the monthly interest plus a promissory note as security was given to investors on registration.
SGI’s promoter Lokeshwar Dev Jain, a resident of New Delhi is now absconding.
SGI entered the state in March 2010 and was promoted by one Gopal Thapa from Mantripukhri. It is also learnt that more than 10,000 persons has already invested in SGI.
The cracks started appearing from February 2011 onwards as the company failed to make payouts, Lokeshwor then gave an excuse that there has been an income tax raid at first and later said that the investors need to open bank accounts and should have a PAN registration.
The company kept stalling until this month as investors finally got wind that the CEO of SGI has absconded. Afterwards his state counterparts namely Gopal Thapa and others have absconded and investors are again left high and dry as seen in similar cases of Visarev,Forex,Unipay,Global Wing Index etc.
IFP found out that the collapse of such pyramid scams has affected thousands of families and relationships have gone sour. Dhananjoy, a disgruntled investor said “It’s acceptable that I lost my money but trusting the company, I promoted it to my friends and relatives and promised them that they will get their investments back. Now, I am being hounded by them for repayment of their loss. I can’t make it up even if I sell my property”, he said.
No complaint has been lodged against the offenders from the state at present. An official of the state home department in a telephonic conversation with IFP stated that the perpetrators of such scams can be booked under the ‘Money Laundering Act”.
It may be mentioned that investors of Forex achievements and Visarev has formed bodies recently to tackle the issues and to press the government for speedy justice.
Mr LD Jain is a well mannered person. He has done all his best to help so many people/investors. However, the cause of the failure was the management team. For running a company one should have gone to the pros & con. also, Mr Jain has some unwanted and untrusted friend circles. Nevertheless, we pray and hope that there is always a bright morning after dark light. It is life. We must have patience. I have also lost Rs. 5 lakhs in the Company but….. I am positive and hopeful and have faith in Mr Lokeshwer Dev Jain. I pray for the well being of Mr Jain and his family and request him to come once again and regain the faith of his investors. AAMMEEN ……
Always Keep Smiling. God is Great!!!!
DP JUYAL, DEHRADUN, INDIA
Stochguruindia ka CMD Lokeshwar Dev Jain CHOR hai ye cheater public ( Invertors) ka Rs. 1,000 crore lekar abhi bhaga hua hai aur chuhe ki tarah kahin per chhipa baitha hai apni biwi aur bachchon k saathy magar ye khel jyada dino tak nahi chalega,,,, BAKRAY KI MAA KAB TAK KHAIR MANAYEGI,,, KABHI ( BAHUT JALDI ) EID AYEGI,,, ha ha ha ha ha ha,,, GOD IS GREAT,,,,,,,,
A common sense is the need of the hour for the entire populace of our state. When you invest your money, you need to make sure that your principal is at least safeguarded and returned to you even at the possible worst scenario . Before investing your money, please be sure to find out the portfolio of the company and the product or instrument that you like to choose. Do some googling around and you will get hell lot of information. Secondly, make sure that the company or schemed is recognized by the regulatory bodies such as IRDA ( for insurance), SEBI ( Stock), RBI etc. If you do not know how to do these things, please be sure to reach out the experts or ask your friends, siblings, children who can find out these basic information just by spending some time googling around.
May be now you can lodge your complaints following this link http://stockguruindiascam.blogspot.com/