inshorts
Brokerage firm cheats 72-yr-old businessman of ₹35 cr, he realises after 4 yrs in Mumbai
A 72-year-old businessman named BH Shah filed an FIR, claiming broker Globe Capital cheated him of ₹35 crore, which he realised after four years. Shah transferred his shares to Globe Capital, following which two "personal guides" executed numerous "circular trades" without his knowledge. He'd not realised the fraud as he consistently received annual statements which showed "profits".
tap for more at NDTV / today
Shah had to sell his shares to repay fraud debt
Broker had used his shares as collateral
Share