The National Stock Exchange (NSE) has issued a warning to investors about a fraudulent operation posing as Lazard Asset Management India. This scam is conducted through a WhatsApp group called 'JO HAMBRO.'
According to the NSE, this scam involves the group offering shares at discounted prices and claiming that these shares can be purchased even after market hours. The NSE's statement, released on Friday, highlighted a complaint about this WhatsApp group misleading retail investors.
The fraudulent entity pretended to be a registered stockbroker with the Securities and Exchange Board of India (SEBI). They used a fake SEBI registration certificate, which they distributed within the WhatsApp group. However, the NSE clarified that Lazard Asset Management India is not a registered stockbroker with SEBI, and the certificate is entirely bogus.
The NSE has cautioned investors to avoid any dealings with Lazard Asset Management India and urged them to verify the credentials of any financial entity before engaging in transactions. The warning emphasizes that investors should not interact with such fraudulent entities without proper verification.
Furthermore, the NSE has informed investors that they will not be able to seek recourse through the following avenues if they fall victim to such scams:
The NSE's alert serves as a crucial reminder for investors to be vigilant and cautious. The fraudulent activities by Lazard Asset Management India highlight the importance of verifying the legitimacy of financial entities before making any investment decisions. Protecting oneself from scams involves thorough research and skepticism towards offers that seem too good to be true.
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