Dear Sir/madam,



Sub: new kind of fraud in CENTRUM-share broking house





With due regards to you, I want to present a real story on a new kind of fraud going on in CENTRUM share broking house:



“I opened a demat account for purchasing shares in CENTRUM broking house branch at Noida. This demat account was having a linked transaction account in which I deposited approximately Rs 50,000 (Rupees fifty thousand) in 3-4 installments and later on procured some shares.



Later on since prices of these shares fell in tandem with the share market fall, I kept on holding the stocks. Recently when the share market regained the strength, I planned to sell some of the shares.



When I called the concerned person in the CENTRUM Broking house Noida, the mobile was switched off. I called on the landline contact number and came to know that the concerned person has left the job.



I asked them to sell one of the scripts and to my surprise, I was told that those shares do not exist. My account was empty and all the shares were gone.



I further enquired that how it is possible that those shares do not exist, I was told that the person who was dealing with my account, has carried out huge amount of transactions and almost all the shares have been sold during the transactions in last one year.”



This is a new kind of fraud in which the relationship managers are doing huge transactions in shareholders account apparently to achieve their targets of transactions set by their broking house and in the process shareholder’s money is slowly eaten away as brokerage charges.

I HAVE WRITTEN TO CENTRUM 5-6 TIMES BUT THEY HAVE NOT GIVEN ANY RESPONSE TILL DATE.