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Thread: Fraud by a stock & commodities company (BMAWC) New Delhi

  1. #1
    Join Date
    Sep 2010

    Default Fraud by a stock & commodities company (BMAWC) New Delhi

    Dear Sir,
    My name is Satish Kumar. I had opened commodities account with BMAWC at Delhi Branch on dated 09/08/2010 through one of my friend. His Name is Vinay Kumar Chanchal. I told him that I can invest money around 15000-30000 RS. I had no more idea about the stock & commodities market. He approached me that I will handle it personally, don’t worry.
    My account number is: 20000458

    Vinay did 300+ transactions without informing me & when i asked to his manager he said i cant do any thing..whatever u can do go ahead & do. Telling you step by step what exactly happened:

    I had given him cheque of RS 5000 on dated 07/08/2010 & he said that you will get welcome letter on your home address & your account details by message on your phone & also you will get the summary of your account on your email address within 2 or 3 days, when I was submitting the form.
    He called me on dated 12th Aug asking for transfer money of 10000 RS. He was aware about that I have 10000 RS. I asked him, has my account opened, he said yes & he also said I have invested already some amount & that is getting little bit down. I asked him about my account number he said you will get your account details by tomorrow at your home address. As he was my friend I dint more inquire about that. In between (7th – 12th) i spoke to him but not about the account opening.
    Next day I dint get any letter from BMA & not even any email. I was getting some message but I was not understand about that. I called him but he was not picked up my phone & even not respond. After that I regularly tried to contact him but he just ignored me. I thought, might he went to home as he discussed with me earlier that his wife is pregnant.
    On 24th I searched the company name on google & got the number from there I called to company’s number & spoke to Nagender Kumar, I told him about what happened with me he said to Vinay to call me back then Vinay called & told me “Yar mere sath kuch problem ths islie mai phone respond nhi kar paya..sorry yar” I said ok. I asked him that I dint received any welcome letter & email from BMA he said let me check. He given me the account number & advice me to how to login into back office. I logged in to back office. I asked him to how can I check my trading details & my account balance. He advised me to check Ledger. I asked how much balance in my account he said 16500 RS. As there is three in ledger “Debit, Credit & Balance” in credit that time there was reflecting 16500 RS. Again I believed on him.
    Next day I again called to the company’s number & spoke to Nagender, I asked him about my account balance & he said 3358 RS..i was shocked. I called to Vinay & ask him you are saying 16500 RS lying in my account & I just spoke to your manager, he is saying only 3358 RS is remaining in my account & you are not holding anything he said I am in way will call you once I reached to office & cut of my phone.
    He called me & said, yes due to china market down your trade got down. I said but you dint inform me about any transaction you did. You did 250+ transaction yar & you dint think I should to inform once at a time how you can do this. He dint reply anything that time.

    Next day he saying “you have authorized me to do trading that’s why I did” I said ok I authorized you but you need to inform me at least one time.
    After long discussion he said I will give you 15000RS by 10 Sep. I said ok. I dint call him in between. On dated 8th Sep I called him & asked about how you will transfer my money to my account you know what he said. I will not do anything & I will not return you money..whatever you can do..you can. Then I spoke to Mr. Abhishek Verma (AVP of Delhi Branch) he asked me to meet him next day.
    In between all transactions he did, he called me only one time that is on 12th of Aug for getting 10000 RS only after that he never called.
    Last Saturday I met with him..i was shocked…you know what he said I am telling you line by line
    1)As a personal prospective “Mai janta hun ki isne satta mara hai tumhe jo karna hai iske sath karo but company ko involve nhi karo”
    2)As a company prospective “You are already aware of the all trading” I said I have recorded all that telephonic conversation happened with him..listen this recording & tell if I am aware about any 1 transaction he said NO you are. And he said you can go to consumer court or Police where ever you want. I can’t do anything.

    I said what action you will take against this fraud by this employee. He said nothing.

    Can you please tell first what action you will take & how I should proceed further with this issue.

    I have the recording of conversation happened with me & Vinay Kumar Chachal as a proof.
    I want to discuss also for same issue.
    You suggestion will be highly appreciated.

    Thank You
    Satish kumar
    Ph: 9873714982

  2. #2
    Ranjit kumar sur Guest

    Angry Beware of BMA Wealth Creator

    Beware of BMA Wealth Creator Pvt Ltd.

    I have an account at Nirmal Bang for 0.01% in non delvery trade and 0.1% A few days back an agent of BMAWC called me and proposed me a for a brokerage 0.05 in delivery and 0.005 for intraday or non delivery based trading against Rs.10000/- advance brokerage. She took advance brokerage chq of Rs.10000/- and signed a Terms & conditions addendum where the rate of brokerage was clearly written, Account opened in BMA Wealth Creator on 24th Nov2010 in KOLKATA, but Rs.10000/- not credited in ledger, also brokerage charging 0.2% and 0.02% also not reversing the taken brokerage regularly, While asking the representative (Rani Tiwari mobile 9883228516) who offer this scheme be came uncontactable mobile remain always switched off.

    On top of it The BMA wealth creator charging STT on GOLDBEES, GOLDSHARE and other Gold ETFs, I mailed my other broker contract notes (to BMA customercare) on trade of Gold ETFs. And the NSE Brochure but they are doing nothing.

  3. #3
    arunkumar112 Guest

    Thumbs down I lost my every thing...

    I have opened account with BMAWC , From day one i did not got any profit, also they cheat me. I did intraday trading according to rule i think if i buy or sale during last time if i did not validate buy or sale then system automatically buy or sale what ever required but in Same rate what reflect in the same time.
    But it is not happening , I see rate is diffrent wht admin apply, due to that i lost my 35 Thousand money..
    Without your permission they will trad with your money.... if your money lost then it your problem.. as ...BMAWC...

    Also your RM never support you.. It's real fact..
    If you call them they will not attend..
    I never suggest to any one to do trade with BMAWC...


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