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How to sniff and dodge financial scams and keep your wealth intact

Here are some tools that will help you detect a scam from a mile away and avoid touching one even with a 10-foot barge pole

Topics
financial scams | ponzi schemes | Ponzi scam

Sanjay Kumar Singh  |  New Delhi 



Ponzi schemes. Photo: iStock
Photo: iStock

Two cases are currently in the news in which it seems like a large number of investors may lose their hard-earned money. One is the case of Mumbai-based Anugrah Stock & Broker, which seems to have promised its clients an assured return. It used their money to trade in the futures and options (F&O) segment and sustained losses there. The other case is of a Kerala-based entity that collected money from depositors promising them very high rates of return. That scheme has collapsed. Both these schemes are currently under investigation.

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First Published: Fri, September 11 2020. 18:46 IST

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