Corporate Communications

Loksatta

Headline : Analysis: Who is Pankaj Sonu to lime investors? Why did NSE warn against it?

A person named Pankaj Sonu is misleading investors by promising huge returns, warns NSE.

The National Stock Exchange i.e. NSE has issued a cautionary warning regarding a person named Pankaj Sonu. The NSE said that this person is luring investors by taking money from them on the basis of various schemes.

The National Stock Exchange (NSE) has cautioned investors. A person named Pankaj Sonu runs an organization called 'Trading Master'. NSE has said that investors should stay away from both of these. Pankaj Sonu approaches gullible investors and lures them with guaranteed returns on stock market investments. Sonu also pretends that investors should share their trading account login details so that he can transact on behalf of the investors himself.

What is Pankaj Sonu and Trading Master?

Founded in 2021, Trading Master claimed that its company has developed technology that provides automated trading services and Trading Master is providing financial services through it. The company's website, based in Noida, Uttar Pradesh, also claimed that it had artificial intelligence (AI) programming technology and guaranteed returns through it.

Last year, the company launched Master Bot. It was said that this AI-enabled bot would help investors provide buy and sell signals in the stock market.

What is the modus operandi?

Sonu is misleading people to invest in securities market by telling them good returns. Such assurance cannot be given to people working in this field. So Pankaj Sonu is extorting money from the public by misleading. At the same time, Sonu is said to be offering investors to handle their trading accounts by asking them to share their login details and passwords.

What to do when contacted by bogus people like Sonu?

NSE has already alerted investors in this regard. NSE advises not to subscribe to such company or scheme if SONU or any entity offers guarantee of return on investment in stock market. It has also been said that investors should not share their demat or trading account details, login details with anyone.

Brokers like Pankaj Sonu or Trading Master are not officially registered with NSE, NSE said in its statement.

What happens if we trust a bogus person like Pankaj Sonu?

The NSE clarified that the entire risk of investing in such misleading and prohibited schemes lies with the investors. Money invested in such schemes and results are not recognized. If investors invest money in such schemes, they will not get further benefits.

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