SMC Global Takes Legal Action Against Fraudulent Impersonation of its Brand Name and Officials
SMC Global Securities Ltd, a leading financial services company, has initiated stringent legal proceedings against unidentified individuals and groups for unlawfully misusing the company’s brand name and impersonating senior officials to mislead investors.
The company has identified multiple fraudulent groups operating across various social media platforms, particularly WhatsApp, Facebook, and Telegram, that are falsely claiming affiliation with SMC Global. These groups have been found engaging in illegal activities by making baseless promises of high returns, offering fake block deals, and misleading investors with unauthorized investment advice without any regulatory approvals.
Ajay Garg, Director & CEO of SMC Global Securities Ltd., said, “Our legal team has identified and filed more than xx FIRs against them across xx police stations across the country. We are committed to protecting investors' interests at large and will cooperate with regulatory and law enforcement agencies to ensure these culprits are brought to notice.”
The company reiterated warnings from NSE, BSE, MCX, and other regulators cautioning investors against fraudulent schemes on unverified platforms. These scams often involve false claims of association with reputable entities, unauthorized trading apps mimicking official ones, promises of guaranteed high returns, solicitation of login credentials, fake pre-IPO subscriptions, illegal trading services, and lures through online courses or social media.
“We neither operate nor endorse any unofficial social media groups and do not request funds or personal information through unauthorized channels. Investors are strongly advised to remain vigilant, verify the authenticity of all communications, and ensure that all transactions are conducted solely through SMC Global’s official website, platforms, and authorized persons. Furthermore, investors should exercise caution and diligently verify the registration status of any entity, including the legitimacy of trading apps, websites, and designated bank accounts named as client accounts,” Garg said.
Above views are of the author and not of the website kindly read disclaimer
