74 year old retired government employee Pradip Bhuta finds sub-broker has sold his shares worth Rs 11 crores without his permission
According to a media report,a 74 year old retired government employee Pradip Bhuta found that a person he trusted , his sub broker 48 year old Arvind Gala has sold his shares in 62 companies worth Rs 11 crore without his permission and pocketed the money
Bhuta had invested all his money in shares,and was using the dividend income for paying his daily expenses.
He realized that there was a problem when he received dividends for only 11 shares instead of the 161 shares he had in the company.
When he contacted the stock broker, he found that all his shares were sold without his permission
It appears that while doing the KYC Pradip Bhuta had blindly trusted his sub broker Arvind Gala and allowed him to fill the form. Taking advantage of the trust, Arvind Gala had used his phone number, bank details, so that bhuta would not receive any notification for the KYC and sold the shares without informing Pradip Bhuta
The stock broker blamed Bhuta, for the sale, saying that he should not have trusted Gala.
Though a police complaint was filed, and Gala was arrested, the police have not been able to retrieve any of Bhuta’s money. Some of the stringent sections of the case have also been removed, and Bhuta who is single is struggling to get justice.
The case of Pradip Bhuta again highlights how older single people are being ruthlessly cheated, exploited and robbed in india, making it very difficult to trust anyone. This also highlights the great fraud of government agencies, tech and internet companies in falsely associating young people with the domain investor to cheat, exploit her, run a government slavery racket, when she does not trust anyone, especially panaji goan bhandari scammer sunaina chodan, hotpant wearing short trisha