Short thread on an advisory scam.
SEBI just published an order that reads like fiction. Ripple Advisory (RIA) was apparently scamming people by providing stock and F&O tips. The crazy part is it had collected Rs 52 crore in fees 😲🤯
sebi.gov.in/enforcement/or… 1/6
SEBI just published an order that reads like fiction. Ripple Advisory (RIA) was apparently scamming people by providing stock and F&O tips. The crazy part is it had collected Rs 52 crore in fees 😲🤯
sebi.gov.in/enforcement/or… 1/6
It's just astounding how gullible people are. "Greed sells" as cliched as a saying this is, it's true. Just take a look at the transcript of a call recording. The client is basically saying here, take my money. 2/6 
In a particular case, a client paid Rs 27 lakhs in a span of just 3 months as subscription fee for various products. Rs 27 lakhs in 3 months, I mean, what the hell!!!!! 3/6
In another case, a client paid Rs 24 lakh in 3 months. I am genuinely unable to comprehend how people fall for this crap. 4/6
It's just funny, how easy it is to scam people. It's just not these scammy advisors, investors are equally at fault.
5/6
5/6
As of today, I have resigned from my job and I am starting an advisory service. If scamming people is so easy, why let go of the opportunity. 😁 6/6
