How SEBI exposed this Account Handling Fraud worth ₹1.4 Crore by Telegram | Fraud Free Program

In this video, we uncover a significant financial scam involving M/s G N Traders, led by Mr. Kashif Siddique, operating in the portfolio management services (PMS) sector. Initially reported by an investor who suffered a ₹20,000 loss and paid an additional ₹20,000 in fees, this case prompted SEBI to launch a thorough investigation.
SEBI's probe uncovered startling findings: Mr. Kashif Siddique maintained four bank accounts with a total balance of ₹1.4 crore, linked to various demat accounts handling investor funds.
As evidence mounted, including WhatsApp screenshots from affected investors, SEBI focused on banking transactions to expose the full extent of the deception.
Despite SEBI issuing a Show Cause Notice (SCN) on April 30, 2024, which was published in newspapers on June 15, 2024, Mr. Kashif Siddique did not respond or attend the scheduled personal hearing on June 25, 2024.
Based on legal precedents, SEBI proceeded ex-parte, presuming the charges against Mr. Kashif Siddique were admitted.
Learn how regulatory actions by SEBI aim to protect investors and uphold financial integrity. Stay informed about consumer safeguards and the evolving landscape of investment scams.
Subscribe to our channel for updates on this unfolding case and more insights into financial market regulations.
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