BSE Alerts Investors Against Fake Advisory Operations, EZInvest Found Circulating Illegal Stock Tips & Collecting Money

Mumbai: The Bombay Stock Exchange (BSE) issued a strong warning to investors after discovering that an unregistered entity called EZInvest has been circulating stock market tips and collecting money from people for trading activities. According to BSE, EZInvest is involved in offering investment recommendations and soliciting funds without approval from SEBI or the exchange.

BSE clearly stated that EZInvest is not a registered member and does not hold any authorisation to give advice or manage investor funds. Investors have been advised to check the authenticity of any adviser or platform through official BSE and SEBI verification websites before acting on their suggestions.

Exchange Advises Caution Against Fake Promises

BSE urged the public to stay away from any individual or company that promises guaranteed or fixed returns from stock market investments, as such schemes are illegal. The exchange reminded investors that only SEBI-registered intermediaries can offer trading or investment services.

The warning aims to protect investors from falling for fraudulent schemes that misuse stock market excitement to lure people into risky or fake plans.

Rising Cases of Fraudulent Social Media Accounts

This caution comes after another recent incident where miscreants used photos of senior BSE officials to create fake social media identities. These fake accounts posed as wealth advisors and misled users with false stock recommendations.

BSE clarified that its officials are strictly not allowed to provide any advisory or wealth management services. Investors have been urged to ignore such accounts and verify all communication sources before making investment decisions.