[Resolved]  Reliance Money Trading — Fraudulent share trading-LIC Ganesan

This is to inform about the fraudulent dealings of share broker LIC Ganesan and his wife Jayalakshmi Ganesan in Chennai,
I have known Mr.Ganesan who runs his office at
INCOM CONSULTANCY SERVICES
No.179,Radha Nagar Main Road
Chrompet, Chennai -600044.
Ph.Off. 22654307 / 22655421
I.T.&Investment Divn. : [protected], [protected]
Share Trading Divn.: [protected], [protected]
TIDEL PARK BRANCH: [protected]
E-mail: [protected]@hotmail.com, [protected]@mostindia.com

for the past 10 years. Recently 8 months ago he visited me and solicited to give business for his new venture in the stock broking. I informed him that i already have on-line trading account with ICICI Bank hence do not require his service.
At this point in time he promised me to do Portfolio management services and assured me a 20 per cent return per annum. Over and above this, he assured me capital protection for the money invested. On believing his words we (myself, my wife and my Mother-in-law) agreed to deposit a sum of Rs 3.5 lakhs in the account of me, my wife and my mother in law.
As the market was undergoing turbulent times, I called him to enquire about the safety of the money and he replied to me that every thing was safe. But to our shock, last week (28/01/2008) he called up and informed me that all our money was invested in the market and was lost during the recent market crash. I informed him that I had gone ahead and given him money for portfolio management only because he promised the capital guarantee and the trust we placed on him. He did not answer properly and cut the call. We decide to meet him at his office and rushed there. He made us wait outside like beggars and pretended that he was very busy and had no time. Then he told us very rudely that he cannot do anything and also added that our loss amount is very small compared to other clients. His arrogant behavior to us was totally unacceptable and his answer to our hard earned money was very casual and indifferent.

We are honest tax paying people who toil for earning money. We placed our trust on this man and gave money and he has deceived us. My mother in law is a widow and she gave him her pension savings money for this purpose which he has cheated without any conscience and has no regret also.

You should help us get back our money and also stop such fraudulent people from carrying on business and cheating other innocent people like us.