RelianceMoney — Unauthorised Selling of Shares

ON THE ONSET A WARNING TO ALL RELIANCEMONEY CLIENTS

IF YOU HAVE SIGNED A TRIPARTITE AGREEMENT AND MANDATE THE RELIACEMONEY PEOPLE CAN ACCESS YOUR ACCOUNT WITHOUT YOUR CONSENT OR KNOWLEDGE

I AM A VICTIM OF A FRAUD WHEN MY SHARES WERE SOLD WITHOUT MY CONSENT OR KNOWLEDGE FROM MY DEMAT ACCOUNT ON 16 FEB 2009

THE PAYOUT CAME ON 17 FEB 2009

THE MONEY WAS TRANSFERRED TO ANOTHER INDIAINFOLINE FAKE ACCOUNT BY DOING F&O CROSS TRADE WITH THAT ACCOUNT

WE LEARNT OF THIS ON 19 FEB 2009 WHEN I GOT A PHONE FROM RELIANCEMONEY MUMBAI TELLING ME TO MAKE UP THE LOSSES. MIND WELL THE CALL WAS TO TELL ME TO MAKE UP THE LOSSES. THIS HAS HAPPENED WHEN MY ACCOUNT HAS BEEN DORMANT FOR ABOUT 6/8 MONTHS

THERE ARE FOUR MORE SIMILAR CASES BESIDES ME AND WE ARE IN A GROUP

WE HAVE BEEN RUNNING ABOUT IN CIRCLES AND RELIANCEMONEY IS NOT TAKING ANY RESPONSIBILITY
THAY ARE PASSING IT ON TO THE SUBBROKER

PLEASE BEWARE THAT THERE IS A MASTER TOKEN WITH SUBBROKER WHICH WILL OVERRIDE THE SECURITY TOKEN OF THE CLIENT.
ANY INDISCRIMINATE USE OF THIS WILL CREATE HAVOC TO YOUR ACCOUNT

ONE POSSIBLE SOLUTION IS TO CANCEL THE MANDATE AND TRIPARTITE AGREEMENT AND GO FOR A BIPARTITE AGREEMENT

THUS THE SUB BROKER WILL BE REMOVED FROM THE CHAIN AND YOU WILL DEAL DIRECTLY WITH RELIANCEMONEY. THIS WILL ALSO REDUCE THE BROKERAGE LOAD SLIGHTLY. ONLY THING IS THAT YOU WILL BE ABLE TO OPERATE DIRECTLY ON THE INTERNET OR THROU THEIR
KIOSK. BUT AT LEAST THERE WILL BE SOME SECURITY. THERE IS STILL NO GURANTEE THAT RELIANCEMONEY WILL NOT MEDDLE WITH YOUR ACCOUNT EVEN THEN