| Address: | Bangalore, Karnataka |
The VPS advisory through its website www.vpsadvisory.com is offering a plan for retail investor that if somebody is having a demat account and Rs. 50000/- in it than VPS advisory will trade in this and guarantee 20% return on monthly basis. The subscription fee for 3 months is Rs. 10000/-.
I have subscribed retail investor scheme by paying Rs. 10000/- on 03.04.2012 and the Mr. ANand Jain assured me that after 5-6 days the trading will start... after 15-20 days there is no activity found in my trading account. Then I have tried to making call to Mr. Anand Jain, but no response received from him. I tried many times through phone and email but there was no response... One day he picked up phone and told me that he is in hospital and call me back but no call made by him.
Again I have sent mail to [protected]@vpsadvisory.com for making request to start service and I received a mail that VPS advisory will start service within a week.
Between the period from 03.04.2012 to 05.06.2012...I have tried so many times to the VPS advisory for starting services but finally I realized that I have lost my money.....
I have requested them to refund my money but they clearly denied to refund so.
In the month of July I have again started follow up of Mr. Anand Jain and he promised me that he will trade in my account. On 14.8.2012 they did an trade in my account in which I have earned Rs. 1595/- BUT... after this again no activity found in my account. I have sent so many mails/calls, in the beginning (in the month of Sep.12) they told me that they are doing trading in those account which are having Rs. 1 lack balance. I have only Rs. 50 thousand in my account, hence I can not do anything except waiting and follow up of such type of fraud people.
However, I have borrowed money from my relative and deposited in my account and again starting followup for some action….
But this time new excuse given by vps advisory that error is showing while trading in particularly my account (Actually there is no problem.. I have already checked the same with my broker). Finally I have written an email in red to refund my money and received a call from Mr Anand Jain reflecting his anger.
I told that if he is not agree to do trading then refund my money but he refused my requested stating that no refund will be given if I want to stop trade then I can . However, I told to Mr. Anand Jain that I have did my best possible to enable them for making trade in my account by depositing Rs. 1 lakh then why I will want to not trade the faulting is on the VPS side.
After this conversation, to get the revenge from me Mr Anand Jain (Bloody ) has did a wrong trade in my Account by buying DLF at 219.35 on 16.10.2012 (the day on which DLF falls by 10%) . VPS advisory which claims that they are very efficiently managing their client’s portfolio has not squared of my position till the day end. Same day I have reminded him that I don’t have margin money to deposit and position may be squared off by next day. Next day the DLF opened at 209 and made high of Rs. 210 but VPS advisory has not loged in my account. I have also sent a mail next day for squaring off the position and received reply that vps team will done it on same day.
Finally on 18.10.2012 the position has been squared off due to insufficient margin at 205 AND I HAVE SUFFERED LOSS AROUND RS. 29000/- . I have also lost my subscription fees of Rs. 10000/-
IN THIS WAY VPS ADVISORY TAKEN REVENGE FROM ME.
I have checked the site of vpsadvisory.com and shocked by seeing that VPS advisory has made profit in some one else account by shorting DLF on 16.10.2012, may be this account of his own.
Now, Mr. Anand Jain is not taking my phone.
So this is my factual position I have shared with all of you people to beware of such type of people to save your hard earned money.
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ravi