The National Stock Exchange (NSE) on Thursday warned investors not to fall prey to investment schemes with assured returns offered by Sameer Gulabrao Thite associated with “wealth management company” Samsan Unitrade.
The exchange pointed out that the person and the entity are not registered either as a member or authorised person of any registered member of the NSE.
The cautionary statement comes after the NSE noticed that Sameer Gulabrao Thite associated with Samsan Unitrade was offering the service to handle trading accounts of investors by asking them to share their user identification (user ID) and password.
“It has been brought to the notice of the Exchange that person named “SAMEER GULABRAO THITE”” associated with entity named as “SAMSAN UNITRADE”, operating through twitter and Instagram account named as “samsanunitrade”, website as www.samsanunitrade.com
and Mobile numbers “7208999481/7208999482/ 7208999483/7208999484” is offering to handle trading account of investor by asking investors to share their user id and password and is guaranteeing returns on investment” the NSE press release says.
''Investors are cautioned and advised not to subscribe to any such scheme/product offered by any entities/persons offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law,'' the exchange said in a statement.
Further, investors have been asked not to share their trading credentials such as user ID and password with anyone.
A cursory search on Google for Sameer Thite throws up multiple pictures of him hobnobbing with politicians, actors, models and ‘celebrities’. He has even shared a photo of himself while receiving an award from Amruta Fadnavis, a banker and wife of deputy chief minister of Maharashtra State in the presence of State Governor Bhagat Singh Koshayari and claimed that he received it “in recognition for his exemplary contribution made to the State of Maharashtra”.
There are many such pictures which have been shared on his Facebook account as well. Another picture shows him receiving Mid-day International Award in Dubai for “Iconic in Investment & Trading”. In August 2022, he was felicitated with “Trendsetters 2022” award for “guiding people in relation to trading and investments” at an event by Maharashtra Times and Times Interact and supported by Times Applaud.
We have often observed that many people even highly educated, smart ones often fall for such parlour tricks and end up sharing their user id and password with crooks. They reach out to Moneylife after losing their hard-earned money and after they realise their folly .
Earlier, the Exchange had issued similar advisories after information surfaced that entities, including Suraj Mourya, Aimers Trader, Shares Bazaar, Real Trader and Groww Stock, operating through social media platforms were offering investment plans with guaranteed returns.