Investors are a gullible lot. In their quest for bigger returns, they fall easy prey to a host of financial intermediaries such as mutual fund distributors. Many wary investors have instead opted to deal with investment advisers—the ones who have registered with the Securities and Exchange Board of India (Sebi) and have to comply with several guidelines before they can offer advice for a fee. Yet, what if such advisers themselves were to commit fraud. That is exactly what Indore-based investment advisory Money Market Manthan Financial Services did, as per an investigation by the market regulator.
7 best practices to keep your money safe from fraudsters
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