Unicon — Broker Invested my money in Stock Loss without giving any information
I opened a Trading account with UNICON with Rs 30, 000 when Sharemarket was
on its high. I purchased some shares of Parsvnath and RPL.
When Market was crashed, this value come down to Rs 6000 to 7000. Few
months back, I requested my Relationship Manager to advise how to recover my principle amount from this point. He suggested me that he
would purchase some shares on behalf of me and I only need to give the
confirmation to Unicon. I agreed and started giving confirmation for all
the transactions made by My relationship Manager.
Upto this point, I have no problem.
After few days, these confirmation calls were stopped. I thought that I
have recovered from my big loss.
Then, I tried to contact my relationship manager, but he never picked up my
Then I called to Unicon office to confirm, he told me that there is Zero
share balance showing in my trading account.
I was shocked and continuously tried to contact to my RM, But always got the same answer that He is out of office.
Fortunately, One day he picked my phone unknowingly and he had to explain
me that he invested my money in Stock Loss kind of thing and lost my money.
I still don't know what is Stock Loss, but I am sure this is a kind of
betting or gambling.
I only allowed him to purchase shares on behalf of me, and never allowed
him to gamble with my money.
Now, the current situation is I have lost my 29000 out of 30000.
I just want to trasfer my shares to my account before the game of Stock
Loss was palyed by your Relationship Manager