Mumbai: The BKC police have registered an FIR against ‘Close Friends Traders’, an unregistered trading platform, and two persons for allegedly cheating people.
The platform claimed to offer Demat accounts without documents and lured over 500 margins into trading with promises of high margins. The National Stock Exchange (NSE) discovered an advertisement for ‘Close Friends Traders’ in a Hindi newspaper on July 13, claiming it was India's largest platform for margin trading and offering “dabba trading.”
'Those Doing 'Dadagari' Are Financially Strong, Have Technology,' Says Union Minister Nitin GadkariThe NSE found no registration for the platform and issued a notice on July 15, stating it was an illegal trading platform. The inquiry revealed the two mobile numbers were registered in the names of Raju Mataprasad and Hariprakash, both from Delhi. The police registered the case under the Banning of Unregulated Deposit Schemes Act, 2019, and sections of the Bharatiya Nyaya Sanhita for cheating and common intention.
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