Overview
- Mumbai Police’s Economic Offences Wing registered a case naming Globe Capital Market and two employees after a senior citizen’s complaint.
- The complainant, 72-year-old Bharat Harakchand Shah, alleges unauthorised trades in his and his wife's accounts from 2020 to 2024 caused losses of about ₹35 crore.
- In July 2024 the broker’s risk team told Shah his accounts showed a ₹35 crore debit, after which he sold shares and paid the amount under threat of liquidation.
- EOW officials allege fabricated profit-loss statements and continuous circular F&O trades with the same counterparty, with NSE notices answered by the broker without the client’s knowledge.
- Investigators say summons will be issued next week as the probe proceeds, following an initial FIR at Vanrai police station and a SEBI complaint that was earlier disposed.