Rahul 16 July 2017

Stock Market Loss

1)A client gave me his USER ID/PASSWORD & asked me to trade on his account. 2)The first week was good,made good profits. 3)After that one big loss blow the account away to 45k loss 4)I've stopped trading for him since then 5)He now wants money back.I've told him that losses are part of the game,but still he's not understanding it. 6)He's a normal man like everyone,i mean educated but still threatening me of going to SEBI/COURTS to make sure I'll suffer & maybe not do trading forever. 7)I've changed my mobile phone,so no chats are available on WhatsApp,even if he shows up somethings,everything is done like what I've mentioned in the opening statement. 8)Just for the losses he's threatening me of courts. Tell me lawyers,any steps to take to be safe ? Also i am broke now,since I've lost everything in stock markets. I've so far blocked me up every where & told him not to message me.

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4 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 17 July 2017

You would have contract in writing with that client for unfartunate losses.

“He who blames others has a long way to go on his journey. He who blames himself is halfway there. He who blames no one has arrived.”

— Chinese proverb

Kumar Doab (FIN) 17 July 2017

Have you breached the trust, agreement!

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 20 July 2017

It appears that you have used the online trading account of your client. Is that so? Are you a broker? If you have traded using another person's account that is a punishable offence. If a broker trades on behalf of a client and the trading results in loss, the client will have to pay to the broker to make good the loss and not the other way about. You have not clearly stated the case.