trading done without consent


Kindly suggest for necessary action with regards to the below mentioned complaint;


Dear Team,

With reference to the scrutiny of my records w.r.t. the order placed, I raised the alarm for the fraudulent trading done in my account i.e. TRADING DONE WITHOUT CONSENT in my account by team fairwealth leading to loss of 2.00 lakhs (Approx; Can be more than that if including brokerage).


Account ID : DLNNT54
Name : Tarun Arora

Concerned Personnel: Mr. Avdesh; Mr. Achal; Mr. Shukla 


I had a meeting with the site personnel’s along with yourself and Mr. Achal on 3rdNov, 12: at FAIRWEALTH SECURITIES Nehru Place. The following points aroused from the meeting and need’s urgent reply and quick action.


The trade operator has agreed for the fraudulent trading into the mentioned account in presence of all the concerned personnel’s including the BRANCH HEAD, MANAGER-RMS, of FAIRWEALTH SECURITIES i.e. without consent of the account holder.


It is to be look forwarded how the trade happened in the account when there was no amount (Clearly Evident From Records) i.e. even than that of 30% of buyer amount was not available; as earlier I always used to receive a call from Mr. Achal for any debit amounts. Is this the fault of trade operator / Manager-RMS / Branch Head.




Who has provided the limit to trade operator for trading? And with whose consent the same was done?


Who all are to be held responsible for giving liberty of going ahead with the trade to the trading operator when client was not available?


When a periodic review of trade of client’s was done why such erroneous trading was not cited by the BRANCH?


Is this the same because of operator’s intention of earning commission on trading or any team is trying to mislead the higher management and hiding the real facts?


Can we put forth the trading sheet and the trading pattern along with the non-consented trading records to third party scrutiny for frauds at the branch?


It is ironical / stupendously stupid to view that all the trade that does happen was in debit throughout i.e. Sep-Mid and Oct, only INR 10000 was transferred in the account of Mr. Achal on 12th September, 12 for accounting into DLNNT54?


It is highly appreciated and hard to digest that an employee / trade operator of the company smartly deceived so many personnel’s at par and continuously did trading without any fear of any of the FAIRWEALTH SECURITIES personnel’s. For such a fraud only the operator could not be held responsible, Indeed I am very well sure that the same must be happening with many of your client’s !




Since trade operator is an employee of FAIRWEALTH SECURITIES; So you and your team has to take a call on urgent and necessitated basis for the loss incurred due to fraudulent trading that tended to happen without the consent.


You have consented to respond the mail query sent on Friday, November 02, 2012 10:46 AM in discussion with the management latest by 07th Nov, 12.


As stated by yourself the matter is personal between myself and the trading operator but kindly be noted that such statements from your side will be like digging pit for yourself. Any complaint that’s tends be lodged will be directly against the branch head as he was supposed to stop the trading even before the client has raised and alarm. If myself was supposed to deal with him directly then why the position of branch head is required. Kind attention; POSITION ALWAYS COMES WITH RESPONSIBILITY.


The trade operator has agreed for the loss in front of your team; however as a reputed and expanding securities company FAIRWEALTH SECURITIES cannot put the ball in his pocket. The same should be confirmed to me by any of your authorized personnel’s and as documented evidence. The trading loss must evaluated against the losses incurred from trading, the loss of equity that was intended for long term, brokerage and the sleepless nights of the client.   


As per discussion all the trades were mailed to be on the ID which was not linked tomyself and my mail ID was updated in your records as Dr.Tarunarora@gmail.com; effective 3rd Nov, 12 and in your presence only. This again sounds entertaining and fraudulent again as to which Email ID’s the team was dealing with ??  Since Mr. Achal was in touch with the ID’s since 2009 (Communication attached for your ready reference)


It is obligatory and inescapable to mention out here that my account is with the fairwealth securities and I am linked to a company not to any one particular employee. Any decision in the regards should come up by the company not by any employee and in promptly justifiable manner and all the culprits should be brought to justice.


Further will be thankful if your back office department can provide me the Emails of all the trading during that time period, Statements of Trading w.r.t the all the trading for evaluation and records.


Prompt and justifiable response will be highly appreciated. Indeed will be grateful if you can resolve out this fraud without any delay.





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