Stockal Scam: Nearly 30 Investors Lose Over Rs 100 Crore In Unauthorised US Stock Trades

Affected investors allege their accounts were accessed without permission, resulting in mass sale of their holdings in US firms and subsequent purchase of shares in China’s ZBAO. Nearly 30 retail investors have allegedly suffered losses exceeding Rs 100 crore in a suspected trading fraud involving Bengaluru-based fintech platform Stockal Securities, after their US stock portfolios were liquidated without their authorisation and the proceeds used to purchase shares of a thinly traded Chinese company. According to a report by Moneycontrol, the affected investors alleged that their Stockal accounts were accessed without permission on October 15, resulting in the mass sale of…