Geojit Financial Services Ltd has alerted the public to several instances of fraudulent activities involving the misuse of its name, Geojit / Geojit Financial Services Ltd. (GFSL), and logo by unscrupulous individuals.
The company said in a statement that these fraudsters are deceiving people with false promises of lucrative returns and bogus investment schemes in the stock market and mutual funds, as well as fake IPOs. Due to such scams, many innocent investors have reportedly lost huge amounts.
Geojit has already filed complaints with the relevant authorities and is working closely with them to address the issue. “We believe that public awareness is a crucial element in combating these fraudulent activities. We urge everyone to stay informed and vigilant to protect themselves from financial scams,” the company said.
A Balakrishnan, Executive Director, Geojit Financial Services, said, “With the rise of financial and investment fraudulent schemes, we urge everyone to remain vigilant. As advocates for financial integrity, we are steadfast in our commitment to transparency and protecting the financial well-being of investors.”
“As a SEBI-registered entity, all the products and services Geojit offer are within the regulatory framework. We will continue to take all necessary measures to prevent frauds and to provide a secure investment environment,” he said.