Category Archives: HSBC

SEBI issues show cause notice to HSBC for cheating Suchitra Krishnamoorthi

Market regulator Securities and Exchange Board of India (SEBI) has issued a show cause notice to HSBC for allegedly using fraudulent and unfair trade practices with its client, singer and actor Suchitra Krishnamoorthi. This case was first exposed by Moneylife way back in April in 2012

Continue reading SEBI issues show cause notice to HSBC for cheating Suchitra Krishnamoorthi

Uff!

Ha look what i received today. Isnt it a bit late in the day for HSBC to be sending out this disclaimer after they are done with committing all their fraud & losing all my money.

Why were they not sending these messages out 5 years ago instead of asking their officers to coerce us into signing blank documents ‘supposedly ‘in our best interest – “You may be out of town when this fund opens Madam & will lose out on a great opportunity. Uff – frauds

Dear Customer, we advise you not to sign or hand-over any blank or incomplete document/s to any HSBC staff. You could be putting yourself at risk by signing blank or incomplete documents such as account opening forms, Letter of Instructions for Mutual Fund purchase / switch / redemptions, Standing Instructions, Fund Transfers, Service requests, etc. Keep your personal information secure and protect your interests.

Did HSBC Bank resort to toxic churning and illegitimate transactions to earn commissions?

Two complaints of high net worth individuals have shown that the bank has possibly flouted rules and taken signatures on blank forms to execute transactions to churn the mutual fund portfolio and earn huge commissions

Over a year back we wrote about how HSBC Bank took Ms Suchitra Krishnamoorthi, a well-known singer and actor, for a ride over a five-year period by promising an extravagant assured return of 24% from mutual funds as well as insurance. (Read: HSBC loots Suchitra Krishnamoorthi after big promises of 24% returns)

Continue reading Did HSBC Bank resort to toxic churning and illegitimate transactions to earn commissions?

SEBI investigates HSBC

After running from pillar to post on my litigation against HSBC for the past one year I am relieved that SEBI- Security Exchange Board of India- has now taken cognizance of the gravity of the fraud and malpractice committed by HSBC in the management of my monies and initiated official investigation against them on 15th March 2013