Review of Dheeraj Mishra and Angel One Limited
Dheeraj Mishra, operating under the sub-broker DHJH, has engaged in fraudulent and manipulative practices, exploiting new traders like me. He was introduced as my Relationship Manager (RM) by Rinki, a representative of Angel One. Over time, Dheeraj Mishra falsely identified himself as Ashish Kumar and directed all my trades with misleading assurances of profit recovery and doubling my investments. These trades were strategically manipulated to generate high brokerage revenue, causing me significant financial losses.
Manipulative Practices:
1. False Assurances:
Dheeraj Mishra and his associates, including Mr. Jain (introduced as a research expert), misled me into believing that my losses could be recovered if I executed additional trades.
They assured me of profits on every trade, pressuring me to add funds multiple times, despite my concerns about high brokerage charges.
2. Directed Trading:
Every trade I executed was directed by Dheeraj Mishra or his team through WhatsApp messages, calls, and detailed instructions.
Trades were deliberately structured to inflate brokerage revenue, without regard for my financial well-being.
3. Misrepresentation:
Dheeraj Mishra used multiple aliases, including Ashish Kumar, to create confusion and maintain control over my trading activities.
On 26 November 2024 (2:49 PM) and 19 December 2024 (3:26 PM), Dheeraj Mishra admitted his true identity during calls where he tried to convince me to withdraw my complaints.
4. Exploitation of Trust:
Being new to Angel One’s platform, I relied on their representatives for guidance, which they exploited to push high-frequency trades that benefited them at my expense.
Actions Taken:
1. Filing Complaints:
I lodged a formal complaint with SEBI (Complaint ID: SEBIE/MH24/KOLH/042325/1) detailing the manipulative practices of Dheeraj Mishra and Angel One.
Escalated the matter to SEBI’s SMART ODR platform for further investigation.
2. Evidence Submission:
Provided supporting evidence, including WhatsApp chats, call logs, and trade records, proving direct involvement and manipulation by Dheeraj Mishra and his team.
Highlighted Angel One’s failure to monitor and address fraudulent practices by their sub-broker.
3. Research Findings:
Identified prior complaints and penalties against Angel One for similar unethical practices, indicating systemic negligence.
Documented financial data showing Angel One’s disproportionate spending on sub-brokers, incentivizing high-volume brokerage generation.
Key Issues:
1. Deliberate Manipulation: Trades were designed to inflate brokerage revenue, not to benefit the client.
2. Misrepresentation: Dheeraj Mishra acted under false identities, eroding trust and misleading me throughout the process.
3. Systemic Negligence: Angel One failed to address or investigate the fraudulent activities of its sub-broker and representatives.
Call for Action:
It is evident that Angel One supports sub-brokers like Dheeraj Mishra to prioritize brokerage generation over client welfare. I urge regulatory authorities to:
Investigate Angel One and sub-broker DHJH for systemic negligence and fraudulent practices.
Hold Angel One accountable for its role in facilitating these manipulations.
Implement stricter regulations to protect traders from such exploitation.
Traders must exercise caution when dealing with Angel One or sub-brokers like DHJH. Always verify the legitimacy of representatives and maintain detailed records to protect against such unethical practices. This case underscores the need for strict oversight to prevent the exploitation of traders for brokerage revenue.
Now a days he is operating as Vpeen Kumar
