SEBI unmasks ‘Ponzi-like’ scheme using broker licence; fund mobilisation crosses Rs 2,950 crore

MUMBAI: The Securities and Exchange Board of India (SEBI) has uncovered a case in which a stock broking licence was allegedly used as a front to run a Ponzi-like scheme, luring investors with promises of assured monthly returns of 10–12 per cent.

In an order issued against Trdez Investment Private Limited, the regulator said investors were misled into believing that several entities -- including Infinite Beacon, IB Prop Desk and Sispay TFS -- were linked to the SEBI-registered broker.

Agents allegedly leveraged this association to establish credibility and convince investors to transfer funds into bank accounts operated by these entities.

According to SEBI, investors were provided with dashboards reflecting fictitious profits, while initial withdrawals were permitted to build trust.

However, withdrawals were later restricted, raising red flags about the authenticity of the operations.