Shahid was a govt. employee who had invested 2 lacs in a Mutual Fund ( Dividend ). One day he received a phone call from a fund manager. The manager said that he manages funds of SBI and wants to know if Shahid had received dividends on his mutual fund investment. Shahid was surprised to know that how did the caller knew about his investments. The caller told Shahid not to worry and also said that the mutual fund company has been contacting all its investors regarding the same issue. Shahid replied that he had not received any dividends on his investment. The caller said that many of the agents have been cheating investors and were keeping the dividend which were issued to the investors. He also told that Shahid should have received a dividend of 20000 rupees. Shahid was shocked to know it and begged for help. The caller told him that he would be sending a person to his house to solve the matter. After two hours a man came his house. He asked Shahid to issue a cheque of just 2599 rupees rupees in the name of fund manager and give a photocopy of his pan card. He said that as per the company's procedure the cheque would be cancelled by the fund manager himself and then a new cheque of 20000 rupees would be issued to Shahid after one week. Considering the smaller amount Shahid did not feel that he was being cheated. The man took the cheque as well as a photocopy of his pan card and left his house. After about two weeks when Shahid did not receive any cheque he went to the Company's office. There he was told that no such call had ever been made by the company and there was no dividend issued. Shahid knew he had been cheated. He tried to call the same fund manager but his call could never connect.
What to do ?
1. Do not issue a cheque to any stranger.
2. Never believe in such calls. A fund manager will never call all its investors ( He is a very busy person ).
3. If there is a doubt then its better to find out yourself. These days it is very easy to find dividend related information about any mutual fund though Internet.
What to do ?
1. Do not issue a cheque to any stranger.
2. Never believe in such calls. A fund manager will never call all its investors ( He is a very busy person ).
3. If there is a doubt then its better to find out yourself. These days it is very easy to find dividend related information about any mutual fund though Internet.
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