What allegations has the EOW made against Globe Capital Market?

The EOW has accused Globe Capital Market of submitting forged financial statements, manipulating share trading, and creating artificial losses for clients.

How much money did the investor claim to lose due to Globe Capital Market?

The investor claimed to have paid ₹35 crore after being informed of artificial losses and a debt to the firm.

Is Globe Capital Market suspected of defrauding other investors?

Yes, EOW sources suspect that Globe Capital Market may have committed similar acts against other customers.

Home / Business and Economy / Brokerage Firm Accused of ₹35 Crore Fraud

Brokerage Firm Accused of ₹35 Crore Fraud

27 Nov, 2025

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Summary

Brokerage firm Globe Capital Market faces fraud charges.
Investor claims firm created fake losses of ₹35 crore.
EOW investigation expands, suspecting other victims.

Brokerage Firm Accused of ₹35 Crore Fraud

The Economic Offences Wing (EOW) in Mumbai has initiated a case against Globe Capital Market, a registered brokerage firm, following a complaint from a 72-year-old investor. The firm is accused of submitting forged financial statements and manipulating share trading activities to create artificial losses for clients.

The investor, Bharat Shah, along with his wife, reportedly opened accounts with Globe Capital Market in 2020. They allege that relationship managers provided fabricated transaction statements showing profits, while simultaneously informing them of a ₹35 crore debt. Fearing liquidation of their assets, the couple paid the amount, only to later discover discrepancies during an audit.

EOW sources revealed that the investigation is ongoing, with suspicions that similar fraudulent activities may have affected other customers. Summons are expected to be issued to the involved individuals from next week as the probe into the alleged ₹35 crore fraud intensifies.