By Prateek Shukla
Publication Date: 2026-11-04 05:59:00
Nearly 30 Indian investors have alleged that their US stock portfolios were sold without their permission on a digital platform used to invest in overseas markets. The proceeds, they claim, were then used to buy shares of a little-known Chinese company. Subsequently, the stock of that Chinese company crashed. This left investors exposed to losses estimated at more than Rs 100 crore.
The incident has triggered complaints to market regulators in India and the US. At the centre of the allegations is Stockal Securities, a Bengaluru-based fintech platform that helps Indian investors access US stocks. Investors say their holdings in companies such as Apple, Nvidia, Amazon, Tesla and Alphabet were liquidated on October 15, 2026, without authorisation.
The money was allegedly redirected into Zhibao Technology Inc., a thinly traded Chinese company listed in the US. The incident has raised a bigger question than the losses themselves: How could investors’ portfolios be sold and replaced with a completely different stock without their consent? And who is responsible for restoring their money?
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Stockal ‘Scam’: What Exactly Happened On October 15?
The alleged fraud centres on a series of transactions that investors say took place on October 15.
According to Moneycontrol,…
