Beware of social media fraudsters masquerading as me: Nilesh Shah of Kotak Mutual Fund

Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Company, has issued a public warning to investors about fraudsters on social media masquerading as him.

Shah posted on social media platform X that, “This is fraud. Please beware of such fraudsters on social media masquerading as myself. I don’t give stock specific views.”



Along with the post, he linked a "fraud" video where Nilesh is asked about what good advice he has for investors and in response to that Shah is shown answering that every morning at 9:00 AM he shares one or three hot stocks in his Whatsapp group.

And on why no one is leaving the group, Shah is shown saying that it was because there are no fees, no subscription, and the updates are consistent, and everyday we provide with the latest and most comprehensive stock analysis recommendations.

In May also, Kotak Mutual Fund posted on social media platform X that a fraudulent account is impersonating Shah on social media and also requested investors or users to follow only the official account on X and unfollow and report the fraudulent account immediately.

He posted, “A fraudulent account is impersonating Mr. Nilesh Shah on social media. Please be aware that @NileshShah68 is the only official account. If you are following any other account claiming to be him, we kindly ask you to unfollow and report it immediately. Together, we can prevent the spread of false information.”


On May 1, Shah shared an image of an account which he mentioned as fraud and requested everyone not to fall into the trap.


The official account of Nilesh Shah on social media platform X is @NileshShah68 and that of Kotak Mutual Fund is @KotakMF.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)