Quant Mutual Fund has cautioned investors about fraudulent accounts on social media platforms. The warning specifically addresses individuals falsely claiming association with Sandeep Tandon, the CEO of Quant Money Managers Limited. The notice, which was publicly issued, emphasizes the unauthorized use of Tandon’s identity and images by deceitful individuals on various online platforms, including WhatsApp groups/links, Telegram channels, Instagram channels, and Linkedin. It is crucial to alert the public to be wary of falling for such fraudulent representations and to remain vigilant against potential scams and identity theft, according to the AMC.
In the notice, it was mentioned, “This is to inform the public that some unscrupulous individuals are presenting themselves as being affiliated with Mr. Sandeep Tandon, CEO of Quant Money Managers Limited (“Quant AMC”). They have been falsely impersonating and/or unauthorizedly using parts of Mr. Sandeep Tandon’s identity and photograph(s) on online platforms (Datameer AI) and social media platforms such as WhatsApp groups/links, Telegram channels, Instagram channels, and Linkedin.”
Quant Mutual Fund also added, “We urge the public to be cautious and refrain from circulating any unverified information, web links, and/or platforms. It is crucial to assess the credibility of such content before sharing or legitimizing it.”
The fund house clarified that there is absolutely no association between Sandeep Tandon and these platforms or the individuals associated with them. It was stressed that he will not be responsible for the actions, agreements, or statements of these individuals or any unidentified persons.
It was stated, “We want to inform the general public that Mr. Sandeep Tandon is in no way associated with these platforms or the individuals linked to these platforms, and will not be liable for any actions, agreements, or representations made by these individuals and unknown persons. All liability for any losses, damages, or other consequences resulting from such unauthorized actions and the use of information contained in such platforms not authorized by Mr. Sandeep Tandon or Quant AMC is disclaimed.”
In addition, the AMC has mentioned that the CEO Tandon is associated with other businesses through fictitious accounts, although his directorship is limited to the Quant Group of companies only.
The market regulator Sebi recently investigated Quant Mutual Fund for suspected front-running activities. In June, Sebi conducted search and seizure operations in Mumbai and Hyderabad as part of the probe into alleged front-running practices at Quant Mutual Fund.
Despite the regulatory investigation, Sandeep Tandon’s PSU scheme at Quant Mutual Fund outperformed its peers in July, delivering the highest monthly return of 11.39%. This scheme primarily invests 80-100% of its portfolio in the equity and equity-related instruments of PSUs. Additionally, it may allocate 0-20% in equity and equity-related instruments outside of PSU stocks, 0-20% in debt and money market instruments, 0-20% in foreign equity and equity-related instruments including Overseas ETFs, and 0-10% in units issued by REITs & InvITs.
