Nidadavolu Ashok Kumar

Almost all investors who have taken professional advice to invest their hard-earned money

have, at one time or another, faced fraud, deception and mis-spelling from those selling mutual funds,

ULIPs and shares. Some of these investors have lost all their wealth and many of them committed suicide since

they could not withstand the financial loss.

Investors believe, by and large, that the fraud is perpetuated mostly by the agents who sell them the

investments. The agents are only a small proportion of the persons cheating investors. The main actors

are behind the scenes. The Book offers insights on how investors are cheated by academicians, the media,

asset management companies, fund managers, and other experts. These experts create a world of

delusions (called ignis fatuus in Latin) to feed the investors’ desire to earn money quickly. The Book

describes the environment that has been created in the financial sector and how that environment facilitates

fraud and deception. The 10 most common statements that experts make which create the world of ignis fatuus

(delusions) for investors are examined. Evidence is provided to show why all the statements that promise

investors high returns amount to misrepresentation or fraud.

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