India, Oct. 26 -- A stock-market investment call centre allegedly posed as a SEBI-registered outfit to lure investors with promises of profits, pocketed 30% of the gains and blacklisted clients whose investments suffered losses, the police said. Thirteen people have been arrested after Nalasopara police raided the alleged operation, which was functioning without the required clearance from the Securities and Exchange Board of India (SEBI).

The accused allegedly operated under the name 'For Invest 2 Gain Research' and contacted potential investors using mobile numbers sourced from external agencies. Police seized items worth Rs.8.57 lakh during the raid. The 13 arrested accused were produced before a court on Sunday, which remanded them t...