India, Nov. 6 -- Indian investors who held Apple, Amazon, Tesla, and Nvidia shares allege they logged into their Stockal accounts to find those investments replaced with shares of a thinly traded Chinese microcap.

Nearly 30 investors say their portfolios were altered without consent on October 15. Their established US stock holdings were allegedly liquidated and the proceeds used to buy Nasdaq-listed Zhibao Technology shares.

One investor told Moneycontrol that securities worth $3.1 Mn, or around Rs.29 Cr, were sold within two minutes, followed by purchases of 30.5 Lakh Zhibao shares within 15 minutes. Another reported that holdings worth $335,768 were sold and 3 Lakh Zhibao shares purchased.

Media reports put investor-reported losses ...