Kirthibhai Chavda Case (2025)

In April 2025, the Securities and Exchange Board of India (SEBI) ordered Real Capital Services and two associates to refund fees collected for unregistered investment advisory services. One of the associates, Kirthibhai Chavda, whose bank account was used to collect these fees, claimed he had no involvement in the business. Desperate for money during the pandemic, Chavda rented out his bank account for ₹5,000. SEBI later held him liable to refund ₹50 lakh due to his inability to prove ignorance.

Source: https://www.moneycontrol.com/news/business/markets/rent-a-bank-account-scam-how-it-works-and-who-is-at-risk-13011490.html

Nikhita Anil's LinkedIn Encounter

In February 2025, Nikhita Anil, a Senior Brand Marketing Manager based in Bengaluru, shared her experience of being approached by an individual offering to rent her LinkedIn account for $20 per week. The person requested login credentials and assured her that her personal contacts wouldn't be disturbed. This incident raised concerns about the misuse of professional accounts and sparked a broader discussion about online scams targeting professionals.

Source: https://timesofindia.indiatimes.com/technology/social/bengaluru-woman-offered-cash-for-her-linkedin-profile-asks-is-this-the-next-wave-of-/articleshow/118184498.cms