Greenfield Advisory Pte Ltd – $700,000 Scam, Shady Ownership
If you’re looking for a financial advisory firm in Singapore, you might come across Greenfield Advisory Pte Ltd.
It’s a secretive firm whose CEO makes bold claims without any proof.
Furthermore, the company has received complaints from a client for committing $700,000 fraud.
Before you trust them with your hard-earned money, here’s a detailed review on this firm:
Did You Know?
The most prominent mark in the American consumer history is the ‘ Dodd-Frank Act’. The Act prevents the risk, ceasing the occurrence of a complete financial crisis. The Act also provides common-sense protection for American families by preventing exploitation from pay-day lenders and mortgage firms.
About Greenfield Advisory Pte Ltd – Office, Services and Team
Greenfield Advisory Pte Ltd is a financial advisory firm based in Singapore. Their office is located at 9 Temasek Boulevard, #30-03, Suntec Tower 2, Singapore 038989.
The contact number of their office is 6221 2077.
According to their ‘About Us’ page, the company builds value for its investors through customer satisfaction and production of superior results. All of this sounds good on paper but the complaints it has received suggest otherwise.
The people behind Greenfield Advisory Pte Ltd are:
Saumyendra Mehra (CEO)
Saumyendra Mehra is the CEO of Greenfield Advisory Pte Ltd. According to his bio on the firm’s website, he collaborates with the research team to manage portfolio strategies on an advisory as well as discretionary basis.
His bio also says that he worked for Deutsche Bank India and RBS Dubai in the past. However, there is no proof for these claims.
Saumyendra Mehra doesn’t have a LinkedIn profile which shows his past experience working at these companies. Furthermore, if you look up “Saumyendra Mehra” with the name of these companies, you won’t find any meaningful results online.
Hence, it’s very difficult to trust these claims.
This is also a major red flag as clients should be well aware of the professional experience of their financial advisors. If you can’t trust the experience of Greenfield Advisory’s CEO, how will you trust their recommendations?
Amritanshu Roy (COO)
Next comes the COO of this financial planning firm, Amritanshu Roy. He is responsible for managing and structuring sector opportunities.
His bio also says that he has extensive experience in working with institutional and private clients.
However, unlike the CEO, Amritanshu Roy does have a LinkedIn profile:
Sameep Kasbekar
Here’s another team member of Greenfield Advisory Pte Ltd with a LinkedIn profile. Sameep claims to have over 7 years of professional experience as an equity research analyst.
He is a CFA and used to work with Emkay Global.
Now that you’re a little familiar with the people behind this company, let’s take a look at what their customers are saying. Below is a stringent complaint I found against Greenfield Advisory Pte Ltd:
Greenfield Advisory Pte Ltd is a Scam? Suspected of $700,000 Fraud
(Source)
According to the above reviewer, Greenfield Advisory Pte Ltd and Saumyendra Mehra are fraudsters.
They point out that the company claims to manage billions of dollars and act like legitimate and reasonable brokers. However, the reviewer points out that the company lies and cheats.
In their experience, the company refuses to communicate with its clients. Furthermore, Greenfield Advisory Pte Ltd uses dishonest “bait and switch” practices and claims ignorance.
Sometimes, they simply vanish and don’t communicate with their clients at all.
Moreover, the reviewer points out that the people here sign agreements but refuse to pay the agreed fees. Then, they disappear again.
The reviewer highlights that Greenfield Advisory Pte Ltd owes them $700,000. They have called them multiple times and have even sent emails. However, the company doesn’t respond.
In the end, they call them a bunch of fraudsters and scammers.
Conclusion
Apart from the complaint I shared above, there isn’t any other client review on this company. Certainly, it’s alarming.
Considering how secretive the CEO Saumyendra Mehra is and how serious this complaint is, I don’t think it would be a good idea to trust these people with your financial future.
Trusting the wrong financial advisory firm can cause you to suffer millions in losses. For example, the Oaks Group Morgan Stanley has faced numerous multi-million disputes because of the losses it caused its clients.
Hence, beware of Greenfield Advisory Pte Ltd.
My experience with such brokers wasn’t good at all, my company promised to give me returns of up to 20% every month and some extra returns also. But as my investment increased the company stopped sending the funds. I tried to communicate with the administration of the company but no one answered my calls.
Yeah, they are definitely a scam. Greenfield Advisory PTE LTD should be shut down for its shady practices. They need to be looked into by police.