How did Indian investors in Apple, NVIDIA shares lose ₹100 crore in Stockal scam?

Around 30 investors, who held US shares including Apple, NVIDIA and Tesla through Bengaluru-based fintech platform Stockal Securities, have allegedly lost roughly ₹100 crore, Moneycontrol reported. Investors claim their holdings were sold without consent and proceeds were invested in Zhibao Technology. The Chinese stock, bought at an average price of $1.05, crashed 60% within days of purchase.