By Admin 
Sebi action on arshad warsi: The stock market regulator SEBI (Securities and Exchange Board of India) has banned Bollywood actor Arshad Warsi, his wife Maria Gratti and 57 other institutions from the security market for 1-5 years. On these, investors were advised to buy shares of Sadhana Broadcast through YouTube channels.
Arshad and his wife have illegal earnings
They are accused of misleading stock market investors and illegal money of lakhs of rupees. SEBI investigation found that Arshad Warsi has earned a profit of Rs 41.70 lakh and his wife made a profit of Rs 50.35 lakh from this scheme. For this, a fine of Rs 5-5 lakh has also been imposed on both of them.
SEBI has also imposed a fine of Rs 5 lakh to Rs 5 crore on 57 other institutions including Sadhana Broadcast (now Crystal Business System Limited) promoters. SEBI says that all of them have earned an illegal amount of 58.01 crore together, so now they will have to return the entire amount with 12 percent interest.
These are the masterminds of this entire operation
Sebi’s investigation also revealed that the mastermind was behind this entire operation was Gaurav Gupta, Rakesh Kumar Gupta and Manish Mishra. The final report of SEBI’s 109 pages also said, Subhash Aggarwal, who was the director in the registrar of Sadhana Broadcast Limited, played the role of mediation between Manish Mishra and promoters.
SEBI says that these people made a plan for the scheme to mislead investors. Apart from this, the market regulator also found that Piyush Aggarwal and Lokesh Shah gave Manish Mishra and SBL promoters to manipulate their accounts.
Full game took place in two phases
Jatin Shah also played a big role to execute this scheme. This entire game was carried out in two phases. In the first phase- investors associated with promoters used to trading among themselves. This gradually increased the price of shares. Due to low liquidity of the share, the price was affected even when trading in low volume.
In the second phase- Manish Mishra’s promotional videos were uploaded on YouTube channels like MoneyWise, The Advisor, and Profit Yatra. In these videos, investment in Sadhana Broadcast was made a better opportunity. In these, artificial activity matching the market was also shown, so that investors are attracted. Please tell that
Such activity is known as ‘Pump and Dump Scheme’, in which the price of the first share is increased and then they are made profits by selling them at a high price. In this, when small and common investors buy shares, big investors sell them at a higher price. This causes loss to small investors. According to SEBI report, investors have lost Rs 50 crore in this scheme.
SEBI took action after complaints
According to news agency PTI, SEBI gave this order after complaints received from July to September 2022. It was alleged that they were sold after manipulating the price of SBL shares.
Complaints also said that YouTube videos were uploaded with misleading and misinformation to woo investors and marketing campaign was also run by spending crores of rupees for more and more people to reach more and more people.
Let us know that SEBI investigated the alleged manipulation case in SBL shares from March 8, 2022 to 30 November, 2022 and passed an interim order against 31 institutions on 2 March 2023.
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