The stock market regulator SEBI has banned 57 people including Bollywood actor Arshad Warsi and his wife Maria Gratti. They have been banned from the security market for 1 year. SEBI says that these people were found in the market in works like fraud.
SEBI has taken major action against all of them in a case related to misleading videos on YouTube channel. These people had recommended investors to buy shares of Sadhana Broadcast on YouTube channels. In addition to banning 1 year, SEBI has also imposed a fine of Rs 5-5 lakh on some people.
According to SEBI, these people used to sell and sell the company’s share price arbitrarily and sell them at high prices. SEBI has ordered all these people to withdraw illegal earnings of Rs 58.01 crore with 12 per cent annual interest. Investigations have revealed that Arshad Warsi had earned a profit of 41.70 crores and his wife had earned a profit of 50.35 crores.
