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- Sebi Bans Actor Arshad Warsi, 58 other other other other
Mumbai2 hours ago
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Bollywood actor Arshad Warsi and his wife Maria Gratti.
Security and Exchange Board of India (SEBI) has banned Bollywood actor Arshad Warsi and his wife Maria Gratti from the stock market for 1 year.
This action has been taken in the shares of Sadhana Broadcast in the case of rigging under the “Pump and Dump” scheme. SEBI has also imposed a fine of Rs 5-5 lakh on them. Apart from these two, 57 other people have also been banned from 1 to 5 years in this case.
The pump and dump scheme is a type of stock market fraud. In this, some people together incorrectly increase the price of a company’s share, such as by spreading misleading news or giving false advice. When the price is high, they earn profits by selling their shares. This causes huge damage to common investors, as the price falls later.
What action did SEBI take on the people involved in the scam?
- Arshad Warsi, his wife and his brother Iqbal Warsi were banned from the market for 1 year. A fine of 5-5 lakhs has also been imposed.
- Seven masterminds have been banned for 5 years. Those involved in the scheme have been fined from 5 lakh to 5 crore rupees.
- All 59 people have been ordered to return illegal profits of Rs 58.01 crore. 12% annual interest will also have to be paid from the date of ending the investigation till the return of the money.
Arshad Warsi from this fraud Earned 41.70 lakh rupees
Arshad Warsi earned a profit of Rs 41.70 lakh from this scheme, while his wife Maria Gratti took advantage of Rs 50.35 lakh.
SEBI offered evidence of WhatsApp chats, which revealed a conversation between Manish Mishra and Arshad Warsi, who runs YouTube channel.
In these chats, Manish had asked to transfer Rs 25 lakh to the bank accounts of Arshad, Maria and Iqbal. Manish was the mastermind of this scheme.
On 13 July 2022, Arshad Warsi bought 1.87 lakh shares from Jatin Shah associated with this scheme. On the same day Maria bought 2.65 lakh shares. Later, they were made profits by selling them.
Arshad Warsi earned profits by rigging Sadhana Broadcast shares.
Understand the whole matter in three points
1. On 29 May 2025, SEBI issued a detailed order of 109 pages, which revealed the entire story of this scam. SEBI investigation covers the period from 8 March 2022 to 30 November 2022. During this time, the shares of Sadhana Broadcast were rigged.
2. SEBI found that Arshad Warsi and others together incorrectly increased the price of Sadhana Broadcast shares. For this, he coordinated the scheme through WhatsApp groups and put misleading videos on YouTube channels.
These included channels like Moneywaise, The Advisor and Profit Yara. In these videos, Sadhana Broadcast was described as a great investment opportunity, which wooed common investors.
3. SEBI investigation revealed that a paid marketing campaign of one crore rupees was also run to bring these YouTube videos to more people. These videos talked falsely and exaggerated, so that investors buy shares and increase prices.
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