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The Securities and Exchange Board of India (SEBI) has barred actor Arshad Warsi, his wife Maria Goretti, and 57 others from the securities market for up to 5 years in a major stock manipulation case involving Sadhna Broadcast Ltd (now Crystal Business System Ltd).
🔍 What Happened?
Sebi found that stock prices of Sadhna were artificially inflated through low-volume trades, followed by misleading YouTube videos promoting the stock as a top investment. These videos lured retail investors, causing a massive spike—allowing manipulators to exit with heavy profits.
💸 The Fallout
Total illegal gains: ₹58.01 Cr
Arshad & Maria earned: ₹41.7L & ₹50.3L
Fine: ₹5L each
Banned from trading: 1 year
Others banned up to 5 years
All 59 entities must repay the gains with 12% annual interest.
📉 Why It Matters
This was a classic pump-and-dump scam, now powered by YouTube finance influencers. Sebi’s action sets a strong precedent:
Celebrity status or online popularity won’t shield you from market regulations.
STARTUPRO Take
Retail investors, beware of financial advice from unknown or flashy YouTube channels. If it sounds too good to be true—it probably is.
