Recently SEBI (Securities and Exchange Board of India) banned 45 people from participating in the stock market following a complaint about stock price manipulation. According to a PTI (Press Trust of India) report, these also include Arshad Warsi and his wife Maria Goretti.
SEBI bans Arshad Warsi and his wife Maria Goretti from the stock market for alleged manipulation of stock prices
SEBI made the decision after an investigation into allegations of share price manipulation by certain entities of two companies, Sharpline Broadcast and Sadhna Broadcast, by allegedly sharing misleading videos on their YouTube channels advising people to buy shares of their companies for “extraordinary” profits.
Apart from the ban, SEBI has also seized illegal profits worth Rs 54 crores made by the entities through the allegedly misleading videos. According to the PTI, Arshad and Maria reportedly made profit of Rs 29.43 lakhs and Rs 37.56 lakhs respectively in this way.
SEBI started the investigation after receiving complaints about some entities that were allegedly involved in price gouging and selling shares of Sharpline Broadcast and Sadhna Broadcast to attract potential investors.
SEBI investigated the scenario from April to September 2022 and found that there was a sharp increase in the price and volume of shares owned by the two companies from April to mid-July 2022.
On the employment front, Arshad’s latest film starred Akshay Kumar. bachchan paandey last year. Following this, she was also seen in the anthology Modern Love: Mumbai in the same year. Recently, his as-yet-untitled comedy with Sanjay Dutt was also announced.
Also Read: Munna Bhai Pairs Sanjay Dutt And Arshad Warsi To Reunite For A Sidhaant Sachdev Comedy
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