SEBI bans Arshad Warsi, Maria Goretti, Youtuber Manish Mishra, channel Moneywise in Sadhna stock pump & dump
时间:2024-06-26 16:05:57 阅读(143)
The Securities and exchange board of India has banned 31 individuals including Arshad Warsi and his wife Maria Goretti Warsi from buying, selling or dealing in securities for manipulating shares of Sadhna Broadcast by uploading misleading videos on YouTube. Capital markets regulator SEBI said that promoters of Sadhna Broadcast, and Arshad Warsi, along with Manish Mishra, the creator of youtube channels ‘Moneywise’ and ‘The Advisor’ recommended investors to buy the company shares, inflating its price and later dumped it. In one of the videos, the accused said that the Adani group will take over Sadhna Broadcast Ltd and after the acquisition, the company’s margin will improve. The other video claimed that the company is moving from TV production to movie production and a big American corporation has entered into a contract for Rs 1,100 crore to produce four devotional movies where the money will be brought in by the American investor but the rights will remain with Sadhna.
Sadhna Broadcast Ltd stock movement before and after the misleading videos got published:
Following this, the regulator conducted an examination during April-September 2022 and found a spurt in the price and volume of scrip of Sadhna between April and mid-July 2022. During the second half of July 2022, false and misleading videos about Sadhna were uploaded on two YouTube channels — “The Advisor” and “Moneywise”.
According to SEBI, Arshad Warsi has made a profit of Rs 29.44 lakh, his wife Rs 37.56 lakh, YouTuber Manish Mishra Rs 14.46 lakh, promoter Gaurav Gupta made Rs 7.6 crore, Shreya Gupta Rs 2.18 crore, Pooja Agrawal Rs 1.47 crore and Varun Media Rs 1.11 crore along with other people. The total alleged illegal profits made after the videos were uploaded was Rs 41.85 crore. Collectively, NSs and some of the VCs have booked extraordinary profits as a result of this scheme.
List of entities who made illegal profits:
All the entities have been directed by SEBI not to dispose of any assets, whether movable or immovable including money lying in bank accounts except with the prior permission of Sebi until the impounded amount is deposited in the escrow account.
猜你喜欢
- Petrol and Diesel Rate Today, 21 January- Fuel prices unchanged; Check prices in Delhi, Mumbai, other cities
- IPL 2023- Rinku Singh does it again for KKR, nerve-wrecking last over thrill still lingering - See Photos
- Gold prices to trade sideways to down this week on demand growth worries, recession fears; support at Rs 49800
- IPO news- TAC Security plans to go public this year, aims Rs 100 crore turnover by 2026
- Petrol and Diesel Rate Today, 25 December- Fuel rates steady; Check prices in Delhi, Mumbai, other cities
- Good governance- Kerala CM Pinarayi Vijayan unveils new recruitment board for transparent hiring process in state’s PSUs
- Is Gold losing its sheen due to inflationary pressure-
- Gold Rates- MCX gold inches higher on expectation that Fed’s hawkish stance may end in near future; support seen at Rs 59940-59770, resistance at Rs 60250- 60430
- IPL 2023- Showman Shubman Gill steals MI’s ‘Hitman’ glee, bats for Titans to cross swords with Kings - See Photos