Popular actor Arshad Warsi and 45 others have been banned by SEBI (Securities Exchange Board Of India) from participating in security market. These people were banned from the securities market in a case related to uploading misleading videos on YouTube channels recommending investors to buy shares of Sadhna Broadcast Ltd. and Sharpline Broadcast Ltd. for extraordinary profits. There was a complaint on manipulation of share prices.
In July 2022 SEBI found that false and misleading videos about Sadhna were uploaded on two YouTube channels — “The Advisor” and “Moneywise”, both owned and operated by Manish Mishra. After the videos were released on these YouTube channels the price and trade volume of Sadhna scrip increased.
Arshad Warsi and Maria Goretti were classified as volume creators in the case. Volume Creators are the ones who both bought and sold shares of Sadhna during the Examination period, hence contributing to a rise in trading volumes and interest in the scrip.
Arshad Warsi had made a profit ₹29.43 lakhs and his wife Goretti earned a profit of ₹37.56 lakhs.
While tweeting about this matter Arshad wrote, “Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took advice and invested in Sharda, and like many other, lost all our hard earned money.”
Read the below tweet here:
Arshad Warsi will be next seen alongside his Munna Bhai Co-Star in an untitled film which will be releasing later this year. Arshad Warsi also has film named Banda Singh line-up which also stars Meher Vij (Bajrangi Bhaijaan and Secret Superstar fame).
