Mumbai ( Newshub desk): The Securities and Exchange Board of India (SEBI) has imposed restrictions on actor Arshad Warsi, his wife Maria Goretti, and 57 others in connection with an alleged market manipulation scheme involving Sadhna Broadcast shares.
SEBI’s investigation uncovered a well-orchestrated effort where certain individuals artificially inflated stock prices before promoting them through misleading YouTube videos.
Warsi and Goretti have been slapped with a one-year ban and a ₹5 lakh fine each. Some entities face bans of up to five years, with financial penalties ranging from ₹5 lakh to ₹5 crore.
In addition to market restrictions, SEBI has directed the involved parties to return illicit earnings, estimated at ₹58.01 crore, along with accrued interest.
This high-profile case has put the spotlight on unethical stock promotions and raised concerns about the credibility of financial advice disseminated on digital platforms.
With authorities tightening their grip on securities fraud, experts anticipate stricter monitoring of social media-based investment recommendations in the future.
