Arshad Warsi, wife Maria Goretti gets banned by SEBI over Youtube scam

Actor Arshad Warsi and his wife Maria Goretti have landed in trouble. The Securities and Exchange Board of India (SEBI) has been reportedly banned in a case related to misleading videos on YouTube channels recommending investors buy shares of a certain company.

SEBI found that certain individuals uploaded false and misleading videos recommending investors buy shares of Sadhna Broadcast Ltd and Sharpline Broadcast Ltd for extraordinary profits. In addition to Arshad Warsi and Maria Goretti, some promoters of Sadhna Broadcast Ltd have also been restrained from participating in the securities market.

According to the interim order, Arshad Warsi made a profit of Rs 20.43 lakh, and Maria Goretti earned a profit of Rs 37.56 lakh. However, the actor took to Twitter, and requested everyone not to believe. He also mentioned that he and his wife lack knowledge of the stock market.

“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,” he tweeted.

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.

— Arshad Warsi (@ArshadWarsi) March 2, 2023

The investigation began after SEBI received complaints alleging that certain entities were engaging in price manipulation and offloading shares of Sadhna Broadcast Ltd. and Sharpline Broadcast Ltd.