Latest news with #MariaGoretti
Time of India
3 days ago
- Business
- Time of India
Sadhna Broadcast case: Sebi bans Arshad Warsi, wife Maria Goretti from the securities market; actor fined Rs 5 lakh
Sadhna Broadcast case: The Securities and Exchange Board of India (Sebi) has barred actor Arshad Warsi, his wife Maria Goretti, and 57 others from being involved in securities markets for periods ranging from one to five years. The action comes following the actor and his wife's collaboration on videos posted on YouTube that prompted viewers to purchase shares of Sadhna Broadcast, the central agency said. Arshad Warsi banned from securities market, fined Rs 5 lakh Actor Arshad Warsi, best known for his work in films such as Munnabhai MBBS and Jolly LLB, has landed in trouble because of his role in the Sadhna Broadcast case. On May 29, Sebi imposed monetary penalties of Rs 5 lakh each on Warsi and his wife, Goretti. Moreover, they have been banned from the market for a year. Further, the regulatory body has imposed financial penalties ranging from Rs 5 lakh to Rs 5 crore on 57 other parties. This includes the promoters of Sadhna Broadcast, which is now known as Crystal Business System Ltd. Sebi further asked all 59 entities to return collective illegal profits of Rs 58.01 crore. An additional annual interest of 12 per cent will also be levied. This has to be paid jointly till the entire amount is sorted. As per Sebi's findings, Arshad Warsi earned profits of Rs 41.70 lakh, while Maria Goretti made Rs 50.35 lakh from their actions. About the Sadhna Broadcast case In its detailed report, Sebi noted that the scheme was carried out in two stages. In the first one, promoter-associated entities conducted trades internally in a bid to increase the scrip price and create fake market activity. The transactions had an impact on pricing largely due to limited market liquidity. This gave the concerned parties an opportunity to boost the share value while utilising negligible trading resources. After this, promotional content was broadcast on various YouTube channels. These videos projected SBL as a top-notch investment option and went hand-in-hand with the orchestrated market activities Arshad Warsi and Maria Goretti married in 1996. They have two children. Goretti was a noted VJ. She also made a guest appearance in Rajat Kapoor's Raghu Romeo. Arshad Warsi, meanwhile, is gearing up for the release of Jolly LLB 3 and Welcome to the Jungle.
Time of India
3 days ago
- Business
- Time of India
Why Sebi short-circuited Munna Bhai's Circuit: Arshad Warsi, wife among 59 banned for role in YouTube stock manipulation scheme
SEBI on Thursday barred actor Arshad Warsi, his wife Maria Goretti, and 57 others from trading in securities for one to five years, alleging their involvement in a pump-and-dump scheme that misled retail investors into buying Sadhna Broadcast shares through manipulated online content and coordinated trading. Tired of too many ads? Remove Ads Bollywood meets the boiler room Tired of too many ads? Remove Ads The script for the scam SEBI's findings and fallout Tired of too many ads? Remove Ads Celebrity in the crosshairs SEBI's action timeline Munna Bhai's beloved sidekick has run afoul of the law, but this time, it's not on the silver screen. Arshad Warsi , best known for his iconic role as ' Circuit ' in the Munna Bhai films, now finds himself entangled in a very different plot— in a securities scam that played out across YouTube and the Indian stock market. India's markets regulator, Securities and Exchange Board of India SEBI ), on Thursday barred Warsi , his wife Maria Goretti , and 57 others from trading in securities for periods ranging from one to five years, alleging they were part of a pump-and-dump scheme that misled retail investors into buying shares of Sadhna Broadcast Ltd through manipulated online content and coordinated a sweeping crackdown involving 59 individuals and entities, SEBI said the couple participated in a carefully orchestrated campaign to artificially inflate the price of Sadhana Broadcast shares and dump them on unsuspecting retail imposed a penalty of Rs 5 lakh each on the Bollywood couple, while also ordering them to return illicit profits, Rs 41.70 lakh for Warsi and Rs 50.35 lakh for Goretti, made from trading Sadhna Broadcast shares during the manipulation window. In total, SEBI directed 59 entities to jointly disgorge Rs 58.01 crore in unlawful gains, along with 12% annual interest, under a sweeping final order issued May case centers on what SEBI has called a 'carefully structured' two-phase scheme that involved rigging the stock price through circular trading and luring retail investors with viral YouTube videos recommending the to the 109-page order, the operation was orchestrated primarily by Manish Mishra, who controlled five YouTube channels—Moneywise, The Advisor, Profit Yatra, India Bullish, and Midcap Calls—that uploaded promotional videos featuring exaggerated claims and baseless price targets for Sadhna investigation found that the scheme kicked off with structured trades between connected parties to artificially drive up the price of the low-liquidity stock. The trading activity, though small in volume, created the illusion of investor interest and upward the stage was set, the second phase began. Between July and November 2022, a series of videos were uploaded on the Mishra-run channels, touting Sadhna Broadcast as a hidden gem. The videos falsely claimed the company held a 5G license, was being acquired by the Adani Group, had secured a Rs 1,100 crore contract with a U.S. investor to produce devotional films, and had major mutual fund backing. Retail investors, drawn in by the fabricated bullish narrative, poured into the stock just as the operators began to entire operation was amplified through paid marketing campaigns on Google Ads worth over Rs 3.39 crore, funded by Mishra and his associates. The videos garnered millions of views before being marked to the order signed by SEBI Whole-Time Member Ashwani Bhatia, the operation 'revealed a classic pump-and-dump scheme' that involved 'collusive trading, aggressive promotional activity to draw in retail investors, and finally, a coordinated sell-off by the promoters.'Warsi and Goretti purchased shares just days before the first videos went live and offloaded them soon after prices surged. Their trades were matched with accounts of known operators, including Jatin Shah and Angad Rathod, highlighting their integration into the broader traced connections between nearly all 59 noticees through call records, financial transfers, trading behaviour, common addresses, and shared IP logs. Entities were categorized as misleading message disseminators, volume creators, net sellers, and information carriers. Promoter group members and employees of Sadhna Broadcast—now renamed Crystal Business System Ltd—were also found to have actively participated or facilitated the who earned critical and popular acclaim for playing 'Circuit' in Munna Bhai M.B.B.S. and Lage Raho Munna Bhai, now joins the growing list of public figures ensnared in financial investigations involving market manipulation and social media influence. The order against him follows an interim action issued in March 2023 and a detailed investigation spanning trades from March to November addition to the couple's one-year market ban, SEBI handed longer debarments—up to five years—to others deemed central to the scheme. These include Gaurav Gupta, Rakesh Kumar Gupta, and Mishra himself, along with broker-linked entities and shell companies used to circulate trades and book final order follows an investigation period spanning March 8 to November 30, 2022. SEBI launched its inquiry after receiving complaints between July and September 2022 that alleged 'price manipulation and subsequent offloading of shares' in Sadhana Broadcast. The complaints also claimed misleading YouTube content was part of a paid marketing campaign aimed at retail interim order was issued on March 2, 2023, against 31 entities, including the company's promoters. This week's final ruling expands enforcement action to 59 most entities faced monetary penalties, SEBI exempted Varun Media Pvt Ltd—a promoter group entity currently undergoing insolvency proceedings—from any financial penalty. However, it clarified that the disgorgement order would remain applicable and further action would be addressed through a separate case stresses on SEBI's sharpened focus over the intersection of social media and securities fraud. By targeting a celebrity and leveraging YouTube influencers, the operation capitalized on the retail boom in India's stock markets and the growing clout of online financial content creators.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Hans India
3 days ago
- Business
- Hans India
SEBI Cracks Down on Pump-and-Dump Scam Involving Bollywood Actor Arshad Warsi
In a sweeping regulatory move, the Securities and Exchange Board of India (SEBI) has barred Bollywood actor Arshad Warsi, his wife Maria Goretti, and 57 other individuals from participating in the securities market for periods ranging from one to five years. This action comes after SEBI's investigation into a pump-and-dump scheme linked to Sadhna Broadcast Ltd, now renamed Crystal Business System Ltd. The Pump-and-Dump Scheme: What Happened According to SEBI's final order issued on Thursday, the scheme involved a coordinated effort to artificially inflate the price of Sadhna Broadcast shares through misleading YouTube videos, generating public interest and driving retail investors to buy in. Once the price spiked, key players dumped their shares at inflated prices, pocketing massive profits before the stock crashed. SEBI's probe covered the period between March 8, 2022, and November 30, 2022. Who Benefited and What Are the Penalties? Gaurav Gupta emerged as the largest beneficiary, making a profit of Rs 18.33 crore. Sadhna Bio Oils Pvt. Ltd gained Rs 9.41 crore. SEBI ordered disgorgement of Rs 58.01 crore in unlawful gains from all 59 entities involved, with 12% annual interest from the end of the investigation period until full payment. Arshad Warsi and Maria Goretti were each fined Rs 5 lakh. These penalties are part of SEBI's broader crackdown on fraudulent market activities that harm retail investors and undermine market integrity. What Is a Pump-and-Dump Scheme? Pump and dump is a form of securities fraud where the price of a stock or other asset is artificially inflated so insiders can sell at a profit, followed by a sharp decline in value that leaves unsuspecting investors with significant losses. How It Works: Pump: Insiders or coordinated groups spread false or exaggerated information to hype up a stock. Retail investors, seeing the rising prices, rush to buy in. This pushes the stock price even higher. Dump: Once the price reaches a desired level, insiders sell their holdings. The stock price plummets, causing massive losses to latecomers. Why Is It Illegal? In regulated markets, pump-and-dump is considered securities fraud and is punishable under laws like the Securities Exchange Act in the U.S. and relevant Indian laws under SEBI regulations. In unregulated or loosely regulated markets (such as certain cryptocurrency exchanges), enforcement is more challenging, though regulators are increasingly cracking down on such schemes. For investors, this serves as a stark reminder: always research thoroughly and beware of too-good-to-be-true tips, especially on social media platforms.
Mint
3 days ago
- Business
- Mint
SEBI bars Bollywood actor Arshad Warsi, wife, others from stock market. Details here
Bollywood actor Arshad Warsi, his wife Maria Goretti and 57 others have been barred by the stock market regulator Securities and Exchange Board of India (SEBI) from accessing the Indian equity market for a period of up to five years in a stock manipulation case. The case pertains to Sadhna Broadcast Ltd (SBL) — a little-known company whose shares were artificially inflated and offloaded onto unsuspecting retail investors through a coordinated stock manipulation scheme. The case pertaining to Sadhna Broadcast, whose name was changed on May 23, 2025, to Crystal Business System, is a textbook example of a "pump-and-dump" scam. As part of the scam, the promoters of the company executed trades among themselves in a highly coordinated manner, thus driving the stock price higher. SEBI said that while these trades — often small in volume — had a disproportionate impact on price due to low liquidity, allowing the perpetrators to push the scrip upward with relatively minimal trading outlay. In the second part of their plan, they turned to promoting the stock through YouTube channels, attracting retail investors to whom the shares could be sold at inflated prices. This was done by releasing misleading promotional videos across several YouTube channels, including Moneywise, The Advisor, and Profit Yatra—all operated by Manish Mishra, who played a central role in the scheme. These videos presented SBL as a promising investment opportunity and were timed to coincide with and amplify artificial market activity, SEBI said. The claims pertained to the company signing a deal with Adani group, or entering into a ₹ 1100 crore contract with a big American corporation, to mutual fund buying in the stock. SEBI said in its order that the contents of the video were false and misleading and were uploaded to manipulate the share prices of SBL.
Time of India
3 days ago
- Business
- Time of India
In 109-page order, SEBI bans Bollywood actor, his wife and 57 entities from stock market
The Securities and Exchange Board of India (SEBI) has banned Bollywood actor Arshad Warsi, his wife Maria Goretti , and 57 others from the securities markets for periods ranging from one to five years, reports news agency PTI. In a detailed 109-page final order issued on Thursday - May 29, SEBI barred a total of 59 individuals and entities from the stock market for periods ranging from one to five years. The regulator imposed penalties ranging from Rs 5 lakh to Rs 5 crore on various parties, including promoters of Sadhna Broadcast. Apart from the market bans and penalties, SEBI has directed all 59 entities to return a total of Rs 58.01 crore in unlawful gains. Additionally, the regulator has imposed 12% annual interest from the end of the investigation period until the actual date of repayment. As per the report, Arshad Warsi reportedly made Rs 41.70 lakh in profit, while Maria Goretti earned Rs 50.35 lakh. YouTube-based pump-and-dump scheme According to SEBI, the manipulation was carried out in two planned phases. In the first phase, trades were executed among connected and promoter-linked entities to artificially inflate the price of Sadhna Broadcast shares. These trades created the illusion of strong market interest despite low trading volumes. In the second phase, false and promotional videos were circulated on YouTube channels like Moneywise, The Advisor, and Profit Yatra, all operated by Manish Mishra. These videos painted Sadhna Broadcast as a strong investment opportunity, coinciding with the inflated trading activity to attract unsuspecting retail investors. 'The overall conduct of the noticees has revealed a classic pump-and-dump scheme. The price was systematically pushed upward through collusive trading, followed by aggressive promotional activity to draw in retail investors, and finally, a coordinated sell-off by the promoters,' SEBI whole-time member Ashwani Bhatia said in the order. Key players named in Sadhna Broadcast fraud The order names Gaurav Gupta, Rakesh Kumar Gupta, and Manish Mishra as the masterminds behind the operation. Subhash Aggarwal, a director at the registrar and transfer agent (RTA) of Sadhna Broadcast, acted as the link between Mishra and the company's promoters. Further, Peeyush Agarwal and Lokesh Shah — a dealer at Choice Broking and owner of its Delhi franchise, respectively — were found to have facilitated trades through accounts under their control to support the manipulation. Jatin Shah was identified as playing a key role in executing the scheme. iPhone 16e: 5 Reasons to buy the most affordable iPhone 16 series model! AI Masterclass for Students. Upskill Young Ones Today!– Join Now
