Famous Indian actor Arshad Warsi and his wife Maria Goretti have been barred by the Securities and Exchange Board of India (SEBI) from any kind of trading or investment in the stock market for five years.
According to details, this action was taken in connection with allegedly misleading and fake YouTube videos that encouraged the public to invest in specific shares.
View this post on Instagram
SEBI (Securities and Exchange Board of India) is India’s financial regulatory body, responsible for overseeing the stock market, protecting investors’ rights, and ensuring transparency in the market. It was established in 1992. SEBI has full authority to ban any suspicious or fraudulent financial activity.
According to SEBI’s investigation, Arshad Warsi and Maria participated in some YouTube videos in which the purchase of shares of certain companies was recommended. These videos artificially inflated the share prices, misleading investors. Once the share prices rose, the shares were sold, resulting in losses for small investors while the video creators benefited greatly from the scheme.
This ban only applies to financial transactions and participation in the stock market; it does not mean that Arshad Warsi is banned from working in films or TV dramas. The film industry is a separate domain, and this ban does not have any direct legal impact on his acting career.
However, this decision could seriously damage his reputation, potentially leading producers and brands to avoid working with him. Additionally, if the case proceeds to court or further action is taken, it could have a deeper impact on his career.
