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"My Knowledge about stock is zero" Arshad clarifies on promoting pump and dump scheme

<p>Bollywood actor Arshad Warsi cleared all the buzz created on Sebi imposing a market ban on him and his wife for share price manipulation through misleading YouTube videos and said “my knowledge about stocks is zero”.While clarifying all the doubts he made it clear and said, “Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took the advice and invested in Sharda, and like many others, lost all our hard-earned money,Also read : Bollywood: Fact about Hrithik RoshanThis is when Sebi barred 45 entitles on Thursday including Arshad Warsi, his wife Maria Goretti and others, from the securities market in cases related to manipulating the share prices of two companies through uploading misleading videos on YouTube channels. Sebi has classified these entities into categories like — creator of YouTube channels (Manish Mishra), net sellers/ promoters and profit makers (NSs), volume creators (VCs) and information carriers (ICs).The two orders</p>

By mediology 01:40 PM Mar 03, 2023 IST

Bollywood actor Arshad Warsi cleared all the buzz created on Sebi imposing a market ban on him and his wife for share price manipulation through misleading YouTube videos and said “my knowledge about stocks is zero”.

While clarifying all the doubts he made it clear and said, “Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took the advice and invested in Sharda, and like many others, lost all our hard-earned money,

Also read : Bollywood: Fact about Hrithik Roshan

This is when Sebi barred 45 entitles on Thursday including Arshad Warsi, his wife Maria Goretti and others, from the securities market in cases related to manipulating the share prices of two companies through uploading misleading videos on YouTube channels.

Sebi has classified these entities into categories like — creator of YouTube channels (Manish Mishra), net sellers/ promoters and profit makers (NSs), volume creators (VCs) and information carriers (ICs).

The two orders came after the Securities and Exchange Board of India (Sebi) received certain complaints wherein it was alleged that there was price manipulation and offloading of shares by certain entities in the scrip of television channel Sadhna Broadcast and New Delhi-based Sharpline Broadcast.

The complaints alleged that misleading YouTube videos with false content about the two companies were uploaded to lure investors.

Subsequent to the release of the misleading YouTube videos, there was an increase in the price and trading volume of the scrip of two firms. The volumes appear to have been contributed by a large number of retail investors likely influenced by the misleading YouTube videos.

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