Actor Arshad Warsi, along with 44 others, including his wife Maria Goretti, have been banned from the securities market for one year by SEBI for manipulating share prices of Sadhna Broadcast Ltd and Sharpline Broadcast Ltd through misleading YouTube videos, reported national dailies.
After examining the complaints, SEBI found an increase in price and volume of shares between April and mid-July 2022, followed by false and misleading videos about the companies on YouTube channels. These videos recommended buying shares for profits, leading to a surge in trading volume and prices. Promoters and key management personnel offloaded their holdings at inflated prices and booked profits.
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