The Securities and Exchange Board of India (SEBI) has banned 45 people, including Indian actor Arshad Warsi and his wife Maria Goretti, from participating in securities market activities for allegedly manipulating share prices.
According to Indian media, Sadhana Broadcast and Sharpline Broadcast were accused of trying to induce people to buy their shares by promising extraordinary profits through misleading videos on their YouTube channels.
After investigating the complaints received by SEBI, it was decided to ban 45 persons including Arshad Warsi and his wife for the alleged share price manipulation.
Apart from the ban, Sebi has also seized INR 54 crore illegally earned by the concerned persons through videos based on misleading information.
29.43 lakhs of Arshad Warsi and 37.56 lakhs of his wife were also seized in the money seized by SEBI.