00:00Markets regulator, the Securities and Exchange Board of India, meanwhile, Sebi, on Thursday,
00:07barred Bollywood actor Arshad Varsi, his wife, Maria Goretti, and 57 others from the securities
00:14market for period ranging from 1 to 5 years. The regulator imposed a fine of Rs 5 lakh each
00:20on Varsi and his wife, Maria. The decision came in a case related to misleading video
00:26on YouTube channels recommending investors to buy shares of Satna broadcast. Sebi found that
00:32Arshad Varsi had made a profit of Rs. approximately 41 lakh and his wife earned a profit of Rs. 50 lakh.
00:42According to the Sebi's report, it is noted that Arshad Varsi, in his statement recorded before
00:49Sebi on June 27, 2023, stated that apart from placing trades in his own account,
00:57he was also trading from the accounts of his wife and brother. It is further noted from the
01:02submissions of Notice 60 that Ahuti Mistry acted as the manager of Arshad Varsi.
01:09It is also stated in the complaint that YouTube videos were being uploaded with false content
01:14to lure investors. The complainant also provided links to YouTube videos,
01:19name of YouTube channels, and date when the video was uploaded.
01:23TV examined the complaints, and crime aphasia found that
01:26netsellers in the shares of SBL were connected to the creators of YouTube channels, wherein videos
01:32with false content and unrealistic target price for the script were uploaded with the intention
01:38to influence and induce public investors to invest in the script.
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