Arshad Warsi and his wife, Maria Goretti, are banned from trading in the stock market for one year.

According to the latest reports, Arshad Warsi and his wife Maria Goretti have been fined Rs. 5 lakh each for manipulating stocks of Sadhna Broadcast shares. The Securities and Exchange Board of India (SEBI) has also directed them to pay back an amount of Rs. 1.05 crore against the illegal gains.

© Instagam/Arshad Warsi

Not only Arshad Warsi and Maria; SEBI has accused 59 people of the same.

SEBI has accused the group of orchestrating a scheme to artificially inflate the share price of Sadhna Broadcast, only to offload the stocks later to unsuspecting retail investors. In addition to imposing a trading ban, SEBI has fined each individual Rs. 5 lakh and ordered them to return a total of Rs. 1.05 crore in unlawful gains.

As per an India Today report, SEBI revealed that actor Arshad Warsi, along with others, collaborated with Manish Mishra — identified as the key figure behind generating fake hype around Sadhna Broadcast. Mishra allegedly ran misleading YouTube videos and sponsored campaigns to lure investors. SEBI's investigation uncovered WhatsApp chats between Mishra and Warsi, indicating that Mishra had proposed transferring ₹25 lakh each to the bank accounts of Arshad Warsi, his wife Maria Goretti, and his brother.

SEBI has imposed a five-year trading ban on seven individuals and a one-year ban on 54 others for their involvement in what it described as a “pump and dump” scheme. According to SEBI, the accused artificially inflated the share price of Sadhna Broadcast by spreading false and misleading information. Once the price surged, they offloaded their holdings, leaving retail investors to bear the losses.

© Instagam/Arshad Warsi

SEBI’s investigation revealed that the misleading claims allowed the promoters and their associates to offload shares at inflated prices. Nearly 45% of the total trades during the manipulation period were carried out through interconnected accounts. WhatsApp conversations further confirmed that these trades were timed to follow the release of deceptive YouTube videos, pointing to a well-orchestrated scheme.

On the work front, Arshad Warsi has three big-scale movies in his pipeline, including Welcome To The Jungle, Jolly LLB 3, and Dhamaal 4.