Bollywood actor Arshad Warsi and his wife Maria Gratti are caught in a big financial scam. Both have been seriously accused of manipulation in the stock market, due to which SEBI (Securities and Exchange Board) has taken strict action against them.

Environment in ‘Pump and Dump’ scheme
SEBI investigation has revealed that the shares of Sadhana Broadcast Limited were cheated under the ‘Pump and Dump’ scheme. Under this scheme, the share prices are deliberately raised, and then selling it at high prices makes a big profit, causing huge losses to common investors.

SEBI has claimed that Arshad Warsi, his wife Maria and his brother worked together with Manish Mishra in the scam. During the investigation, WhatsApp chats also surfaced, which was a matter of transfer of Rs 25-25 lakh.

One year ban and fine
Arshad Warsi, his wife and brother have been banned from the stock market for one year.

Both have been fined Rs 5-5 lakh.

Apart from this, a ‘Eligel Profit’ of Rs 1.05 crore has also been ordered to be returned.

Overall, 61 people have been punished in this scam, out of which 7 have been banned for 5 years.

Arshad Warsi cleaning
Arshad Warsi gave a clarification saying, “I was unaware of the technical talk of the stock market. I did not know how much risk it is.” It has been told that he did not only trading from his wife and brother’s account, not only himself.

Who is the mastermind of the scam?
According to SEBI report, the masterminds of this racket were Manish Mishra, Gaurav Gupta and Rakesh Kumar Gupta, who misled the people and committed fraud in the stock market.

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