The Security and Exchange Board of India has once again tightened up with those who rigged the stock market. SEBI has banned the YouTuber named Asmita Jitendra Patel. It is alleged that Asmita has defrauded investors Rs 104 crore through wrong trading tips, out of which SEBI has also seized Rs 54 crore.

Scam under the guise of education

According to the report, Asmita Patel runs the Global School of Trading Private Limited platform and is taught about trading in the stock market there. However, under the banner of Education Channel, he scammed more than 100 crores. SEBI in his investigation found that she used to run paid courses like Lets Make India Trade (LMIT), Masters in Price Action Trading (MPAT) and Options Multiplier (OM) on her platform and invested in the market with teaching trading in those courses. Advice was also being given. This was revealed by some teachers associated with his platform.

Sebi found in investigation that he was asked to buy a few selected shares in the name of teaching trading. It was advisable to buy and sell shares through the messaging app Telegram. Not only this, Asmita used to open an account in the special brokerage firm of investors associated with them.

Sebi issued notice

SEBI has banned Asmita Patel and husband Jitesh Jetlal Patel and four other institutions from advising investment and providing service service. SEBI has sought an explanation on his company as to why he should not be banned. If he is unable to answer it properly, then further strict action can be taken against him.