YouTube Hype, Bollywood Faces, and a Stock Market Sting: SEBI’s Blockbuster Crackdown on Sadhna Broadcast

Unknown Apr 02, 2026 1,100 Views

In a sweeping crackdown, the Securities and Exchange Board of India (SEBI) has barred 59 individuals—including Bollywood actor Arshad Warsi, his wife Maria Goretti, and key Sadhna Broadcast promoters—from the securities market for up to five years. The action follows SEBI’s investigation into a “pump-and-dump” scheme that used misleading YouTube videos and coordinated trading to lure retail investors and artificially inflate Sadhna Broadcast’s share price, now renamed Crystal Business System Ltd.

Key Highlights

Who’s Barred: Seven individuals, including promoters Gaur Gupta and Rakesh Kumar Gupta, face five-year bans; 52 others, including Arshad Warsi and Maria Goretti, are barred for one year.
Monetary Penalties: SEBI has imposed total fines of approximately ₹20 crore. Warsi and Goretti were each fined ₹5 lakh, with orders to return illegal profits—₹41.70 lakh (Warsi) and ₹50.35 lakh (Goretti).
Disgorgement: All 59 entities must jointly disgorge unlawful gains totaling ₹58.01 crore, plus 12% annual interest, for profits made during the manipulation window.

How the Scam Worked: The scheme unfolded in two phases:

Phase 1: Collusive trading by connected parties to artificially boost the stock price of Sadhna Broadcast, creating the illusion of genuine investor interest.
Phase 2: Aggressive promotion via YouTube channels—such as Moneywise, The Advisor, and ProfitYatra—spreading false claims (e.g., 5G licenses, Adani acquisition, major contracts) to attract retail investors.
Retail Investors Trapped: As the price peaked (₹33), promoters and operators dumped their shares, leaving retail investors with steep losses as the stock crashed to ₹2.75.
SEBI’s Message: The order underscores SEBI’s resolve to combat social media-driven market frauds and protect retail investors from manipulative online campaigns.

Source: The Hindu Business Line, Economic Times, Business Standard, The New Indian Express.

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