Arshad Warsi clarifies after SEBI ban, says his knowledge about stocks is zero
Arshad Warsi
Hours after he was banned by the Securities and Exchange Board of India (SEBI), Indian actor Arshad Warsi took to Twitter to deny charges levied on him and stated he and his wife, TV host Maria Goretti, had no knowledge of stocks. Earlier on Thursday, SEBI banned several entities, including Warsi, his wife Maria Goretti, YouTuber Manish Mishra and promoters of Sadhna Broadcast - Shreya Gupta, Gaurav Gupta, Saurabh Gupta, Pooja Aggarwal and Varun Media - from the securities market in a case related to uploading misleading videos on YouTube channels recommending investors to buy the company's shares.
According to the interim order, Arshad Warsi made a profit of Rs 2.94 million and Maria Goretti earned a profit of Rs 3.75 million.
Hours later, Arshad Warsi took to Twitter and requested everyone not to believe in hearsay. He also mentioned that he and his wife lack knowledge of the stock market.
"Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took advice and invested in Sharda, and like many others, lost all our hard earned money," he tweeted.
The investigation began after SEBI received complaints alleging that certain entities were engaging in price manipulation and offloading shares of Sadhna Broadcast Ltd and Sharpline Broadcast Ltd.
