Bollywood actor Arshad Warsi clarifies after SEBI banned him, says his knowledge about stocks is zero
The actor and his wife were accused of engaging in share price manipulation
Bollywood star Arshad Warsi and his wife Maria Goretti have landed in trouble. The Securities and Exchange Board of India (SEBI) has reportedly banned several entities, including the actor and his wife, 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, ‘Munna Bhai' actor made a profit of Rs 29.43 lakh, Maria Goretti earned a profit of Rs 37.56 lakh.
However, the actor 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 hardearned 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.