Who is Maria Goretti Warsi, MTV VJ and wife of Arshad Warsi banned from stock market by SEBI?
Arshad Warsi, his wife Maria Goretti, and dozens of others were banned from the stock market by SEBI over an alleged YouTube scam that was reportedly manipulating the stock market.
The Security and Exchange Bureau of India (SEBI), which is the regulatory body for the stock market in the country, decided to ban popular Bollywood actor Arshad Warsi and his wife Maria Goretti Warsi along with 43 others from the stock market entirely.
SEBI decided to ban the Munna Bhai MBBS actor and his wife Maria after investigating the allegations of share price manipulation by certain entities, namely Sharpline Broadcast Ltd and Sadhna Broadcast Ltd, which were found to be manipulating the stock prices via misleading YouTube videos.
The company's promoters who have been restrained from the securities market for their involvement are - Shreya Gupta, Gaurav Gupta, Saurabh Gupta, Pooja Aggarwal, and Varun Media. Arshad Warsi and Maria Goretti, along with 43 others, were found to be involved in the YouTube stock market scam.
Who is Maria Goretti Warsi?
Maria Goretti Warsi is the wife of Bollywood actor Arshad Warsi and was an MTV VJ before her marriage to the actor. Goretti used to host the show Do It Sweet on NDTV Good Times channel, and also made a special appearance in the movie Salaam Namaste with her son Zeke Warsi.
Maria Goretti met Arshad Warsi in 1991 and married the actor in 1999. Goretti, along with her husband, has now been banned from the stock market for the YouTube scam which allegedly manipulated the market and helped the accused people make crores of profit.
What is stock market YouTube scam?
SEBI banned as many as 45 people from the stock market after they noted that YouTube videos were being floated by certain entities which were manipulating the stock market. The entities had reportedly posted misleading videos on YouTube, investors buy shares of Sadhna Broadcast Ltd and Sharpline Broadcast Ltd for massive profits.
These YouTube videos peddled false and misleading news to recommend that investors should buy the Sadhna stock for extraordinary profits, SEBI said in its interim order.
Through the misleading videos posted on YouTube, the entities reportedly made a profit of over Rs 54 crore, while Arshad Warsi has made a profit of Rs 29.43 lakh and his wife has earned a profit of Rs 37.56 lakh by acting as the promoter of the companies pushing the videos.
(With inputs from agencies)