The capital markets regulator Sebi has issued a fresh show cause notice to Arshad Warsi, his wife Maria Goretti, brother Iqbal Warsi, and manager Aahuti Mistry, along with other entities, in relation to alleged illegitimate gains amounting to ₹59.77 crore through a pump and dump scheme carried out by Sadhna Broadcast on YouTube channels.
Sebi has submitted WhatsApp chats as evidence, implicating the individuals in executing the scheme. Arshad Warsi and his wife had received interim relief from the Securities Appellate Tribunal last year, temporarily setting aside Sebi’s order debarring them from the securities market and directing the completion of the probe within six months.
The modus operandi involved trading thinly-traded stocks of SBL before disseminating false information through videos.
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