Baap of Chart fined ₹17.2 Crores by SEBI for Stock Market Frauds | Fake Fin-Fluencers | Scam | SEBI

Thank you @ADigitalBlogger !!
SEBI released an order today on the so-called Baap of Chart who was promising returns to the tune of 200% to 300% through his option trading strategies and stock market education courses.

In fact, according to the findings of SBEI, he is in a net loss of ₹ 2,89,60,828.02.SEBI investigated his 2 trading accounts one with Zerodha and the other with Angel One.

But we already exposed him about 3 months back and he made a video refuting us. This SEBI order on Mohammad Nasir validated our findings on him.

Precisely as per SEBI order Baap of Chart was luring people to buy his stock market education courses with promises of assured returns.

He was selling option trading strategies like Shaktiman Strategy, and 360 Degree Strategy with a promise that they had been backtested and used for a couple of days and people could make sure to shoot profits with them.

Also, he was taking live classes through Zoom video calls and even indulged in live trading which amounted to giving buy and sell tips to traders.

As he was not a registered investment advisor or research analyst with SEBI these activities were deemed illegal. Also on his Twitter handle, he claims to handle ₹30 crore funds which is a sham. He can not handle funds as the Baap of Chart is not a SEBI-registered market intermediary.

In a 45-page order, SEBI exposed his modus operandi. He was making money by selling courses not by trading. To date, he has collected the sum of ₹17,20,76,616.09 from gullible people who subscribed to his courses.

Baap of Chart was selling a lie of assured profits and returns on every platform he owes whether it is Twitter, WhatsApp, Facebook or YouTube where he is followed by lakhs of people.

Now as per SEBI order Baap of Chart has been asked to deposit all the 17 crores in an escrow account he collected from his clients and all of this fund will be refunded back to innocent people who bought his courses.

Also, he has been banned from every trading activity in the stock market till further orders. Thanks to SEBI who finally took a step against this fraud. Hope SEBI’s action against Baap of Chart will set a precedent for other scammers who loot people in the name of stock market education.

Видео Baap of Chart fined ₹17.2 Crores by SEBI for Stock Market Frauds | Fake Fin-Fluencers | Scam | SEBI канала Shantanu Sharma