SEBI Orders Finfluencer to Repay Over ₹12 Crore Earned Unlawfully

SEBI Orders Finfluencer to Repay Over ₹12 Crore Earned Unlawfully/MINT

VoM News Desk | April 7, 2024 | 04:54 PM IST | Breaking News | Follow on Google News

SEBI Orders Finfluencer to Repay Over ₹12 Crore Earned Unlawfully

SEBI Orders Finfluencer to Repay Over ₹12 Crore Earned Unlawfully

The Securities and Exchange Board of India (SEBI) has directed Ravindra Balu Bharti, a financial influencer involved in stock market training, to repay a sum exceeding ₹12 crore earned unlawfully. Bharti, along with his wife, founded Ravindra Bharti Education Institute (RBEIPL) in 2016, offering education and training related to stock market trading.

SEBI’s order highlights Bharti’s abuse of investors’ confidence through false promises of guaranteed returns of up to 1000 percent. The regulator has issued an interim order against RBEIPL and its directors, instructing them to cease offering investment advisory services and refrain from engaging in any securities transactions.

The order mandates the impoundment of ₹12.03 crore, allegedly earned through the unregistered investment advisory business conducted by RBEIPL. SEBI underscores the importance of disclosure, transparency, and investor protection in maintaining market integrity, particularly amid the increasing public participation in India’s capital market.

Source Refrences: ANI

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