SEBI Bans YouTuber Asmita Patel and Five Entities for Unregistered Investment Advisory Services

#Financial Fraud#Stock Market#Sebi#Stock Markets#Securities Regulation#Investment Advisory

1326+ Words Refined into 5 Facts by AI • 2 sources • 7h ago

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SEBI has banned Asmita Patel and five entities for unregistered advisory services.
Patel claims to have mentored over a lakh students worldwide.
Students were lured into trading specific stocks with misleading recommendations.
SEBI's investigation spanned from August 2019 to October 2023.
Other banned entities include Jitesh Jethalal Patel and King Traders.

The sources of this summary are listed below. Click to view.

Related Update: 5 hours later

SEBI Orders Return of ₹53 Crore from Banned Entities

942+ Words Refined into 7 Facts by AI • 1 source • 1h ago

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SEBI requires banned entities to return over Rs 53 crore
Entities misled individuals into enrolling in trading courses
Fees collected through various firms, including King Traders and Gemini Enterprise
Entities directed participants to pay course fees into their accounts
SEBI's findings are preliminary, allowing defense against allegations
Entities are jointly liable for the impounded amount
SEBI emphasized that findings are not a final verdict

The sources of this update are listed below. Click to view.