Nasiruddin Ansari has been fined Rs 17.2 crore by market regulator SEBI.
Mohammad Nasiruddin Ansari, who promoted himself a stock market expert on social media, has been barred by market regulator SEBI for “misleading investors”. He has also been ordered to refund Rs 17.2 crore collected from his followers.
Here are five points on Nasiruddin Ansari:
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Ansari owns a firm called ‘Baap of Charts’ and gives recommendations about buying, selling or dealing in the securities market. He is the sole proprietor of the firm.
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According to SEBI, Mohammad Nasiruddin Ansari gave recommendations in the name of providing educational training related to the securities market. He also invited investors and other clients to enrol for various “educational courses” offered by him.
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The market regulator also said that Ansari sold 19 such courses relating to the securities market, including those that promised assures returns.
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The money collected from those looking for investors was deposited into the banks accounts of Ansari, Padamati and Golden Syndicate Ventures that have also been barred from the securities markets until further orders.
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The YouTube channel of Ansari has more than 4.43 lakh subscribers and more than 70 million views. He also operates a Telegram channel called Baap Of Chart Option Hedging, which has around 53,000 subscribers.
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