Arshad Warsi clarifies on SEBI allegedly banning him and wife Maria Goretti from Stock Market; calls his stock knowledge ‘zero’

Earlier today we had reported that SEBI (Securities and Exchange Board of India) had banned 45 people from participating in the securities market following a complaint on manipulation of share prices. As per a report by the PTI (Press Trust of India), these also include Arshad Warsi and his wife Maria Goretti. However, clarifying on the same, Arshad has taken to social media wherein he not only requested the media to not believe in hear-say but also added that he lacks knowledge in shares and stock market.

Taking to Twitter, Arshad Warsi responded to the allegations in a tweet saying, “Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took advice and invested in Sharda, and like many other, lost all our hard earned money.” Readers would be aware that after the news of SEBI taking action against the Bollywood star and his wife spread like wildfire, the actor faced several trolls and backlash on social media.

Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took advice and invested in Sharda, and like many other, lost all our hard earned money.
— Arshad Warsi (@ArshadWarsi) March 2, 2023

SEBI began the investigation after receiving complaints about some entities allegedly engaging in price manipulations and offloading of shares of Sharpline Broadcast and Sadhna Broadcast in order to entice potential investors. As per reports, the two entities were allegedly sharing misleading videos on their YouTube channels, recommending people to buy shares of their firms to make ‘extraordinary’ profits.

The SEBI authorities investigated the scenario from April to September 2022 and realized that there was a sharp increase in the price and volume of the shares belonging to the two companies from the period of April to mid-July 2022.

Talking about his professional commitments, Arshad Warsi was recently in news for signing up a new project with his Munnabhai co-star Sanjay Dutt and the two had taken to social media to announce about their new collaboration.

Also Read: Welcome 3: Sanjay Dutt and Arshad Warsi to join the cast of Akshay Kumar starrer: Report