December 18, 2024
New Delhi, India
SEBI Bans YouTuber Ravindra Balu Bharti
The Securities and Exchange Board of India (SEBI) has taken stern action against YouTuber Ravindra Balu Bharti and his company, Ravindra Bharti Education Institute, for running an unregistered investment advisory business. Bharti and his institute have been ordered to repay ₹9.5 crore, the amount earned through illegal activities, and are barred from trading in the securities market until April 4, 2025.
Fraudulent Activities Unveiled
SEBI’s investigation revealed that Bharti, a social media influencer with 19 lakh subscribers across two YouTube channels, misused his popularity to lure naive investors. His company provided unregistered investment advice and trade recommendations, claiming to deliver “high returns” without disclosing associated risks. Many investors, enticed by the promises of quick profits, fell victim to deceptive marketing tactics.
The institute also sold multiple investment plans to single individuals, limiting their ability to make independent decisions. SEBI observed that Bharti’s company failed in its fiduciary duties and did not provide adequate financial disclosures, leaving investors vulnerable to significant losses.
Penalties and Prohibitions
In addition to the ₹9.5 crore repayment order, SEBI has imposed a ₹10 lakh penalty on Bharti and his associates. They are prohibited from offering any investment advisory services unless they register with the regulatory body.
Regulatory Impact
SEBI’s decisive action underscores the importance of adhering to securities laws and serves as a warning to unregistered entities engaging in fraudulent activities. For investors, this highlights the critical need to verify the credentials of advisory firms before making financial commitments.
Also Read: ITC Finalizes Record Date for Hotel Business Demerger
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
