SEBI Bans Baap of Chart From securities market; orders to deposit Rs 17.2 cr

Baap of Chart Fined and Banned! SEBI Orders Influencer Mohammad Nasiruddin Ansari to Refund Over Rs 17 Crore in Fee, Bans Him From Securities Market

The Securities and Exchange Board of India stated in an order dated October 25 that “Noticee Nos. 1 (Mohammad Nasiruddin Ansari), 2 (Rahul Rao Padamati), and 5 (Golden Syndicate Ventures Pvt. Ltd.) are restrained from buying, selling, or dealing in securities, either directly or indirectly, in any manner whatsoever until further orders.”

BELOW ARE THE RECORDS OF PROFIT MADE BY BAAP OF CHART BY SELLING PAID COURSES

FAMOUS TWITTER HANDLE REACTED TO THIS NEWS BY SAYING KARMA ALWAYS RETURNS
Securities and Exchange Board of India (SEBI) on Wednesday barred Mohammad Nasiruddin Ansari from the securities market and ordered him to pay Rs 17.2 crore gained unlawfully from carrying out investment advisory activities which were both unregistered and fraudulent.
Ansari runs a profile on social media platform X (formerly Twitter) by the name of ‘Baap of Chart’, where he used to offer buy/sell recommendations in the stock market in the garb of providing educational training related to the securities market.
“Noticees shall cease and desist from acting as or holding themselves out to be investment advisors, whether using ‘Baap of Chart’ or otherwise. They shall cease to solicit or undertake such activity or any other unregistered or fraudulent activity in the securities market, directly or indirectly, in any manner whatsoever,” the SEBI order said.
The regulator said that it observed that Ansari promoted himself as a stock market expert on various social media platforms and lured investors to enroll in various ‘educational courses’ offered by him.