Arshad Warsi said about the stock market, “We don’t know anything, our money has also sunk”

Bollywood star Arshad Warsi has clarified by tweeting after SEBI banned him from the stock market. On Thursday, the stock market regulator Securities and Exchange Board of India banned the actor and his wife Maria Goretti from trading in the securities market. Arshad Warsi is known for acting in films like Munna Bhai MBBS, Golmaal and Ishqiya.

Why was SEBI banned?

On Thursday, SEBI banned Arshad-Maria and 45 other entities from the securities market. SEBI has accused them of manipulating the prices of shares and uploading misleading videos on YouTube channel. YouTuber Manish Mishra and Sadhna Broadcast promoters Shreya Gupta, Gaurav Gupta, Saurabh Gupta, Pooja Aggarwal and Varun Media have also been part of the branded units.

In the interim order, it was said that the actor along with his wife has made a profit of Rs 66.99 lakh through his investment. They are classified as volume creators by the capital markets regulator. Where Warsi earned Rs 29.43 lakh. Whereas, Goretti has earned Rs 37.56 lakh.

What did the actor say in the tweet?

Narrating his side of the story, 54-year-old Warsi said that he and his wife do not understand how the stock market works as they have zero knowledge about it. In his tweet, Warsi said that he had consulted the promoters before investing and he lost his hard-earned money.

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 others, lost all our hard earned money.

— Arshad Warsi (@ArshadWarsi) March 2, 2023

The actor said in a tweet that please don’t believe everything you read in the news. He said that Maria and my knowledge about shares is zero and we took advice like many others and invested in Saradha and lost all our hard earned money.