Actor Arshad Warsi and his wife, Maria Goretti, have been banned for one year by the Securities and Exchange Board of India (SEBI). According to SEBI, the two of them, besides Arshad’s brother and manager, artificially raised the price of shares of Sadhna Broadcast before selling them. A total of 64 entities were found to be involved in the pump-and-dump scheme.
SEBI has levied a fine of Rs. 5 lakh on each of them. It has also ordered Arshad and Maria to return Rs. 1.05 crore of illegal gains made by them.
