Tag Archives: stock market fraud

In a significant crackdown on stock market malpractice, the Securities and Exchange Board of India (SEBI) has barred Bollywood actor Arshad Warsi, his wife Maria Goretti, and 57 others from trading in the securities market for periods ranging from one to five years. The couple has also been fined ₹5 lakh each for their involvement in a stock manipulation case involving Sadhna Broadcast, now known as Crystal Business System Ltd.

Former Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch, along with five others, has approached the Bombay High Court seeking to quash a special court’s order directing the registration of an FIR against them for alleged stock market fraud.

The Securities and Exchange Board of India (SEBI) has announced that it will challenge a special court's directive to file a First Information Report (FIR) against its former chairperson Madhabi Puri Buch and five other officials in connection with alleged stock market fraud and regulatory lapses. The market regulator contends that the court acted on a "frivolous" petition and did not provide SEBI an opportunity to present its case.

Zerodha CEO Nithin Kamath has voiced concerns over the growing menace of financial frauds after a Bengaluru-based techie lost ₹91 lakh in a stock market scam. The alarming incident is a stark reminder of the increasing prevalence of cybercrimes, with over ₹11,000 crore reportedly lost to scams in the past nine months alone.