?If There’s One Story To Read Today SEBI cracks down on entities using YouTube to manipulate stock prices “The company is going to be taken over by Adani group since the company has license to create OTT platforms, TV channels and news channels and Adani group would like to acquire all the licenses at one go.” “The current price of the share is INR 30 and it will become INR 240 within the next 3 months and INR 750 within the next one year.” “Big Mutual funds have already bought the stock.” These were some of the many blatantly false and misleading claims made by four YouTube channels that played a crucial role in pump and dump schemes involving the shares of Sadhna Broadcast Limited and Sharpline Broadcast Limited. Crores of rupees were spent on promoting these misleading YouTube videos and in the end, the YouTube creator behind the videos, the promoters of the company, and some of the shareholders sold their stake for over ₹55 crores in illegal profits, leaving retail investors who trusted the advice peddled in the videos to rot. India’s stock market regulator, SEBI has come down heavily on this scam, imposing strict interim directions, and also releasing detailed orders explaining how the scam was carried out, who are involved, how they are connected to each other and more. If you don’t have time to read the two 50-page orders, we have you covered with our summary of the same. [Read, 6 minutes] Click here to…
