Arshad Warsi finally reacts after SEBI bans him and wife from stock market

Popular actor of the Bollywood industry Arshad Warsi and his wife Maria Goretii has been banned from the stock market by the Securities and Exchange Board of India (SEBI), reports.

As per the reports, two companies; Sharpline Broadcast Ltd and Sadhna Broadcast Ltd were supposedly caught up in manipulating the share prices. An investigation was carried out over the matter, after which the SEBI found out that the companies were manipulating the shares by misleading the buyers through YouTube videos. They were attracting investors to put in money in the afore-mentioned companies.

The authorities has seized illegal amount of profit worth INR 54 crore made by the companies through the YouTube scam.

Reportedly, Arshad and Maria have made a profit from this scam of around 29.43 lakh and 37 lakh correspondingly.

After being accused in the matter, the actor finally broke hi silence and came forward to respond to such allegations.

He tweeted: “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 other, lost all our hard earned money.”

Meanwhile, there are rumours that Arshad Warsi will be starring in Welcome 3. According to sources, Sanjay Dutt will also be a part of the upcoming sequel, reports Koimoi.