SEBI order against a YouTube F&O tipster

There are 1000s of YouTube channels where people are posing as advisors to provide stock & F&O tips. SEBI recently passed an order against the guy who runs this channel.

So, this fellow named Pradeep was tunning this channel and was posing as an investment advisor while he wasn’t registered. He was guaranteeing profits.

image

“no loss daily kamao (earn) Intrady strategy Earn 4000/day”
I give formula earn monthly1015%
Yeh level tuta tho bhayankar toofan

A person who fell for this and lost Rs.3,35,000 complained to SEBI. Upon investigation, SEBI has directed the banks and depositories to block his bank accounts and demat accounts. From 2018, since he started the channel there was a total credit of Rs. 1,41,36,318.00 in his account. It’s not yet sure if all this was from selling tips but would be fair to assume a good chunk of it would be.

14 Likes

At some level, you have to admire(?) the perseverance of this guy. He is still making videos.

6 Likes

I think the most interesting part of the order is relating to the immunity provided by disclaimers present in the videos -

  1. From above, it is observed that the entity has put out some sort of disclaimer on market risk, to consult a professional or make due diligence before making investments. It is observed that such disclosures are shown only for a few milliseconds at the beginning of the video. As the disclaimer is available only for few milliseconds, it is not possible for anybody to read/understand even a sentence of the disclaimer.

  2. Though there is some sought of disclaimer given in the videos, however it is known fact that investments in the securities market are subject to market risk and no guarantee and assurance of any kind is possible. Therefore, by giving these assurances or even so by making such representations in the videos and messages, M/s Profit Guruji has actively concealed the fact of guarantee of any sought of return is not possible in the securities market to lure the gullible public to invest their money.

  3. Since no assurance or guarantee of any sought of return or profit is possible in the securities market, therefore by making such claims and presentations knowing that the same is not true, realistic and correct, is grossly misleading the public.

  4. Further even though the disclaimer is provided, in any event the same cannot be considered as defense where completely contradictory and misleading claim of no loss/assured return/target return in absolute amount, percentage return, daily and monthly return, no loss, only profit, etc. is given in the post and messages, concealing the facts.

Most Youtubers in this space have a disclaimer in their videos regarding the content being only for educational purposes and shouldn’t be considered investment advice. But this order states that the disclaimer can’t be a defense if any kind of assured returns are promised.

8 Likes

Is it just me who finds it disconcerting that an order from SEBI repeatedly misspells “sort” as “sought”? Assuming you copy-pasted these paragraphs from the order, that is?

2 Likes

WOW, this guys doesn’t have too many followers and has earned over 1 Cr in 2-3 years. Imagine people with millions followers !!. some tipsters have over 1-2 lakhs subscribers on telegram etc

2 Likes

Normally these crooks close their bank accounts frequently and open fresh accounts in their family members’ names, that too in other banks. total amount will be much more.

3 Likes

Yes, that guy it still active on youtube making videos. So even banning him from capital markets is not gonna make him stop as there are so many loophole. Irony is there are so many easy targets out there who will still subscribe these people.People want shortcuts without investing themselves for education/learning. Sebi should have slapped huge penalty which i don’t see !

1 Like

Yes. There are too many so called advisors and in the end of an episode the person becomes mother theresa and says her intention is to spread knowledge. All she is doing is for money
There are guys who claim they are 12 grade fail and still give trade advise
The unfortunate part is the comment section where people endorse them even though they are wrong

2 Likes

Not always true
In so many channels you really get to learn so much

Would you call those losers as innocent people? They had thousands of money to put on a stake but not a single paisa to invest in learning and understanding that only a few savings schemes give a guaranteed minimum return and that stock market and related schemes such as mutual funds even if they are considered “good” can result in a 0 or even a negative balance?

I do not support the people who loot others, obviously. But those who have money without brains would lose it simply.

1 Like

hey guys is live chart streaming on youtube is legal?

1 Like

This post was flagged by the community and is temporarily hidden.

Here comes the channel owner in disguise

1 Like