The market regulator has alleged that Ansari was providing trading recommendations under the guise of educational courses for which he even charged a huge amount of fee. It is also alleged that he was enticing customers/investors to purchase his courses/workshops through misleading or false information.
Ansari or better known as Mohammed Nasiruddin Ansari, is an Indian YouTuber under the Finance genre. He has a successful YouTube channel named- “Baap of Charts“. Indian Market Regulator SEBI has banned Ansari from the Security Market. This was done on 25th of October 2023 by SEBI, where they realized a letter against Ansari asking him to refrain from working in the market and also strictly ordered him to deposit the 17.2 crores profit he made from the market.
Ansari had 5 lakh followers on YouTube and more than 1 million fan base via Instagram. He used to let out trading information and predictions via his YouTube channel. However, SEBI claims that Ansari used to take up private workshops fooling people, ultimately making them lose their hard earned money due to his poor skills. SEBI also claims that even Ansari had lost 2 crore of his profits in trading, yet he confidently cheated and manipulated people into buying his course.
The fault lies not in people like Ansari but us, ourselves. We must realize that we ourselves are responsible for our financial goals and aspirations. We must safeguard ourselves from such fraudulences at all cost.