Avadhoot Sathe
Security and Exchange Board of India i.e. SEBI recently raided Avadhoot Seth’s Trading Academy at Karjat. Seized digital devices and trading data. Preparations for the raid were going on for several days. The Academy is accused of fake earn by manipulating Penny stock. Let us know who Avadhoot is Sathe and what is their main work.
Who is Avadhoot Sathe
Avadhoot is famous in the field of Finfluesrs as Sathe Marketing Guru and he used to give trading and investment tips on online platforms. Also, trading academy also runs. Thousands of retail investors have taken training at their Karjat Trading Academy. His YouTube channel, which has 9.36 lakh subscribers, is very popular. SEBI has recently taken a big action against him, which is part of keeping an eye on Finflunsers and those who call themselves trading gurus. This raid on Karjat Academy is one of the biggest actions of SEBI so far. With this, the rest of the finfluesrs will get a clear message that arbitrariness in the market will no longer be tolerated.
Why SEBI action took place?
Kamlesh Chandra Varshney, a senior SEBI officer, told in an event that he has raided a big trading guru. He told without taking the name of Sathe that this action is against those who mislead people in the name of “education”. Some trading academies and social media claim to teach trading without a license without a SEBI. These people promise guarantee returns. Live trading uses data. Penny promotes stocks in class, so that some operators can increase share prices.
SEBI took action
SEBI conducted a search operation in Karjat for two days. This action is against those “finfluesrs” and market teachers who lure people false profits without license. SEBI aim is that there should be fear in the market that someone is monitoring them. SEBI had received complaints that some academy, along with operators, are hypiring cheap shares. With this major action, SEBI also wants to warned the rest of the people that those who break the rules will not be released.