SEBI Orders Finfluencer to Return Over ₹12 Crore for Unlawful Gains

According to a report from ANI, the Securities and Exchange Board of India (SEBI) has instructed a financial influencer, also known as a finfluencer, to repay more than ₹12 crore that was earned unlawfully.

The individual in question, Ravindra Balu Bharti, has been directed to transfer the funds to an Escrow Account set up in a nationalized bank. This account will hold the funds under SEBI’s control, and they cannot be accessed without SEBI’s permission.

SEBI’s order mentions that promising guaranteed returns of up to 1000 percent is a clear misuse of investors’ trust in the securities market. Investors were attracted with false promises of returns ranging from 25 to 1000 percent.

Ravindra Bharti, along with his wife Shubhangi Bharti, founded Ravindra Bharti Education Institute (RBEIPL) in 2016. The institute offers education and training related to stock market trading.

Bharti operates two YouTube channels with significant subscriber bases. SEBI’s order highlights the exploitation of investors’ trust through promises of unrealistic returns.

SEBI has taken action against RBEIPL, Ravindra Bharti, his wife, and current directors Rahul Ananta Gosavi and Dhanashri Chandrakant Gosavi. They are instructed to stop offering investment advisory services and engaging in securities transactions.

SEBI has ordered the confiscation of ₹12.03 crore, which is the alleged unlawful gain made through the unregistered investment advisory business of RBEIPL.

The regulator emphasized its commitment to protecting investors’ interests and ensuring transparency in the capital market. Disclosure and transparency are essential for maintaining market integrity and sustaining investors’ confidence.