The Securities and Exchange Board of India (SEBI) has impounded ₹53.67 crore from the Global School of Trading, run by stock market influencer Asmita Patel.
SEBI has also asked why another ₹104.6 crore collected as fees for various programs should not be seized.
Patel has over 520,000 subscribers on YouTube and was accused of providing unauthorized investment advice disguised as training programs.
The investigation was initiated after complaints from 42 students.
SEBI has tightened regulations on financial influencers, or “influencers,” to prevent unauthorized investment advice.
