Sebi Ban with fines ‘ Mohammad Ansari -youtuber Baap of Chart’ Rs 17.2 Cr
Mumbai: Mohammad Nasiruddin Ansari has been barred by the Securities and Exchange Board of India (Sebi) from the securities market and instructed to deposit ₹17.20 crore in illicit gains that he claims were acquired through fees from his “educational courses” on the markets. Ansari has a profile named “Baap of Chart” (BoC) on a number of social media sites, including X (previously Twitter), where he makes buy and sell suggestions.
Ansari was allegedly operating as an investment adviser without being registered with the regulator.
According to the the Securities and Exchange Board of India (Sebi) as regulator, it has noticed that Ansari is marketing himself as an authority on the stock market on various social media platforms, enticing potential investors to enrol in his “educational courses,” and persuading them to make investments in the securities market by offering them the chance to profit almost certainly if the advice is followed.
Ansari is the only owner of BoC, which is a proprietorship. it was noted that Ansari had posted his “educational courses” on apps, where he was charging investors to access his “classes” and collecting fees for enrollment in the courses.
Moreover that, it is discovered that Ansari advises clients in private groups on what to buy and sell. According to Sebi, it was noted that the funds received for “educational courses” were credited to Nasir and BoC’s bank accounts.