The Securities and Exchange Board of India (SEBI) has banned Fininfluencer Asmita Jitesh Patel from the stock market for 5 years. Asmita Patel gives online stock market tips to people. She is accused of giving stock market tips without registration. Asmita is known as the 'She Wolf' and 'Options Queen' of the stock market. Along with this, Asmita also ran online courses, for which a hefty fee was charged from people. Many investors suffered losses in this. After the complaint of such investors, SEBI took action and seized Rs 54 crore out of the approximately Rs 104 crore earned by her. Also, she and her husband have been barred from working in the stock market. Now, the question arises who is Asmita Patel, 'She Wolf of Indian Stock Market'? Below is everything you need to know-
Who is Asmita Patel, she wolf of stock market?
Asmita Patel is a well-known fin-influencer. Asmita Patel Global School of Trading calls 'Asmita Patel, an expert analyst, a full-time trader, warm-hearted and a generous philanthropist has enriched lifestyles of many.' As per reports, Asmita Patel is based in Navi Mumbai. Asmita Patel's Instagram account has 289K followers, while on YouTube she has 526K subscribers.
What are the allegations against Asmita Patel?
Asmita also has a school named Asmita Patel Global School of Trading Private Limited. She is its founder. Her company tells about various trading courses. She sells online courses of the stock market. SEBI has taken action against this school of hers and five other institutions associated with it.
Investigation has revealed that Asmita has earned Rs 104 crore through online courses. She also earns through seminars and online platforms. She was earning in this along with her husband Jitesh Jethalal Patel.
Why did Asmita come under SEBI's scanner?
SEBI has recently banned people who give stock market tips to people without registration. Asmita was also doing the same. Many investors had lost crores of rupees due to her stock tips and options trading strategies. 42 people involved in her courses had complained that they had suffered losses due to this. After this, SEBI started the investigation.
Asmita's website (asmitapatel.com) has revealed that she has connections with Bollywood and other big personalities. According to the information available on the website, Pratik Gandhi, Anupam Kher, Kapil Dev, Manoj Muntashir, and founders and CEOs of many companies have come to her events.
Apart from this, she is also seen with other celebrities including Bollywood in many award ceremonies. These include Rajkummar Rao, Sonam Kapoor, Nusrat Bharucha, Rakul Preet Singh, Varun Dhawan, Sonu Sood, etc. In one photo, she is also seen with Amrita Fadnavis, wife of Maharashtra Chief Minister Devendra Fadnavis.