1. Asmita Patel – “Options Queen” / “She-Wolf of the Stock Market” 

• What wrong & duration: From 2019 to March 2024 (~5 years), ran flashy training programs (Master’s in Price Action Trading (MPAT), Let’s Make India Trade (LMIT), and Options Multiplier (OM) and Telegram/Zoom sessions disguised as “education.” She made bold promises of 100% returns in options trading, pressured people to sell mutual funds, borrow money, and open new accounts to follow her strategy.
• Why people got trapped: Her Instagram & YouTube image as the “Options Queen,” luxury lifestyle displays, motivational talks, and titles like She-Wolf of the Stock Market built trust and glamour, making common traders believe she had a “secret formula.”
• Public loss: Over ₹158 crore (₹53.67 cr impounded + ₹104.6 cr collected as course fees).
• SEBI penalty: Banned from markets (Feb 2025), ₹53.67 cr impounded, proceedings for ₹104.6 cr recovery, ordered to stop advisory activity & delete content.

2. Ravindra Balu Bharti & Ravindra Bharti Education Institute 

• What wrong & duration: From 2016 (~8 years), gave direct buy/sell calls via YouTube, Telegram, and “classes” while claiming it was just education. He posed as a teacher but actually acted like a tipster, claimed we can generate returns from 25-1000%.
• Why people got trapped: His branding as an “educator,” low-cost classes, and huge YouTube following gave him credibility. Small investors thought they were learning, but were actually being guided into trades.
• Public loss: Around ₹12 crore collected as fees.
• SEBI penalty: Banned from securities markets till April 2025, ordered to deposit ₹12 crore in escrow.

3. Mohammad Nasiruddin Ansari – “Baap of Chart”

• What wrong & duration: Till 2023, used Telegram & YouTube to sell memberships where he gave positional stock & intraday calls while advertising it as “chart learning.” He promised followers that his chart patterns guaranteed profits.
• Why people got trapped: His nickname “Baap of Chart” and flashy Telegram groups made him look like a charting genius. People trusted his confident tone and past cherry-picked success stories.
• Public loss: Around ₹17.21 crore collected.
• SEBI penalty: Ordered to deposit full amount in escrow; banned along with six associates from market activity.

4. Anilkumar Talpada – Ideal Equity

• What wrong & duration: In 2024 (~1 year), operated an advisory business Ideal Equity, charging investors for daily buy/sell calls without any SEBI registration. He used WhatsApp groups and cold calls to lure retail traders.
• Why people got trapped: His company name Ideal Equity sounded trustworthy, and he presented himself as a financial mentor promising consistent monthly profits. The low entry cost pulled in many small traders.
• Public loss: Around ₹14.66 lakh collected.
• SEBI penalty: ₹1 lakh fine + refund of ₹14.66 lakh to investors.

📊 Summary at a Glance

✅ This shows how thousands of traders and investors suffered losses by following unregistered advisors, and how SEBI acted strongly to protect market participants.

Sooner Or Later, they are Penalized but we lose our Hard-earned Money in some cases we are able to recover and in some we are not, so… 

📝 Key Learnings for Investors & Traders

❌ Don’ts

• Don’t be fooled by glamour → Luxury lifestyle, big cars, foreign trips on Instagram/YouTube are often used only to trap investors.
• Don’t fall for guaranteed returns → No one can promise fixed profits in stock/options trading.
• Don’t trust just because ads everywhere → Just because you see their ads repeatedly on social media or Google doesn’t mean you can trust

✅ Do’s

• Check SEBI registration → Visit SEBI’s official website Visit SEBI’s official website and confirm if the person/entity is a Registered Investment Advisor (RIA) or Research Analyst (RA).
• Check for disclaimers → SEBI-registered advisors must clearly state “No guaranteed returns”. If someone promises profits, they are violating the law.
• Check since when they are registered → Longer registration history = higher credibility.
• Check investor complaints → Search their name on SEBI SCORES portal or Google to see if complaints exist against them. 

Disclaimer 

“Information compiled from publicly available sources. We don’t claim exact authenticity of data.”