Zee Business cheated people
A quick summary of the Sebi interim order on Zee business 'experts' these experts would give stock recommendations and make money with the stock move. Never ever buy stocks based on someone recommending them on TV.
1) Guest experts - Kiran Jadhav (Kiran ka Kamaal), Simi Bhaumik, Himanshu Gupta (Hitman Himanshu) and Mudit Goyal (Mudit ke Munafe) on Zee Business would give advance info to certain parties before making stock recommendations. In one case it was as obvious as the spouse using such info to trade.
2) The connected parties would take positions and benefit from the stock moves happening after the recommendations were made on TV.
3) Around Rs 7.41 crore was made by them in this manner, at the expense of the public. Sebi impounded this amount and stopped the noticees from dealing in securities.
There needs to be a wider cleanup of this business model with so-called tv experts exploiting retail investors. Advice is dished out hourly like samosas, keeping the audience entertained and ever-hopeful of making money. In practice, the audience is preyed upon.
Shame on every channel that does that.
Zee business editors must also face the law
https://www.sebi.gov.in/enforcement/orders/feb-2024/in-the-matter-of-trading-based-on-the-stock-recommendations-given-by-guest-experts-appearing-on-zee-business-channel_81278.html more
1) Guest experts - Kiran Jadhav (Kiran ka Kamaal), Simi Bhaumik, Himanshu Gupta (Hitman Himanshu) and Mudit Goyal (Mudit ke Munafe) on Zee Business would give advance info to certain parties before making stock recommendations. In one case it was as obvious as the spouse using such info to trade.
2) The connected parties would take positions and benefit from the stock moves happening after the recommendations were made on TV.
3) Around Rs 7.41 crore was made by them in this manner, at the expense of the public. Sebi impounded this amount and stopped the noticees from dealing in securities.
There needs to be a wider cleanup of this business model with so-called tv experts exploiting retail investors. Advice is dished out hourly like samosas, keeping the audience entertained and ever-hopeful of making money. In practice, the audience is preyed upon.
Shame on every channel that does that.
Zee business editors must also face the law
https://www.sebi.gov.in/enforcement/orders/feb-2024/in-the-matter-of-trading-based-on-the-stock-recommendations-given-by-guest-experts-appearing-on-zee-business-channel_81278.html more
Viewed by 539
Investors loose a lot of money due to these recommendations and its a big crime and they should face strict legal action . more
Feb 10
I condemned this fraud and with 'Together Against Corruption'. There must be amendment in Bharatiya Nagarik Suraksha Sanhita, 2023 and such acts should be added as criminal offence and punishable with jail. more
Feb 10
Such black sheep should be jailed also. Investigation must be done on the activities of all such experts weather on TV channels or off line. Lacs of such experts are befooling and ruining the public. I keep on getting telephone calls/sms from such experts daily to take positions on certain stocks/nifty and ask for a membership fee of Rs.5000-10000. more
Feb 10
