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Meet 'She-Wolf Of Stock Market'—Finfluencer Now Banned By SEBI Over ‘Unregistered’ Investment Advice On Telegram, Instagram; Her Courses Cost...
SEBI Ban Financial Influencer: The Securities and Exchange Board of India (SEBI) has barred YouTuber and financial influencer Asmita Jitesh Patel and her trading school from participating in the capital markets for allegedly providing unregistered investment advice.
The ban covers six entities, including Asmita Patel Global School of Trading (APGSOT), Asmita Patel, Jitesh Jethalal Patel, King Traders, Gemini Enterprise, and United Enterprises, for offering unauthorized investment advisory services. Moreover, the SEBI found that buy/sell recommendations for specific securities were shared through Telegram channels owned by APGSOT. Many investors who followed her "stock tips" on Instagram and Telegram reportedly suffered significant financial losses.
Director of AGSTPL
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Asmita Jitesh Patel is the director of Asmita Patel Global School of Trading Pvt. Ltd. (AGSTPL), based in Navi Mumbai, Maharashtra. Ms Patel's husband, Jitesh Patel, is also a director of AGSTPL.
Asmita Patel's Trading And Teaching Experience
She comes from a traditional Gujarati family and has 17 years of trading experience, along with over a decade of teaching, earning multiple awards for her contributions to financial education.
Self-Proclaimed ‘She-Wolf of Stock Market’
Asmita Jitesh Patel brands herself as the ‘She Wolf of the Stock Market’ and the ‘Options Queen,’ claiming to have mentored over one lakh students and investors globally.
Asmita Patel's Social Media Followers
She maintains a strong online presence with 5.26 lakh YouTube subscribers, 2.9 lakh Instagram followers, 73,000 Facebook followers, 1,900 LinkedIn followers, and 4,200 followers on Twitter (X).
SEBI Allegations
SEBI found that her firm followed a regular practice of routing funds through various entities and allegedly amassed Rs 104 crore through "ill-gotten means".
Fraudulent Trading Scheme And Courses
SEBI claims that Patel and her firm lured students into trading specific stocks and directed them to open trading accounts with ABC Ltd. The 42 complainants said that they were sold different courses — Master’s in Price Action Trading (MPAT), Let’s Make India Trade (LMIT), Options Multiplier (OM), Trend Following Income System (TFIS), The Freedom Project (TFP), OneLife, Unleash The Trader Within (UTW).
Asmita Patel's Course Fees:
Asmita Jitesh Patel, her firm, and associated entities have been ordered to return over Rs 53 crore collected as course fees, with some courses priced as high as Rs 8.25 lakh (including GST). (Image Credit: @asmitapatelofficial/Instagram)
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