Asmita Patel Global School of TradingYouTuber Asmita Patel’s mission was to “make India trade”.
The wildly popular financial influencer called herself the “She-Wolf of the stock market” – her take on the Hollywood film The Wolf of Wall Street. At last count, she had clocked upwards of half a million subscribers on YouTube and hundreds of thousands on Instagram. Fees for her stock trading courses ran into thousands of rupees.
Last month, the market regulator Securities and Exchange Board of India (Sebi) put a spanner in the works. It barred her and six others from trading, alleging she was selling illegal stock tips disguised as investor education and making millions of rupees in the bargain.
The regulator’s crackdown on Patel is its latest attempt to tighten the noose around social media influencers offering quick money schemes and…
