We lost all our hard earned money.' Arshad Warsi reacts on allegations of stock manipulation

Actor Arshad Warsi issued a clarification on Friday after he was barred from trading securities by market regulator Securities and Exchange Board of India (Sebi) in connection with a YouTube pump-and-dump scheme.

In a tweet, the 54-year-old actor said he and his wife Maria Goretti have no knowledge about stocks and invested in Sadhna Broadcast Limited after taking advice.“Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took advice and invested in Sharda [Sadhna], and like many others, lost all our hard earned money,” Arshad Warsi said. The Munna Bhai MBBS actor and his wife, former TV host Maria Goretti, allegedly made over Rs 66 lakh in profits and were named as volume creators in an order pertaining to a YouTube-run share pump-and-dump operation. The case involves channels run by a man named Manish Mishra, who was allegedly part of a larger nexus manipulating the share prices of Sadhna Broadcast Limited and Sharpline Broadcast.