Dubbed as “she-wolf of the stock market” or “options queen”, mega popular YouTube finfluencer Asmita Jitesh Patel is facing action from the capital markets regulator, Securities and Exchange Board of India (SEBI) for alleged “ill gains”.

What is the SEBI Action?

SEBI has banned six entities, including Asmita Patel Global School and Patel, from the capital markets for alleged unregistered investment advisory services. The watchdog has impounded more than ₹53 crore from the parties, which were collected by them as fees course participants for various courses, as per a PTI report.

In an interim order-cum-show cause notice, SEBI on Ferbuary 6 has banned Asmita Patel Global School of Trading (APGSOT), Asmita Patel, Jitesh Jethalal Patel, King Traders, Gemini Enterprise and United Enterprises, from the capital markets, the report added.

Further, SEBI has also asked why the six named entities to explain why another ₹104.63 crore should not be collected as fees for various programmes and should not be seized as well, according to a Sebi order.

Who is Asmita Patel?

Dubbed as the “She-wolf of the Stock Market” or “Options Queen”, Asmita Patel is a finfluencer with 5.3 lakh followers on YouTube.

As per The Hindu Business Line, she leveraged her strong online presence to give “stock tips.” She has over 526,000 YouTube subscribers, 73,000 followers on Facebook, and 90,000 Instagram followers.

She further offered “educational courses” through her website – Options Multiplier (OM), Master’s in Price Action Trading (MPAT), and Let’s Make India Trade (LMIT).