In another instance of an influencer misusing his power, Indian Youtuber Ravindra Balu Bharti has been exposed for running an illegal investment advisory business. The Securities and Exchange Board of India (SEBI) finally banned him and his company from the market after months of investigation.
SEBI found that Bharti broke security laws and exploited innocent investors, stripping them of their independent financial choices. He has now been asked to repay ₹9.5 crores, the money he made by misleading his 19 lakh subscribers on YouTube.
On top of that SEBI has imposed an additional 10 lakh fine on his company Ravindra Bharti Education Institute for their illegal activities. The Youtuber, along with his team abused his internet fame to lure inexperienced investors with promises of “high returns” while hiding the risks involved.
This raises concern about the power such internet personalities have over their followers. People should be cognizant of taking financial advice from anyone online.
SEBI’s action should be a wake-up call to all influencers who think they can get away with running such scams. Bharti now faces a ban from the securities market extending until April 4, 2025.
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