Last update:
‘X-Vulf of Stock Market’ Asmita Patel charged up to Rs 7 lakh per course. SEBI stopped him for unauthorized advice and misleading promises, ordered him to return Rs 53 crore
Asmita Patel has established herself with more than a decade of 17 years of business experience and teaching expertise. (Instagram/Asmitapatelofficial)
Famous financial influential Asmita PatelWho once styled herself as the queen of the stock market and came to be known as the “X-Vulf of the Stock Market” and “Options Queen”. ,
Following allegations of unauthorized investment advice and misleading investors with false promises, SEBI has stopped Patel and his company from working in the capital market.
SEBI has directed Asmita Patel, her company, and affiliated institutions to return Rs 53 crore to investors. The regulator found that the company had made misleading promises of the success of the stock market to woo individuals in buying its courses. SEBI understood the advice provided, including encouraging participants to take loans for business and encouraged to infection for full-time business, not only irresponsible, but also a direct in financial deficit suffering by many individuals Factor too.
A 129-page report of SEBI has accused Asmita Patel and her company of several serious violations. These allegations include unauthorized investment advisory services, misuse of misleading investors and their assets.
Jitesh Patel, the husband of Asmita Patel, has also been implicated in the case. The fees of the syllabus from some participants were deposited in bank accounts of companies such as Raja traders, Gemini enterprises and united enterprises, all were allegedly associated with Asmita Patel and her family.
Asmita Patel, director of the Navi Mumbai -based Asmita Patel Global School of Trading Private Limited, has earned recognition as a stock market expert. Patel said that it has directed and changed the lives of more than one lakh students worldwide. His company confirms that it teaches individuals to generate adequate income possible through stock market trading.
On 6 February, SEBI issued an interim show-causal notice and seized about Rs 54 crore in alleged illegal earnings from the school and its directors. The notice also demanded a clarification for Rs 104 crore in the course fees collected, which promised up to 300 percent returns under programs like LMIT and MPAT.
Although Patel had described his school as a means of earning extraordinary wealth, an investigation by SEBI revealed that Patel and his school made a profit of only Rs 12.28 lakh from business between 2019 and January 2024. For managing a portfolio for the management of the company’s claims, Rs. Handling funds worth Rs 140 crore and Rs 283 crore were also discovered to be false. SEBI investigation found that the total turnover of the school was only Rs 15.27 crore.
According to 42 complainants, they were sold various courses, including Masters in Price Action Trading (MPAT), Lats Make India Trade (LMIT), Options Multiplier (OM), Trend Follow Income System (TFIS), The Freedom Project (TFP) Included, expose Oonelife and trader within (UTW).
Born into a traditional Gujarati family, Asmita Patel has established herself with a 17 -year -old business experience and more than a decade teaching expertise. He has allegedly won several awards in financial education. His effect is clear in his online online: 5.26 lakh customers on his YouTube channel, 2.9 lakh followers on Instagram and 73,000 followers on Facebook.
According to Asmita Patel’s website www.asmitapatel.com, many notable figures have participated in the company’s programs. These include former cricketer Kapil Dev, prominent actor Pratik Gandhi of “Scam 1992”, actor Anupam Kher, founder and motivational speaker of Dynamic India Group Sonu Sharma and lyricist Manoj Muntashir.
Asmita Patel made allegations of Rs 7 lakh per course (except taxes). Inclusive of GST, this fee will be around 8.25 lakh rupees. According to SEBI’s order, the MPAT course fee was implemented more than Rs 7 lakh, with initial payment of Rs 1 lakh, and the remaining amount of Rs 6 lakhs payable in three installments.
