Sebi bars promoters, manipulators in Sadhna Broadcast pump and dump matter

The Securities and Exchange Board of India (Sebi) on Thursday imposed total penalties of around Rs 20 crore on 59 individuals for alleged manipulation and fraudulent practices in the shares of Sadhna Broadcast—renamed Crystal Business System as of 23 May.

The case pertains to a classic pump and dump scheme that misled investors via promotional videos on YouTube channels such as Moneywise, The Advisor, and ProfitYatra, operated by one Manish Mishra. These videos presented Sadhna Broadcast as a promising investment, timed to boost artificial market activity.