Although the World Wide Web helped create a global village, the pandemic and its aftermath pushed us into an era where online scams multiplied and continue to do so.

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Although the World Wide Web helped create a global village, the pandemic and its aftermath pushed us into an era where online scams multiplied and continue to do so. One of the most recent additions to this new phenomena are 'pump and dump schemes'. A pump-and-dump scheme involves 'pumping up' the share price by spreading misinformation about it, after which certain parties 'dump' the shares by making profits, leading to others making losses. SEBI has said these are fraudulent trade practices. The most prominent case which made them sit up and take notice involved actor Arshad Warsi, his wife Maria Goretti and some others, who allegedly pumped up share prices of Sadhna Broadcast and Sharpline Broadcast by deceptive YouTube videos.

The videos in question had been uploaded in July 2022 on two YouTube channels, The Advisor and Moneywise, which were aimed at luring in investors. According to the promotional videos several claims were made, such as the company shall be moving from TV production to making movies and that a prominent American company had signed a contract worth 1,100 crore INR to make some devotional movies.

After being barred from trading securities by...

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