Asmita Jitesh Patel, a finfluencer and YouTube content creator, was banned by the Securities and Exchange Board of India or SEBI. The regulatory agency claimed that Patel amassed a sum of Rs 104 crore through ill-gotten means.

In this, the market watchdog has impounded an amount of Rs 54 crore in the aforementioned amount.

In addition, SEBI also barred Patel and five others from trading in the security markets.

Who is Asmita Patel?

Patel is a known face of the ever-growing and mushrooming financial influencer paradigm. She is the founder of Asmita Patel Global School of Trading, which is at the centre of the case in point here.

The school and Patel have been accused of fostering risky investment and promoting unreasonable schemes and tips to invest in volatile avenues.

She Wolf Who Created A Profile

Patel postured herself as the 'She Wolf of Stock Markets. She has also been called the Options Queen.

Patel has created a tangible presence in the sector, by attaining a great amount of visibility. She has also held chartered investment initiatives like Traders Premier League and Freedom Project.

To make her case and to make her credibility stronger, Patel also conducted events, that drew numbers.

Patel claims to have over 18 years of experience in the sector. The company company she founded is based out of Navi Mumbai's Seawoods.

When we look at the apparent influence Patel appear to have, she has sizeable presence on social media platform.

She has a YouTube channel with over 5 lakh subscribers and over 500 videos. Here, there are videos talking about stock market and investment tips.

On Instagram, Patel's official account has over 2 lakh followers and has shared over 1,000 well-polished posts on the photo-sharing platform.

Patel, also has presence on Facebook, which has a greater population of the older generation, who may not be savvy with investment and virtual transactions. She has over 70,000 followers here.

When we come to Patel's X account, it appears to either have been taken down or deleted, as the link leading to it, does not show an active account. Patel also has an account on LinkedIn.

SEBI has accused Patel of selling lofty dreams of high returns, using her tips that were not entirely reliable.

In addition, the regulator also said that Patel and her school also encouraged investors to borrow high amounts, break the fiscal safety net, and even quit their day jobs to aim further in the world of investment.