Stock market regulator SEBI, in an ex-parte interim order-cum-show cause notice against finfluencer Avadhut Dinkar Sathe, Avadhut Sathe Trading Academy (ASTAPL), and Gouri Avadhut Sathe, ordered the impounding of Rs 546.16 crore in prima facie unlawful gains and directed that the amount be placed in fixed deposits within 15 days with a lien marked in favour of SEBI. Advertisement

SEBI alleged that Avadhut Sathe-promoted Avadhut Sathe Trading Academy circulated videos falsely advertising that course participants had earned supernormal profits. Even after receiving an administrative warning from SEBI, the regulator alleged that the academy continued to publish false and misleading claims.

SEBI observed that 65 per cent of the course participants, whose profit and loss were examined, 121 o

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