Nasiruddin Ansari is a popular Indian ‘finfluencer’ and owner of the infamous “Baap of Chart” firm who allegedly misled investors, find out what happened to him below along with his net worth and fees
Nasiruddin allegedly misled thousands of investors in the guise of ‘educating’ them about hwo to invest in markets.
Who is finfluencer Nasiruddin Ansari owner of Baap of Chart banned by SEBI, biography, fees, net worth
Person Who made net ₹3cr trading loss in last 2.5 years himself,
Earned ₹17cr as a course fee on how to make trading profit in 5 minutes🙈😂.SEBI Ban on popular finfluencer Youtuber #Baap_of_Chart – Mohammad Nasiruddin Ansari..#SEBI #Finance #StockMarket @timesofindia pic.twitter.com/33WyAe4WDe
— Ashray Patil (@patilashray031) October 26, 2023
#SEBI has cracked down on Financial influencer, Mohammad Nasiruddin Ansari admin of "Baap of Chart" youtube Channel.
He collected Rs. 17 Crore during the period January 2021 – July 2023 by luring clients and influencing them to deal in securities, while Nasir himself made a… pic.twitter.com/axMx414MFs
— Resonant News🌍 (@Resonant_News) October 26, 2023
Securities and Exchange Board of India (SEBI), which regulates the markets have reportedly ordered Nasiruddin to pay back Rs 17 cr.
SEBI bars Mohammad Nasiruddin Ansari
Markets regulator SEBI, on Wednesday, October 25, decided to bar Mohammad Nasiruddin Ansari, from buying, selling, or dealing in the securities market. Nasiruddin is a so-called ‘finfluencers’ – Internet influencers who provide financial advice and recommendations to ordinary investors, and owns a firm called ‘Baap of Chart’.
According to SEBI, Ansari was allegedly giving stock recommendations on the pretext of providing educational training about the securities market. Ansari allegedly gave the recommendations through social media platforms and promised guaranteed returns. Aside from barring him for all market-related activities, SEBI has also ordered Ansari to pay back Rs 17.2 crore which he had earned by allegedly “misleading investors and influencing them to deal in securities”.
Mohammad Nasiruddin Ansari bio
Ansari is a a popular Indian “finfluencer” who is the sole proprietor of the firm Baap of Chart (BoC). He initially started out promoting himself as a stock market expert on various social media platforms. While doing this, he invited thousands of investors/ clients to enroll for various “educational courses” that he offered. According to reports, Ansari allegedly promised thousands of gullible investors near-certain returns or guaranteed profits if they followed his recommendations/tutorials about the securities market.
Ansari’s scheme
Ansari reportedly providing stock recommendations (buy/ sell) through BoC across various social media platforms like YouTube, X (formerly Twitter), Instagram, WhatsApp, and Telegram. Through these sites, he asked investors to enroll for his “educational courses” that he offered through a website and apps. These apps were available on Google Play and Apple’s App Store, with the help of Bunch Microtechnologies Pvt Ltd (Bunch).
According to SEBI, Ansari was selling 19 courses about the securities market, including four that promised investors assured returns. Using a ‘chat functionality’ on the Bunch platform, interested students could connect with “tutors” who provided information/ documents/ content, and communicated in real time. Ansari also provided various buy/ sell recommendations in private groups of his investors/ clients. Besides online educational courses, Ansari also organised physical workshops across various cities.
According to SEBI, all the amounts collected from the investors were credited into several bank accounts, including that of Ansari, BoC, and Golden Syndicate Ventures Pvt Ltd. Golden Syndicate Ventures Pvt Ltd is a company where Ansari holds significant shares. Some of the amounts also went to the account of P Rahul Rao, who is also another significant shareholder of Golden Syndicate Ventures. Alongside Rahul, SEBI also named four other directors of Golden Syndicate Ventures -Asif Iqbal Wani, Tabraiz Abdullah, Mansha Abdullah and Vamshi Jadhav who also received money in their accounts.
Nasiruddin Ansari Baap of Chart social media followers and subscribers
Nasiruddin Ansari has various channels across social media. His YouTube channel (@Baapofchart) has over 4.43 lakh subscribers with over 7 crore views. He also has a Telegram group/ channel called Baap Of Chart Option Hedging, with around 53,000 subscribers. Aside from these, his Instagram and X accounts have around 59,000 and 78,000 followers respectively. Meanwhile, his WhatsApp channel has over 13,000 followers.
Nasiruddin Ansari total earnings from his scam
According to SEBI, Ansari collected Rs 13.78 crore from various courses/ workshops listed on Bunch’s platform and mobile apps. According to SEBI, Ansari collected all this amounts from fraudulent and unregistered investment advisory activities. Meanwhile, he earned an additional Rs 3.42 crore through two UPI IDs linked to two Kotak Mahindra Bank accounts that belonged to Ansari and BoC and Baap of Chart has been asked to refund Rs.17 crore to the people who paid the fees.
Nasir made tall promises of assured returns – sometimes as big as ₹10 crore by investing only ₹one lakh, or a video on ‘how he himself made ₹2 crore in one day’, so on and so forth but his actual net worth isn’t known.
A number of complaints were received by Sebi wherein investors were lured into buying courses in return of assured returns of a minimum ₹3 lakh and further extendable to ₹6 lakh per month.
SEBI states its order against Nasiruddin Ansari
Notably, SEBI has issued an order against Ansari and BoC. The regulatory organization stated:
The theatrics and showmanship in the trailer videos on YouTube issued by Ansari/ BoC appear to be aimed at creating an illusion of unnatural returns by drawing in gullible and uninformed viewers to join his ‘classes’ thereby inducing them to trade in the securities market”.
It further added:
Prima facie, at its very core, the impugned activity is fraudulent. It appears that the Noticees sought to make a quick buck by inducing persons to invest in the securities market making bogus claims and assurances of astronomical profits if trades are executed relying on their advice/ recommendations.”
SEBI has ordered Ansari and others to “cease and desist” from acting as or holding themselves as investment advisors. The market regulator has also restrained Ansari, Rahul Rao, and Golden Syndicate Ventures from buying, selling or dealing in securities.
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