Moneycontrol spoke to a few people who claim to have been defrauded by Nasir, including one whose complaint resulted in a Jharkhand District Court issuing an order for Nasir’s arrest
The interesting thing is the air of hyperbolic stardom and celebrityhood that has been created around the perpetrator. It tells us about the type of investors who were being targeted. Someone who has chosen and promoted a personal brand ‘Baap of Chart is not looking for an informed or evolved investor.
Baap of Chart, which gave buy/sell recommendations, used multiple layers of companies and platforms to present itself as an entity running educational courses. But the market regulator went on a money trail unearthing an elaborate web of disguise.
Content creators in the finance category are batting for a separate certification for influencers and urge Sebi to have a dialogue with financial influencers.