
A Promised Fortune That Never Came
Gangtokian News Desk: Asmita Patel, who branded herself as the “She-Wolf of the Stock Market,” is under scrutiny after the Securities and Exchange Board of India (SEBI) found discrepancies in her trading claims. Patel allegedly misled thousands by promoting a secret intraday trading strategy, convincing them they could earn Rs 50,000 a day with minimal effort.
According to SEBI’s investigation, between 2019 and 2024, Patel managed only Rs 15 crore in trading, not the Rs 280 crore she claimed. Her actual net profit from trading was just Rs 12 lakh. Meanwhile, she reportedly earned Rs 104 crore from selling her stock market courses.
High-Price Courses and Dubious Promises
Patel’s marketing revolved around workshops such as “Let’s Make India Trade Again” (LMIT), followed by an advanced program called “Masters in Price Action Trading” (MPAT). While LMIT was priced at Rs 7,000, MPAT cost Rs 8.26 lakh. Thousands enrolled, believing Patel’s assurances of high returns.
Many took loans, hoping for financial independence through her strategies. However, SEBI’s findings indicate that Patel was not a SEBI-registered investment advisor, making her trading advice illegal.
Investor Complaints and SEBI’s Investigation
SEBI began investigating Patel after 42 investors filed complaints. Of those, 38 had enrolled in LMIT before upgrading to MPAT. Reports suggest that Patel pressured her students to open accounts with specific brokerages where she was an authorized agent, potentially earning commissions alongside her course fees.
A former student stated, “Her team called me, saying people had made crores during COVID. I was convinced to invest, but now I’m struggling with loan repayments.”
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Legal and Financial Fallout
SEBI’s report includes evidence from Patel’s Telegram channels, where she allegedly provided stock recommendations, instructing students on specific trades. This practice, without proper registration, violates SEBI regulations.
Many victims, now burdened with debt, have voiced their distress. “I lost everything. My Rs 17 lakh loan has turned into Rs 23 lakh due to interest,” one complainant said. Another admitted to experiencing severe mental distress after failing to recover their investments.
What Happens Next?
SEBI is expected to take further action against Patel, which could include financial penalties or legal proceedings. As of now, Patel has not publicly responded to the allegations.
For investors, this case serves as a reminder to verify financial advisors’ credentials and avoid schemes promising unrealistic returns in the stock market. Regulatory bodies continue to warn against such scams, urging the public to exercise caution before investing in stock market courses or advisory services.
Gangtokian Web Team, 05/03/2025