Finfluencer’s drug-racket busted, MP police issues lookout notice

“A successful trader’s journey in #StockMarket not only depends on how good they trade during the market but what they do off the market,” reads finfluencer Ashesh Mehta’s pinned tweet.

Though Mehta (@bulkindextrader) went on to detail the importance of doing yoga, week-long vacations and monthly massages, his off-market activities seem to have included running a drug racket from home.

Mehta and his wife Shivani Mehta have been accused of running a drug distribution network worth Rs 300 crore and Madhya Pradesh police have issued a lookout notice for the couple, according to newspaper reports.

According to the police, when the couple were called in for questioning, the two fled with more than Rs 170 crore earned through the sale of drugs.

Mehta is one of the many influencers, who claimed to have made a large part of their money through their trading prowess. His Twitter bio reads, “Entrepreneur! Index Option Buyer! Made a Fortune trading in Nifty and BankNifty.”

In fact, only on May 31, he shared his trading P&L statement that showed a profit of Rs 2.43 crore.

He had tweeted, “No Pun intended. Just a tweet for myself as a memory. Such days are rare and truly special when you look down memory lane. Say no to fake screenshots! Check out my P&L - #VerifiedBySensibull”

It is not clear what pun he was referring to.

Under this post, people have applauded him and others have asked him what capital he had made the profit. Often, finfluencers show large profits to advertise their trading skills, without revealing the large capital they would be working with. This can give the impression that they have made huge profits out of a small amount, which is then used to sell their courses or training to retail investors.

Mehta’s drug racket was busted after a courier company employee Naseer Khan filed a complaint at a local police station. Khan seems to have been delivering the couple’s parcels and chanced upon the illegal nature of the trade. Fearing for own safety, Khan filed a complaint with the police, according to newspaper reports.