You can take an errant finfluencer out of the market, but you can't take the marketing out of the finfluencer.
PR Sundar, the fininfluencer/stock-market trainer who was asked to keep away from the Indian securities market for a year, is out marketing his "cheapest options course ever" alongside his message calling for donations for Chennai flood-relief efforts. Posting both messages close together has invited the anger of fintwit.
Also read: MC Exclusive: PR Sundar, Mangaiyarkarasi Sundar found to have two DINs, in violation of law
In a settlement order in May 2023, the Securities and Exchange Board of India (Sebi) restrained Sundar from the markets for the period and asked him to disgorge more than Rs 6 crore, after investigating complaints about him running an illegal investment advisory.
Following his latest posts calling for donations, one commentator tagged Sebi, suggesting that he ask the regulator too and writing, "Sir Sebi is your biggest fan".
From his posts, it is clear that people are confusing the two and making flood-relief donations of Rs 1,999, which is the course fee.
Sundar jumped in to clarify and, of course, add a link to his course, posting: "Caution: Suddenly seeing many Rs 1999 donation to my Trust. Please remember, my trust is only for donation. If you are planning to pay for the course, then, go to the following link." He then gave the link to the course being hosted by Rigi.
To people who asked what would happen to donations that were sent in wrongly, he replied that they would be refunded on request.
Under his post asking "followers, fans, well-wishers, workshop attendees, mentees" to "liberally" donate to his trust to help the flood victims, comments are mostly rude.
One asks him why he is asking others to donate when he makes so much money, while another says that his one-month income can benefit 10,000 families.
Also read: PR Sundar settles with Sebi, to keep off trading for a year, cough up over Rs 6 crore
One person said, "Always begging for something in a different form".
Another posted, "Chennai is Normal as per Govt. Don't do scam."
Sundar has said that donations to the Mangai Foundation are eligible for an 80G tax exemption.
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