 "PR Sundar: Who is the controversial options trader penalised by SEBI recently?")
PR Sundar, a renowned options trader with a substantial online following, holds an unconventional perspective on life and finance. Recent events have put him in the spotlight for controversial reasons. Despite his significant presence on YouTube and Twitter, he has faced severe criticism for his remarks about the virginity of a Twitter user’s daughter. Many users on the platform deemed his language inappropriate, distasteful, and unacceptable.
Adding to his troubles, Sundar was penalised by the Securities and Exchange Board of India (SEBI) with a fine of Rs 6.5 crore and a one-year trading ban for alleged violations of investment adviser regulations. Reports suggest that this marked the first instance of action taken against a finfluencer (financial influencer) by the market regulator and further compounds the challenges faced by him in the midst of public backlash.
The case, dating back to 2022, involves PR Sundar, Mansun Consulting, and Mangayarkarasi Sundar, a co-promoter of the company. They have been prohibited from participating in the buying, selling, or dealing of securities for a period of one year from the date of the settlement order.
According to SEBI’s investigation, PR Sundar operated the website www.prsundar.blogspot.com, where he offered advisory services through various packages. Payments for these services were collected through a payment gateway linked to Mansun Consultancy Pvt Ltd, a company co-promoted by Sundar. This further compounds the challenges faced by him in the midst of the public backlash.
Finance Minister Nirmala Sitharaman has raised concerns about the dangers presented by Ponzi apps that offer financial solutions, emphasising the need for caution. Although there are currently no plans to regulate “finfluencers,” it is crucial to exercise some caution when engaging with these individuals and platforms.
Quick Reads
View AllHow PR Sundar rose to internet fame?
Sundar’s rise to internet fame began in 2007 when he ventured into stock market trading. He joined Twitter in 2017 and gained a significant following of close to five lakh. Through his YouTube channel, he regularly shares explainer videos on stock market trading, attracting a substantial viewership.
With his trading capital surpassing Rs 50 crore and claiming a profit of Rs 20 crore from trading and other ventures in the previous year, Sundar has faced criticism for allegedly earning more from training than actual trading. He has also faced accusations of selectively sharing screenshots of profitable trades and deleting or faking screenshots when faced with losses.
PR Sundar’s luxurious lifestyle
Despite the controversies surrounding him, he leads a luxurious lifestyle. He owns luxury vehicles such as a Mercedes Benz S Class and a Jaguar and resides in a lavish four-storeyed penthouse worth Rs 30 crore in Tamil Nadu. His aspirations include purchasing a Rolls Royce and even a yacht by 2024.
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