In the high-stakes world of trading, few figures have captured the imagination of thousands like Asmita Patel. Her confident demeanor, promises of financial freedom, and compelling presence online turned her into a sensation among aspiring traders. To her devoted followers, she was a visionary—the woman who could teach anyone how to master the markets and escape the humdrum of a 9-to-5 job.
But as it turns out, the dream she sold was little more than smoke and mirrors.
This is the story of how the Global School of Trading, founded by Asmita Patel (APGSTPL), became a house of cards that came crashing down, leaving a trail of broken promises and empty bank accounts. The Global School of Trading was once seen as a beacon of hope for many, and it’s also the story of the people who believed in her—until they couldn’t anymore.
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The Making of a Trading Guru
It all seemed so promising at the start.
Asmita Patel didn’t just sell trading courses; she sold the idea of transformation. In her workshops, she told audiences that anyone could achieve success with the right strategies. The company’s most popular course, Master’s in Price Action Trading (MPAT), came with a hefty price tag: INR 7,00,000 (plus 18% GST). But what was a few lakhs, she reasoned, when it could unlock a lifetime of wealth?
On social media, Patel cultivated an image of a savvy entrepreneur and a self-made success story. Her online presence was magnetic, with over half a million YouTube subscribers and thousands more on Instagram and Telegram. She positioned herself as the “She Wolf of the Stock Market” and promised her students insider knowledge that would set them apart from the average investor.
Many were hooked.
The courses promised hand-holding and direct guidance, with live trading sessions conducted via Zoom. Participants were encouraged to join exclusive Telegram groups where they would receive specific trading recommendations. According to testimonials shared on Patel’s website and during her seminars, the results were extraordinary. Students claimed to have transformed modest investments into multi-crore fortunes.
But for a group of 42 former students, the reality was far less glamorous.
“Everything Felt So Real Until It Wasn’t”
The complaints began quietly—an email here, a WhatsApp message there. But by 2023, the number of disillusioned participants had grown too large to ignore.
The Securities and Exchange Board of India (SEBI) launched an investigation into APGSTPL after receiving complaints from 42 participants. These individuals had invested not only their money but also their trust in Patel’s courses. What SEBI uncovered was a meticulously constructed operation that blurred the lines between education and unregulated financial advice.
Participants were encouraged to transfer their existing trading accounts to Patel’s control. They were promised personal coaching and insider access to stock recommendations. In some cases, they were instructed to liquidate mutual funds, borrow from family, and even sell personal assets to raise the capital required for trading.
For many, it was a recipe for disaster.
Asmita Patel Global School of Trading – The Investigation Unfolds
SEBI’s investigation revealed that APGSTPL’s activities went far beyond education. Video recordings from the MPAT and LMIT courses showed Patel making bold claims about guaranteed returns.
“Once you build profit on this, nobody in the world can stop you from making money.”
The transcripts were riddled with similar statements, promising returns as high as 200-300% and assuring participants that trading with her methods was foolproof. But what the investigation found was that many participants had suffered significant financial losses instead.
The Financial Web
The financial side of the operation was equally murky.
Participants were often asked to pay in cash or transfer their fees to bank accounts belonging to entities linked to APGSTPL, including King Traders, Gemini Enterprise, and United Enterprises. SEBI’s analysis of these accounts showed irregularities that raised red flags. It appeared that the funds collected were not exclusively used for education, prompting serious questions about the company’s true purpose.
SEBI’s interim order, issued in October 2023, accused Patel and her associates of multiple regulatory violations, including operating without the necessary registration and engaging in unfair trade practices.
Aftermath and Fallout
The fallout was swift and brutal.
Patel’s once-loyal followers turned vocal critics. For some, the SEBI order was a bittersweet moment—a validation of their concerns but a painful reminder of what they had lost. The interim order instructed APGSTPL to cease operations and refund the money collected from course participants. Patel and her associates were barred from accessing the securities market.
But for many, the damage was already done. Bank accounts had been drained, and dreams of financial independence had turned into financial nightmares.
Lessons Learned—The Hard Way
Asmita Patel’s rise and fall is a yet another reminder of the dangers of unregulated financial advice and the seductive allure of easy riches. In a world where social media influencers can wield enormous power, it’s easy to be swept up in the promises of those who seem to have cracked the code.
But as this story shows, if something sounds too good to be true, it probably is.
The SEBI investigation underscores the importance of due diligence and regulatory oversight. It also highlights the need for greater financial literacy and skepticism—especially in an age where anyone with a smartphone and a following can claim to be an expert.
Conclusion
For those who lost money in APGSTPL’s programs, the journey toward financial recovery will be long and uncertain. SEBI’s order is just the beginning of what may become a prolonged legal battle. And while the full story has yet to unfold, one thing is clear: The world of finance is full of promises, but not all of them are worth believing.
