Avadhut Sathe Defrauded Students Through His Trading Academy

Avadhut Sathe, a well-known stock market trainer, is now at the center of a massive financial scandal after authorities uncovered a ₹546-crore fraud involving more than 4.1 lakh students enrolled in his trading academy.

According to investigators, Sathe positioned himself as a market expert who could teach ordinary people how to achieve financial freedom through trading. His seminars, online courses, and mentorship programs attracted lakhs of aspiring traders seeking quick success.

The alleged fraud began with Sathe charging exorbitant fees for courses that promised guaranteed returns. Many students were assured that they would recover their fees within weeks through his “proven” trading strategies.

Authorities say Sathe used high-pressure sales tactics, emotionally charged presentations, and claims of insider-level expertise to lure students into signing up for costlier “advanced” programs.

Over time, complaints began piling up that the strategies taught by Sathe either did not work or led to heavy losses. Students claim they were repeatedly pushed into purchasing additional courses instead of receiving genuine support.

Investigators also found that Sathe allegedly operated a pyramid-style model, encouraging existing students to recruit new members in exchange for incentives. This helped him rapidly expand his customer base across India.

The Enforcement Directorate has alleged that Sathe diverted large portions of the collected fees into personal accounts and shell companies, disguising the money as business revenue.

Many students say they were blocked from support groups or denied refunds when they questioned the academy’s credibility. Some were even threatened with legal notices for posting complaints online.

As the scale of the fraud became clear, authorities initiated action under the Maharashtra Protection of Interest of Depositors (MPID) Act, attaching Sathe’s properties and freezing bank accounts.

With lakhs of victims and billions of rupees involved, the case has triggered widespread concern about unregulated financial training institutes and the urgent need for stricter oversight in the booming trading-education industry.