they were part of a $100 million scheme to use social media platforms Twitter and Discord to manipulate the price of certain stocks.
After purchasing the stocks and encouraging their followers to do the same, the defendants “regularly sold their shares without ever having disclosed their plans to dump the securities while they were promoting them,” the SEC said in a news release. According to the SEC, the scheme occurred in three phases: The group would identify a stock and organize purchases at a lower price prior to the alleged manipulation. They would then promote the stock to their followers and inflate the share price, announcing price targets and teasing upcoming news about the company. They would then sell their shares into the demand generated by their hyping, creating a profit.
Who gets restitution money
Can we get rid of all the pool, hot tubs and bikini streamers for good and send em to OF
Isn't elonmusk using Twitter to manipulate stocks?
Great. Now please pursue all the YouTube influencer / scammers that promoted FTX! They made huge money every month to pump that scam.
So did the Dems in past elections by suppressing unfavorable news on Dem politicians.
Lol, influencers
Kinda like Congress passing legislation that manipulates stock prices?
Cool. Now do the winklevos twins.
Is elonmusk one of them?
You can protest peacefully against racism and worse and DOJ will black bag you. Try to overthrowcountry and DOJ sits on its behind and it obstructs. Try to cheat rich people, and suddenly the SEC is all over you. This says about EVERTHING that is wrong with American justice.
Actions = consequences
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Source: CNBC - 🏆 12. / 72 Read more »