‘FinTwit’ influencers face charges over €108m investment scheme

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‘FinTwit’ influencers face charges over €108m investment scheme
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SEC accuses eight men of running a modern version of a ‘pump and dump’ scheme to take advantage of novice investors via IrishTimesBiz

The eighth man, Daniel Knight of Texas, who goes by @DipDeity on Twitter, was charged with aiding and abetting the scheme by promoting and interviewing the others on his podcast, “Pennies: Going in Raw.”

His co-host, Mitch Hennessey , who goes by @Hugh_Henne and has more than 235,000 followers on Twitter, was among the seven other men charged, according to court documents. “The defendants used social media to amass a large following of novice investors and then took advantage of their followers by repeatedly feeding them a steady diet of misinformation,” Joseph Sansone, the chief of the market abuse unit in the regulator’s enforcement division, said in a statement released by the SEC.

 

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