U.S. authorities say at least eight social media influencers have been charged in what has been described as a securities fraud scheme to manipulate stocks.
U.S. authorities announced on Wednesday that at least eight individuals were charged in what has been described as a securities fraud scheme to manipulate stocks.
The"pump-and-dump" scheme, as it has been called, would see the individuals allegedly encourage followers to buy specific stocks as they promoted themselves as successful traders on the platforms. Those named in the SEC’s complaint were Perry Matlock , John Rybarcyzk and Edward Constantin of Texas.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breakingviews - China's chip suppliers have some growing up to doAll eyes are on China's semiconductor-equipment laggards. Beijing is readying a $144 billion fiscal package aimed at supporting tool and machinery manufacturers that are woefully behind Dutch and Japanese rivals. A combination of targeted subsidies and local demand will help. But catching up will be a years-long, if not decades-long, slog.
Read more »
SEC alleges $100 million stock manipulation scheme via social mediaThe Securities and Exchange Commission has filed a lawsuit against eight individuals who allegedly earned $100 million via stock manipulation.
Read more »
SEC says 8 social media influencers used Twitter and Discord to manipulate stocksJUST IN: The SEC has charged eight influencers with securities fraud after they were part of a $100 million scheme to use Twitter and Discord to manipulate the price of certain stocks, the agency says.
Read more »
Meghan and Harry lawyer accuses palace of 'negative briefing' in media warMeghan Markle told her Netflix show: 'A story about someone in the family would pop up for a minute and they'd go 'gotta make that go away.''
Read more »
DOJ and SEC charge social media influencers in alleged $100 million stock pump and dump schemeThe defendants allegedly used Twitter and Discord to promote stocks without disclosing alleged plans to sell once the prices rose.
Read more »
Social media influencers charged in $114M ‘pump and dump’ stock schemeThe SEC alleged they reaped about $114 million from by using Twitter and Discord to manipulate stocks.
Read more »