The Justice Department and the Securities and Exchange Commission said that from early 2020 to around April of this year the men, who had combined following of over 1.5 million on Twitter, ran a “pump-and-dump” scheme.
The Justice Department and the Securities and Exchange Commission said that from early 2020 to around April of this year the men, who had combined following of over 1.5 million on Twitter, ran a “pump-and-dump” scheme.
The government has charged eight men of earning more than $100 million in illicit stock market profits by manipulating their novice-investor followers on social media
<p><span>The Securities and Exchange Commission today announced charges against eight individuals in a $100 million securities fraud scheme in which they used the social media platforms Twitter and Discord to manipulate exchange-traded stocks.</span></p>