Live Breaking News & Updates on வில் வளங்கள் நிறுவனம்
Stay updated with breaking news from வில் வளங்கள் நிறுவனம். Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
How cultish social media accounts fuel trading in penny stocks In the world of online trading forums, prices can soar on plummet on momentum alone about 2 hours ago Hannah Murphy, Philip Stafford The rumbustious world of trading shares over the counter is the lesser known of the US equities markets. Photograph: iStock
“ALERT!!!”, shouted a Twitter post on February 3rd by a user called Alexander Delarge, whose profile picture is the sociopathic protagonist with a similar name from A Clockwork Orange. The message was a bombastic plug for a little-known penny stock called MedX Holdings, a “brands and acquisitions” business looking at the emerging cannabis industry. ....
SEC accuses trader of using Twitter to hype stocks with false claims The Securities and Exchange Commission (SEC) has announced charges against a California man accused of using Twitter to spread false claims about a ‘defunct company’ after purchasing millions of shares. This alleged ‘pump and dump’ scheme, according to the SEC, involving the tweeting of ‘false statements’ about Arcis Resources Corporation (ARCS), which was involved with the cannabis market. The SEC detailed the case on Monday, March 15; the complaint was filed in federal court on March 2, but was only unsealed this week. The matter involves Twitter user “@OCMillionaire” (Andrew L. Fassari), who is accused of using tweets to spread ‘false statements’ about ARCS. ....
Litigation Release No. 25052 / March 17, 2021 Securities and Exchange Commission v. Andrew L. Fassari, No. 8:21-CV-00403-JVS-ADSx (C.D. Cal. filed March 2, 2021) The Securities and Exchange Commission announced fraud charges and an asset freeze and other emergency relief against an Irvine, California-based trader who used social media to spread false information about a defunct company, while secretly profiting by selling his own holdings of the company s stock. According to the SEC s complaint, which was filed in federal court in the Central District of California, during December 2020, Andrew L. Fassari used the Twitter handle @OCMillionaire to tweet false statements about Arcis Resources Corporation (ARCS), a defunct Nevada company with publicly traded securities. Specifically, the complaint alleges that, on December 9, 2020, Fassari began purchasing over 41 million shares of ARCS stock shortly before tweeting false information about ARCS to his thousands of Twitter ....
SEC Charges Man Over Cannabis Firm Pump-and-Dump - Infosecurity Magazine infosecurity-magazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from infosecurity-magazine.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff 2 Min Read WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Monday it has charged a California-based trader for an alleged fraud scheme in which he spread false information about a defunct company on Twitter. Andrew L. Fassari, or @OCMillionaire on Twitter, tweeted false statements about Arcis Resources Corporation during December 2020, shortly after purchasing over 41 million shares of the stock, the SEC said in a complaint unsealed on Monday. Fassari’s attorney said he denies any wrongdoing. The trader made approximately 120 tweets from Dec. 9 to 21 with false and misleading statements about the stock, causing its price to surge over 4,000%, the SEC said. Fassari later sold all his shares between Dec. 10 and 16, booking $929,000 in profits from the scheme, according to the allegations. ....