Tag: Manipulation

Bill Hwang

From the beginning, the mystery of Bill Hwang is that there has never been any real evidence that he had a plan to make money. He bought stocks, he pushed them up, he had paper profits, he had capacity to withdraw or borrow against some of those paper profits, and he plowed basically all of them back into buying more…

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SEC Charges Former CEOs of Meta Materials with Market Manipulation, Fraud, and Other Violations

The Securities and Exchange Commission today charged John Brda and Georgios Palikaras, former CEOs of Meta Materials Inc., for their roles in a concerted market manipulation scheme that raised $137.5 million from investors in an at-the-market (ATM) offering in June 2021 immediately prior to the merger of Brda’s Torchlight Energy Resources Inc. and Palikaras’ Metamaterials Inc. that formed Meta Materials.…

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SEC Charges Robert Scott Murray and Trillium Capital with Fraudulent Scheme to Manipulate Getty Images Stock

The Securities and Exchange Commission today charged Robert Scott Murray and Trillium Capital LLC, a private company controlled by Murray, with a fraudulent scheme to manipulate the stock price of Getty Images Holdings Inc. by announcing a phony offer by Trillium to purchase Getty Images. Murray, of Mashpee, Mass., is a former CEO and CFO of several publicly traded companies.…

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U.S. bankers urge SEC to probe short sales, reduce ‘abusive’ trading | Reuters

The American Bankers Association on Thursday urged federal regulators to investigate a spate of significant short sales of publicly traded banking equities that it said were “disconnected from the underlying financial realities.” In a letter to U.S. Securities and Exchange Commission Chair Gary Gensler, the lobby group said it had also observed “extensive social media engagement” about the health of…

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SEC Charges Eight Social Media Influencers in $100 Million Stock Manipulation Scheme Promoted on Discord and Twitter

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. According to the SEC, since at least January 2020, seven of the defendants promoted themselves as successful traders and cultivated hundreds of thousands of followers on Twitter…

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SEC Charges Father-Son Duo and Associate in Market Manipulation Schemes Resulting in a New Jersey Deli with a $100 Million Valuation

The Securities and Exchange Commission today charged Peter L. Coker Sr., Peter L. Coker Jr., and James T. Patten for their roles in orchestrating fraudulent manipulative securities trading schemes. These schemes included artificially inflating the share price of Hometown International, which operated a New Jersey deli producing less than $40,000 in annual revenue, from approximately $1 per share in October 2019…

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Study: Single anonymous market manipulator pushed bitcoin to $20,000

A forensic study on bitcoin’s 2017 boom has found that nearly the entire rise of the digital currency at the time is attributable to “one large player,” although the market manipulator remains unidentified. Finance professors John Griffin and Amin Shams – instructors at University of Texas and the Ohio State University, respectively – analyzed over 200 gigabytes of data for…

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