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  • Eight finance influencers indicted in $100-million stock manipulation scheme
    Finance News

    Eight finance influencers indicted in $100-million stock manipulation scheme

    December 18, 2022 /

    The guarantee was very simple: Comply with them and get rich. 8 influencers, based mostly from California to Florida, promoted on their own on social media as monetary gurus who could decide on winning stocks. But in reality, federal authorities explained, it was a “pump and dump” plan, in which the perpetrators perform to inflate the charges of shares while pushing them as excellent investments before dumping them for gain. In parallel cases filed by the U.S. attorney’s office for the Southern District of Texas and the U.S. Securities and Exchange Commission, authorities said the 8 influencers raked in a lot more than $100 million by offering the shares they’d…

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