Eight social-media influencers were charged in an alleged $100 million stock-manipulation scheme in which they used their platforms on Twitter and Discord to alter stock prices, the Securities and Exchange Commission said
Complaint accuses social-media influencers of engaging in pump-and-dump scheme since at least January 2020
The Securities and Exchange Commission said the influencers involved took advantage of their large followings.Updated Dec. 14, 2022 12:00 pm ET The Securities and Exchange Commission charged eight influencers in an alleged $100 million stock-manipulation scheme in which they used their platforms on Twitter Inc. and Discord to alter stock prices, the agency said Wednesday.accuses seven of these influencers of encouraging their followers online to buy certain stocks they had purchased.
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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.
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