Social Media Influencers Are Charged with Securities Fraud for Pump-and-Dump Stock Scheme

Social Media Influencers Are Charged with Securities Fraud for Pump-and-Dump Stock Scheme

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U.S. regulators charged eight social media influencers for allegedly manipulating stock prices and profiting from it. The Securities and Exchange Commission (SEC) and Department of Justice filed lawsuits on Dec. 13 and Dec. 7 respectively, seeking $114 million from the defendants. According to the…

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