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SEC News Digest, 07 22 1968 a Brief Summary of Financial Proposals Filed with and Actions by the SEC Sec  Form

SEC News Digest, 07 22 1968 a Brief Summary of Financial Proposals Filed with and Actions by the SEC Sec Form

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in a massive move the Securities and Exchange Commission has announced charges against eight individuals in a hundred million dollar Securities fraud scheme they say that these individuals use social media platforms like Twitter and Discord to manipulate stock prices in the release SEC says that since at least Jam 2020 seven of these individuals promoted themselves as successful Traders and they got hundreds of thousands of followers on Twitter and in stock trading chat rooms on Discord as well these seven individuals allegedly purchase certain stocks and influence the followers on social media to buy these selected Stocks by posting price targets or indicating that they were buying it holding it or adding it to their stock positions but when share prices Rose in the promoted Securities these individuals sold their shares without even disclosing that they were taking the step and they did not inform their followers at all the chief of the SEC enforcement division's Market abuse

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