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Eight online finance experts have been charged by the US Department of Justice with securities fraud.
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They ran a $114 Million pump-and-dump scheme using their 1.5 million followers on Twitter.
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An indictment states that members of the Discord-based forum Atlas Trading promoted stocks they had purchased in large quantities.
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They also made misleading statements about stocks' values and their intention to keep them.
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The group secretly sold the stock after followers drove up the price.
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A parallel civil complaint was filed by the Securities and Exchange Commission (SEC).
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Seven of the men are charged directly with securities fraud. An eighth man is charged with aiding in the conspiracy via a finance podcast.
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According to some reports, the conspiracy ran from January 2020 to April 2022. It covered an explosion in interest in securities trading during the pandemic.
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Knight hosted a podcast called Pennies: Go In Raw, which was co-hosted and promoted by one of the alleged fraudsters.
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