Global “Pump-and-Dump” Scheme Targeted Retail Investors and Generated Over $100 Million in Illicit Proceeds:
This is just one of the juicy parts:
First, the defendants and their co-conspirators secretly amassed control of the vast majority of the stock of certain publicly traded companies that were traded on the over-the-counter (“OTC”) market in the United States. Second, the defendants and their co-conspirators then manipulated the price and trading volume for these stocks, causing the share price and trading volume to become artificially inflated, through coordinated trading and false and misleading promotional campaigns that they funded.
h/t cookingboy
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