What a bully does is to punch down, the SEC does exactly that as it never went after a billionaire even though commentators and those who follow the dynamics can spot fraud from a mile out.
Very easy to avoid this…retail investors have no business with the stock market; the vast majority of them lose money…there are billion-dollar funds with the best connections and expertise money can buy even losing billions, but yet some folks in their basement think they can do better.
Asides, this case made me remember Chamath Palihapitiya, who hyped several SPACs to retail investors and left them holding the bag.
The problem, the SEC dryly notes, is that the alleged criminals (but proven imbeciles) had a tendency to discuss “their scheme over Discord voice chats that they believed were private, but were being recorded.”
Like discussing a bank robbery in front of the bank. "I tell you, Steve, the guard is not looking right now..."
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[ 3.2 ms ] story [ 38.5 ms ] threadAsides, this case made me remember Chamath Palihapitiya, who hyped several SPACs to retail investors and left them holding the bag.
SEC makes it relatively painless to report pump and dump scheme and other manipulations
https://www.sec.gov/tcr
Like discussing a bank robbery in front of the bank. "I tell you, Steve, the guard is not looking right now..."