FILE PHOTO: The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange in New York City, U.S., September 28, 2016. REUTERS/Brendan McDermid
(Reuters) -The U.S. Securities and Exchange Commission (SEC) said on Tuesday it obtained an injunction and asset freeze against a man behind a popular Twitter account that promoted the trading of penny stocks before selling them at inflated prices.
The SEC alleges that since at least December 2019, Steven Gallagher, 50, of Maumee, Ohio, manipulated stocks by sending thousands of tweets using his handle @AlexDelarge6553 to encourage his numerous followers to buy stocks in which Gallagher had secretly amassed holdings, according to the complaint https://bit.ly/3bgJua1.
Already a subscriber? Log in
Subscribe now and stand a chance to win prizes worth over RM40,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.
