Tag

Stock Fraud

All articles tagged with #stock fraud

cybersecurity6 months ago•3 min saved

FBI Warns About Social Media and Messaging Risks

The FBI has issued a warning about cybercriminals using social media and messaging apps to execute ramp-and-dump stock fraud schemes, impersonating legitimate financial figures and promoting fake investment clubs to manipulate stock prices, with a significant increase in complaints in 2025. Investors are advised to be cautious of unsolicited tips, urgent investment pitches, and claims of exclusive advice, and to report suspicious activity to the FBI.

via Forbes|

#cybersecurity #fbi #investor-warning

crime2 years ago•3 min saved

Guilty Plea in $100M Stock Fraud Scheme Involving New Jersey Deli

James Patten, a North Carolina man, has pleaded guilty to securities fraud and conspiracy charges for orchestrating a market manipulation scheme involving a New Jersey deli and two companies. Patten, along with two co-defendants, allegedly manipulated stock prices by injecting false information into the marketplace, creating phony impressions of supply and demand. The scheme involved using the deli as a front for an alternative securities trading scheme. The stock prices of the companies involved soared, with the deli being valued at $100 million despite having only one asset. Patten's sentencing is scheduled for April 2024, while the cases of his co-defendants are still pending.

via NJ.com|

#crime #deli #guilty-plea