Forbes

Did Keith Gill, Aka Roaring Kitty And His GameStop Antics Violate Securities Laws?

Roaring Kitty Not The Only One Who Can Send Stock Prices Gyrating

The US Justice Department (DOJ) has charged Andrew Left, who bet against, or shorted, the GameStop stock, of making $16M over five years by misleading investors. He faces 17 counts of securities fraud and one count of lying to federal investigators, which carries a total of 370 years in prison.

Prosecutors claim he used his commentary on social media and cable news "to manipulate the markets and enrich himself." He allegedly announced his stock bets and where he thought the prices would go and then closed his sales once they reached his desired price.

Wall Street Journal

One example of his alleged crimes included him predicting stocks would fall by 50% while he sold them after they fell only a couple of percentage points. The government also claims he received inside information from other hedge funds but didn't publicly talk about it until after the trades were made.

Left and his company face additional charges from the SEC, which has accused him of a $20M fraud scheme by "publishing false and misleading statements regarding his supposed stock trading recommendations."

New York Post

Left is the founder of Citron Research, which was notorius for its 2015 shorting of the Canadian pharmaceutical firm Valeant, whose stock dropped 90% after the Securities and Exchange Commission (SEC) found that it doctored its invoices.

GameStop Short-Seller Charged With $16M Fraud

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GameStop Short-Seller Charged With $16M Fraud

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