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.The US Justice Department (DOJ) has charged Andrew Left, who bet against, or shorted, the GameStop stock, for allegedly 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.