Social Media Influencers Manipulation Scheme – 231

This one this one hits home because guys We are social media influencer Classified as that or a content creator Now of course my channel has primarily In the past focused on how to's and Guides but it moved into news right we Did have crypto.com as a sponsor for the Channel now luckily the way we handled That crypto.com sponsorship was to say That we only utilized their card for of Course cashing out our crypto so we Never suggested to purchase anything we Definitely never said to purchase any Crow or anything like that so from that Perspective I think I handled that quite Well now why why do you see here I Wanted to talk to you guys about this Because this is interesting there was uh Some uh sentiment surrounding uh my Channel I think sometime last year where I had a lot of people reaching out I had Sponsors reaching out a lot of people They were getting mad at me for turning Down on sponsorships I had people like Curse me out and be like why the [ __ ] Wouldn't you take the bag that sort of Thing uh you know take the bag while you Can take the bag while you can and I'd Say no I don't feel comfortable with it I won't take coin sponsorships I won't Take you know these types of things and People always kind of like wondered why Right especially when you would see like A ten thousand dollar coin offer right

I show You how To Make Huge Profits In A Short Time With Cryptos! I show You how To Make Huge Profits In A Short Time With Cryptos! Welcome to the Future of Money

Like review this coin get do one video Get ten thousand dollars the reason why Is not because I'm perfect and like not Swayed by money it's just because I have A little bit more experience than Everybody else in the sector why because I've been through this before I've Seen It All Before I knew that I didn't want to end up Behind bars bro I don't want to end up In a position like bitboy crypto where I Have to worry about it I don't want to End up even in a position that voscoin Is in where he has to worry about some Of this stuff because the fact of the Matter is is that in this industry you Can be guilty by association and if you Are large enough as a platform like if We had grown to the size of bit boy or Something and we had not adhered to our Principles and the fundamentals of Crypto and kept a clean slate we would Be in the position of these current Content creators right now these ones Are specifically on Twitter they haven't Started going after YouTubers yet Necessarily I mean some of these guys Maybe do have this and I do want to say That I don't necessarily think that These are all allegations So there's not necessarily that anybody Here actually did anything wrong I also Am not a supporter of the letter Organizations in the US meaning SEC

FBI FTC blah blah blah blah cftc right like I'm not a fan of those in general I just Am not I think right I'm I lean more Libertarian here I'm going to say it Comes down to personal responsibility And yeah I don't think it's cool to take Advantage of people but one of the I Believe the line was something like only Like a coward appeals to law right if You meaning like I think like well it's Basically either only idiots or cowards Uh appeal to law and the the idea behind That is like there's a certain point Where you need to be smart enough not to Fall for these things right and you need To take some personal responsibility and If you did come to find out that Somebody did take advantage of you you Know you need to call that person out Right you don't appeal directly to law It's kind of like It's kind of like the idea of being a Tattletail when you're a kid or whatever Now is that always going to be true do You need somebody to administer the law I think in certain circumstances yes Um It's going to be interesting to see how This all plays out with cryptocurrency Too I just want to make it clear that Like this is not necessarily A Condemnation nor do I think that like Any of these guys belong in jail because

Frankly I don't even know uh what the Full cases are hopefully we'll learn a Little bit here but The SEC charges eight social media Influencers in 100 million dollar stock Manipulation scheme promoted on Discord And Twitter now in particular for this One guys it does appear that it's going To be surrounding like these meme stock Things right so the Securities and Exchange Commission today announced Charges against eight individuals and a Hundred million dollar Securities fraud Scheme in which they use social media Platforms Twitter and Discord to Manipulate exchange traded stocks According to the SEC since at least January 2020 seven of the defendants Promoted themselves as successful Traders and cultivated hundreds of Thousands of followers on Twitter and in Stock trading chat rooms on Discord These seven defendants allegedly Purchased certain stocks and then Encouraged their substantial social Media following to buy those selected Stocks by posting price targets or Indicating they were buying holding or Adding to the stock position however as The complaint alleges when share prices And or trading volumes Rose in the Promoted Securities the individuals Regularly sold their shares without ever Having disclosed their plans to dump the

Securities while they were promoting Them as our complaint States the Defendants use social media to amass a Large following of novice investors and Then took advantage of their followers By repeatedly feeding them a steady diet Of misinformation which resulted in Fraudulent profits of approximately 100 Million dollars said Joseph Sanson chief Of the SEC enforcement division Market Abuse unit today's action exposes the True motivation of these alleged Fraudsters and serves as another warning That investors should be wary of Unsolicited advice they encounter online The following seven individuals were Charged with Securities fraud now this Is alleged but I will say if you Recognize any of these names just be Aware that they could be unscrupulous Right so you have PJ Matlock on Twitter Mr Zach Morris on Twitter oh hey Tommy On Twitter notorious alerts on Twitter Hugh hen on Twitter lady back on Twitter And Ultra calls on Twitter The complaint further charges Daniel Knight of Texas with aiding and abetting The alleged scheme by among other things Co-hosting a podcast in which he Promoted many of the other individuals As expert Traders and provided them with A forum for their manipulative Statements Knight also trade in concert Concert with the other defendants and

Regularly generated profits from the Manipulation The sec's complaint filed in the U.S District Court of the southern district Of Texas seeks permanent injunctions Discouragement pre-judgment interest and Civil penalties against each defendant As well as a penny stock bar against H.R Vatin criminal charges against all eight Individuals were also filed in a Paralegal action brought by the Department of Justice's fraud section And the U.S attorney's auction for the Southern district of Texas the sec's Investigation which is ongoing is being Handled by Andrew palid palad David Scheffler and Michelle T perio of the Market abuse unit in the Boston regional Office with assistance from Darren Borner of the Mau Stuart Jackson Catherine Schumann Foster and Marina uh Martinova of the division of risk of Risk and economic analysis Dara and Howard Kaplan of the office of the Investigative and Market analytics so There you go the investigation resulted From a referral from the division of Examinations by Mark eggera John kakmore And so on so forth now obviously these Are talking about stocks meme stocks That sort of thing but this exact Practice has been going on in crypto for A long time you remember those coins at The beginning of this that I mentioned

Would offer ten thousand dollars for you To talk about them on your Cryptocurrency YouTube channel yes I Have been tagged and been in many many Email chains where they did not even Blind copy some of the other recipients And I did notice at a certain point that Some of these content creators were Doing videos on this coin now do I have Specific actual you know proof that These content creators were taking the Payment from these coins points and then Making the videos about them no all I do Have is essentially the fact that they Got the email and then they proceeded to Create a video about the coin and Usually that coin ended up in a dump There's the actual Solid proof that I have that they that They did it that they accepted payment But these are things that happen right There is some you know of these YouTubers that will probably end up in a Position similar to of course what we See here especially as the Crackdown on Cryptocurrency and the focus on Cryptocurrency due to FTX is kind of Magnified right it's going to be a lot Of ants underneath that magnifying glass Thanks for checking out this clip from The crypto mining show you can check out The full episode here or more crypto Content down here also I'd like you to Check out my locals page at son of a

Tech.locals.com where you can become a Member for free or choose to be a five Dollar a month supporter that unlocks Additional content

You May Also Like