DOJ charges Chinese tech executive and financial adviser over $100m pump-and-dump scheme

The alleged operation involved impersonating investment advisors and creating false Whatsapp boards to lure investors in.

In one of the most sweeping securities-fraud prosecutions this year, the DOJ charged the co-chief executive of a Chinese technology company and his financial adviser with orchestrating an elaborate pump-and-dump scheme that generated more than $110m in illicit profits and wiped nearly $1 billion off an electronic display company’s market

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