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
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.