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Founder of Citron Research, Andrew Left, convicted of securities fraud, faces over 20 years in prison

MarsBitNews
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According to a report by Bloomberg, Mars Finance News says that Andrew Left, founder of the well-known short-selling firm Citron Research, was found guilty of manipulating stock prices by using dishonest social media posts. After a three-week trial in Los Angeles, the jury found Left guilty on 13 of 17 counts, including one securities fraud offense. Prosecutors alleged that Left, between 2018 and 2023, illegally influenced the stock prices of dozens of companies through explosive tweets and profited quickly from the trading, earning more than $20 million. Left said in court that he will appeal, claiming the verdict is an attack on free speech and on innocent trading conduct. He faces more than 20 years in prison and will be sentenced on August 31. The case has drawn close attention from the short-selling industry, and a professor at Yale University said this verdict will have a chilling effect on short sellers.
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FlowingColorfulInkHeart
· 10h ago
Sentenced on August 31, waiting to see the final prison term
View OriginalReply0
SlippagePoet
· 11h ago
Short selling is allowed, spreading rumors is not, the boundaries are finally clear.
View OriginalReply0
AirdropCartographer
· 11h ago
Retail investors cheer happily, but who will short and manipulate companies in the future?
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OrderCancellerAfterTheRain
· 11h ago
It took five years from 2018 to 2023, and it took so long to convict.
View OriginalReply0
FragilePosition
· 11h ago
Cicada Effect? I see it as industry purification.
View OriginalReply0
WhirlpoolInATeacup
· 11h ago
The 13 items are established; the jury is really going all out.
View OriginalReply0
GateUser-2d7346e0
· 11h ago
Citron got burned this time; other short-selling institutions are probably editing their PPTs overnight.
View OriginalReply0
NonceNinja
· 11h ago
Freedom of speech is not a shield for manipulating stock prices; the verdict is spot on.
View OriginalReply0
KeyOnBlackVelvet
· 11h ago
20 years in prison + 20 million yuan fine, this penalty is harsh enough
View OriginalReply0
ReviewMonsterDoesn'tSleep
· 11h ago
Short selling has really become a high-risk profession now
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