Another financial influencer has been taken down, and in just six months, he scammed retail investors out of over 40 million yuan!!!

This influencer's name is Jin Hao, with 100,000 followers. While that's not a huge number, his influence is massive—many retail investors treat him as a trendsetter.

Whenever he publishes a stock market analysis article, it can reach millions of readers, and large numbers of followers are willing to buy stocks following his recommendations.

Recognizing that his followers had more money than sense, Jin Hao would identify a small-cap stock with a low price and quietly accumulate a position. Then, capitalizing on current market trends, he would package the stock, write analysis articles hyping it up to the heavens. After publishing the article, massive numbers of followers would mindlessly follow along and buy in. The stock's trading volume would suddenly surge, and the price would skyrocket.

Seeing his followers take the bait and give him a boost, he would cash out his profits, leaving the followers who trusted him completely trapped at the peak prices.

This tactic worked perfectly for Jin Hao—in just six months, he turned several million yuan into 40 million yuan.

However, Jin Hao's good days didn't last long. Late last year, the Securities Regulatory Commission discovered his scheme, fining him 83 million yuan and banning him from the market for 3 years.

The punishment is rather lenient. If he was fined 83 million yuan, he clearly made more than 40 million—and without going to prison, he could always make a comeback.

After all, this market never lacks people with more money than sense.