And of course ....
.... they'll all be found guilty. The $100m will be taken away from them as fines. And will then be redistributed to the poor 'suckers' that it was effectively stolen from ..... NOT!
The SEC will fine them and keep the money!
Eight braggadocious social media influencers fond of posing next to sportscars are facing charges from the US Securities and Exchange Commission (SEC) and Department of Justice (DoJ), who claim they manipulated their 1.5 million followers in order to help themselves to $100 million in "fraudulent profits." The suspects, all …
Sometimes I catch a glimpse of people promoting specific types of trading on youtube, and it's the sketchiest thing. They are targetting people who trust them, and who do not have the tools to understand the risks and potential for manipulation. That's not a criticism of the victims; I also do not have most of those tools because I ALSO learned most of what I know about the finance industry from youtube.
Agreed: I am also wary of YouTube videos, after all, if the creators were that good at making money, they wouldn't need to post on YouTube, they'd be quietly getting on with the job. The same goes for other online "finfluencers": it's not a good idea blindly to trust anyone.
And it's always good to keep in mind the words of Nicolas Boileau: "ce que l'on conçoit bien, s'énonce clairement", iotw if they really understood what they were talking about, they would be able to explain it well.
Oh, and upvoted for honesty and humility.
When presented with any financial opportunity I like to ask the question "So why are they offering me this instead of just doing it and making the income themselves! So far I don't think I've ever found an answer. Maybe I've missed some wonderful opportunities, but I sure as hell haven't lost anything!
I thought for sure that jackass Doug DeMuro would be involved, but alas.
This episode reminds me of the time the Donald Himself thought he could turn an easy buck with his patented “Trump’s Pump & Dump”, except that, being fundamentally an idiot, he managed to lose a fortune on the scheme.
It’s all here:
With Trump, you can never be sure. Did he lose a fortune? Or did he lose a fortune for tax purposes?
Harder told The Times its reporting about the president's tax returns and business dealings was "demonstrably false" and "highly inaccurate."
Because Trump doesn't make it easy to get at the truth....
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