SEC says social media influencers used Twitter and Discord to manipulate stocks
The Securities and Exchange Commission has charged seven social media influencers with securities fraud, saying Wednesday that they were part of a $100 million
The Securities and Exchange Commission has charged seven social media influencers with securities fraud, saying Wednesday that they were part of a $100 million scheme to use social media platforms Twitter and Discord, as well as podcasts, to manipulate the price of certain stocks.
Though the influencers are not household names, they had accrued more than 2 million followers across various social media platforms, where they routinely posted photos of their wealth including of exotic sports cars.
The influencers charged include “PJ Matlock,” whose real name is Perry Matlock. On Wednesday, he had deactivated his Twitter account, which had more than 340,000 followers.
One person, Daniel Knight, who goes by the online handle “DipDeity,” was charged with “aiding and abetting the alleged scheme” after co-hosting a podcast that promoted the other defendants, the SEC said.
Other defendants include Edward Constantin, who went by the online handle “MrZackMorris”; Thomas Cooperman, who goes by “ohheytommy”; Gary Deel, who goes by “Mystic Mac” or “notoriousalerts”; Mitchell Hennessey, who goes by “Hugh Henne”; Stefan Hrvatin, who goes by “LadeBackk”; and John Rybarcyzk, who goes by “The Stock Sniper” or “Ultra_Calls.”
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