Quartet face criminal charges for ASX penny stock Telegram pump-and-dump scheme
Syed Yusuf, Larissa Quinlan, Emma Summer, and Kurt Stuart were charged in the Downing Centre Local Court.
Syed Yusuf, Larissa Quinlan, Emma Summer, and Kurt Stuart were charged in the Downing Centre Local Court.
Scammers may start by pitching a well-known stock and then, through WhatsApp chats, push you towards riskier, unfamiliar ones.
Gabriel Govinda (known online as ‘Fibonarchery’) has been sentenced to two and a half years imprisonment.
The defendants promoted themselves as successful traders and cultivated hundreds of thousands of followers on Twitter and Discord chat rooms.
Share price manipulation, known as “Pump and Dump” is a forbidden practice also known as “scalping”, i.e. “scalping of investors”.