According to the Website Officially, the United States Securities and Exchange Commission (SEC) has charged a 30-year-old Greek with securities fraud and money laundering for allegedly selling insider trading tips on multiple platforms.

Gary Gensler – Chairman of the SEC

From December 2016 through February of this year, the SEC said that Apostolos Trovias, using the account name “The Bull,” claimed to be “a clerk in a commercial branch” and gave instructions to trade stocks sold for buyers through monthly and weekly subscriptions, as well as one-offs Sale. Trovias also occasionally sells unpublished earnings reports to publicly traded companies.

Trovias used several dark web markets to sell its products, including AlphaBay, Dream Market, Nightmare Market and the now defunct ASAP Market. He also created a website to sell his “tutorial” subscriptions.

All of Trovias’ earnings are paid in bitcoin, which the SEC complaint alleges was used to disguise and anonymize an “insider trading system”.

It remains unclear whether the exchange leaders Trovias sells to clients are based on real, non-public information obtained from “third party providers” or simply created by Trovias.

SEK accusation 3 PeopleOther insider trading

According to the announcement In the press release, the SEC accused three people of insider trading in purchasing shares of Long Island Iced Tea prior to the 2017 announcement that they would transition to a blockchain-based business model.

The SEC indicted Eric Watson, Oliver Barret-Lindsay and Gannon Giguiere on Friday. In it, Watson was an “unmasked controller” at Long Island Iced Tea who shared secret plans for the move in the ICO boom.

Giguiere bought 35,000 shares in the company and sold it after the announcement was formalized. The share price soared on the news, and he made $ 160,000 on the sale.

Long Blockchain, the consortium’s name after the rebrand, has exploded since the announcement. The company was then delisted from the Nasdaq stock exchange.

The FBI is investigating whether Barret-Lindsay and Giguiere have benefited from insider trading since 2019.

According to the SEK, both are also defendants in another independent small-cap fraud program.

Minh Anh

According to AZCoin News

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