Categories: Market

SEC aggressively pursues insider trading, accusing 4 people

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 Trovias also occasionally sells unpublished earnings reports to publicly traded companies.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

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

3 hours ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

5 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

7 hours ago

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

8 hours ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

11 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

14 hours ago

This website uses cookies.